Asos’ group sales soared by 70% in its fourth quarter driven by its growing international arm which overtook the UK for the first time.
Want to know more about ASOS?
Group sales hit £93m in the three months to March 31, up 59% on the previous quarter. International rocketed by 161% at £48.4m and UK sales remained robust rising 24% to £44.9m.
International accounted for 52% of overall sales, the first quarter in which it has overtaken domestic sales.
Asos full year sales have increased 58% year-on-year to £324.8m. The retailer advised that pre-tax profit was likely to be at the top end of guidance. Overall gross margin has been cut slightly as the etail giant invested in free shipping and returns to propel its international sales.
The fashion giant said it was confident entering its new financial year.
Asos chief executive Nick Robertson said: “With international becoming an increasingly significant part of our future, I was pleased to see our international sales mix exceed that of the UK for the first time.
“We have approached the new financial year with confidence and are excited about the prospects for both our UK and international businesses.”