ASOS lifted by overseas sales

Online fashion retailer ASOS today reported another bumper quarter after its international businesses boosted revenues by 160%.

ASOS, which targets 16-34 year olds with clothes and accessories based on outfits first worn by celebrities, said sales overall rose by 69% to £104.2m (€118m) in the three months to June, as the growth overseas more than offset a slowdown in the UK.

Australia, China and India and other Asian countries led the way as international revenues climbed to £59.6m, comfortably outstripping the UK, which saw sales grow by 15% to £44.6m.

That compares with a 24% improvement over the whole of last year. The company said the lower UK growth was in part down to it being cautious ahead of the opening of a new warehouse in Barnsley. It expects sales growth to recover to 20%.

As well strong growth in Asia, European sales rose by 80% at £25.5m over the past three months and the US saw an 151% rise to £7.1m helped by Michelle Obama wearing one of ASOS’s own brand dresses. International sales now represent 57% of total revenues.

The group, which has a target of £1bn of group sales by 2015, sells 50,000 product lines and attracts over 13 million website visitors a month as well as offering access to more than 50 other companies, such as Urban Outfitters, Reiss, Ted Baker and My-Wardrobe.com.

Chief executive Nick Robertson said: “The new financial year has started well and we remain positive in outlook for 2012.”