Asos turnover growth slows down

Asos turnover growth slows down

British online fashion retailer Asos's September-November turnover increase was remarkably smaller than in previous years, as a strong British pound has impacted results.

Setback outside the United Kingdom

In the past quarter, Asos managed an 8 % turnover increase while the average turnover increase reached 30 % over the past 2 years. Abroad, Asos even had to deal with a 2 % turnover drop to 141.5 million pounds (179 million euro). 57 % of Asos's turnover comes from abroad but the pound is currently performing so well, that products are more expensive abroad.

 

To avoid that problem, products will no longer be tied to the pound, but will be decided on a country-by-country basis, which is already the case in Australia and France.

 

Asos still performs well in the United Kingdom: turnover grew 24 % to 104.8 million pounds (132 million euro) and the company hopes to get a 2015 profit of 46 million pounds (58 million euro).

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