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.
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.