Decent growth for Asos' fashion web shop in second quarter

Decent growth for Asos' fashion web shop in second quarter

British fashion web shop Asos has managed growth outside of Great Britain: group turnover grew 16.5 % in the second quarter. An afwul previous year now only seems a dark footnote in the web shop's history.

International growth once more

After a horrible 2014, with three profit alerts and a huge fire in its Barnsley distribution center, Asos has found growth again: its turnover grew 16.5 % to 290.1 million pounds (about 400 million euro) in the three months leading up to 28 February.

 

Its home territory, Great Britain, is still the biggest contributor, with a 30 % turnover increase to 126 million pounds (180 million euro). However, Asos' international performance is picking up too: turnover abroad grew 12 % to 163.5 million pounds (some 230 million euro). In its first quarter, Asos still had to deal with a 2 % turnover drop.

 

"Zonal pricing"

Its American turnover growth is remarkable (+ 24 %), but Asos has also seemingly fixed its European price issues. Instead of fixed prices everywhere, it has now created "zonal pricing" in France, Germany, Italy and Spain, which have resulted in a 13 % turnover growth. "Get your prices right and the rest will follow", as its CEO Nick Robertson said.

 

In the rest of the world, turnover grew 10 %, a 'weaker' result because of the Russian situation. Worse currency exchange rates have halved its quarterly turnover.

 

Asos is currently active in 240 countries and had 9.3 million active customers by the end of February, with 88 million visits to its website in that month.

Questions or comments? Please feel free to contact the editors


Scotland is first to enforce minimum alcohol price

21/11/2017

Scotland is the first in the world to finally enforce a minimum price for alcohol. The law as approved in 2012, but whisky distillers managed to block the legislation up until now.

Europe approves organic reform, Belgium abstains

21/11/2017

The European Commission approved new legislation to simplify organic agriculture in Europe. It will be enacted in July 2020. There was no agreement among Belgian politicians, which is why Belgium abstained.

Greenpeace creates critical parody of Coca-Cola's Christmas commercial

20/11/2017

Many people consider Coca-Cola’s Christmas ad to signal the start of the holiday season. However, this time around, Greenpeace created a parody to highlight the pollution at the hands of the soda manufacturer.

Alibaba invests 2.5 billion euro in Auchan subsidiary

20/11/2017

Chinese eCommerce giant Alibaba acquired a 36 % stake in supermarket firm Sun Art Retail Group, China’s second largest supermarket chain with 450 supermarkets. French retailer Auchan is the group’s largest shareholder.

Lucas Bols drunk in love with Passoã

16/11/2017

Liquor manufacturer Lucas Bols’ turnover has grown 23.8 % in the first six months of its broken fiscal year, to 48.8 million euro. Aside from 0.5 %, the entire growth is thanks to liquor brand Passoã’s integration.

"Hunkemöller prepares IPO"

16/11/2017

According to financial press agency Bloomberg, investment company Carlyle Group ordered Rothschild bankers to prepare an IPO for Hunkemöller.

Back to top