Trading Statement

Released : 13/07/2017 07:00

RNS Number : 9094K
ASOS PLC
13 July 2017
 

13 July 2017

 

ASOS plc ("the Company")

 

Trading Statement for the four months ended 30 June 2017

 


Four months to 30 June

£m1

2017

20162

Reported Increase

CCY3 Increase

2017

20162

Reported Increase

CCY3 Increase

UK retail sales

234.6

203.1

16%

16%

575.4

492.6

17%

17%

  US retail sales

94.4

68.3

38%

26%

218.7

145.1

51%

33%

  EU retail sales

196.6

139.5

41%

30%

445.5

307.4

45%

34%

  ROW retail sales

134.5

87.4

       54%

41%

309.7

197.8

57%

47%

International retail sales

425.5

295.2

44%

32%

973.9

650.3

50%

38%

Total retail sales

660.1

498.3

 32%

26%

1,549.3

1,142.9

36%

29%










Total group revenue4

675.8

512.4

32%

26%

1,587.3

1,175.5

35%

29%

 

1All numbers subject to rounding throughout this document

2Restated to remove the results of the discontinued operation in China

3Constant currency is calculated to take account of hedged rate movements on hedged sales and spot rate movements on unhedged sales

4Includes retail sales, delivery receipts and third party revenues

 

Highlights include:

 

·    International retail sales growth of +44%, UK +16%

·    Continued strong customer engagement: active customers5 +25%, average basket value +3%, average order frequency6 +6%, conversion +10bps

·    Retail gross margin flat versus prior year

·    Total orders shipped 16.9m, +28% year on year

·    Phase 1 transition to Eurohub 2 warehouse operational and phase 2 underway

·    Over 300 tech releases in the period

 

Guidance:

 

·    Current financial year reported sales growth anticipated to be at the upper end of the 30-35% range

·    Full Year PBT anticipated to be in line with market consensus7

·    Full year capital expenditure anticipated to be in the £150-170m guided range   

·    Medium term reported sales growth guidance remains unchanged at c.20-25% p.a.

 

 

Nick Beighton, CEO, commented:

"Strong H1 sales momentum has continued through the third period supported by our ongoing investment in our customer proposition and in price.

 

This good performance has been underpinned by advances across all areas of our business including retail, technology, warehousing, delivery solutions and customer care. We have made a smooth transition to our new Eurohub 2 facility in Germany and anticipate confirming a new US logistics hub soon.

 

We remain on track and confident of meeting market expectations and will release our results for the year to 31 August 2017 on 17 October 2017."

 

 

5Defined as having shopped in the last 12 months as at 30 June 2017

6Calculated as last 12 months' total orders divided by active customers

7Company compiled PBT consensus for FY 2017 of £79.4m

 

 

Investor and Analyst conference call:

 

ASOS will be hosting a conference call for analysts and investors at 8.30am (UK Time) today. Please call Guy Scarborough at Instinctif Partners for dial-in details on 020 7457 2047 or email guy.scarborough@instinctif.com.

 

A recording of this conference call will be available on the ASOS Plc investor centre website later today: http://www.asosplc.com/investors.aspx 

 

 

For further information:

 

ASOS plc                                                                          

Tel: 020 7756 1000

Nick Beighton, Chief Executive Officer

Helen Ashton, Chief Financial Officer

Greg Feehely, Director of Investor Relations

Website: www.asosplc.com/investors

 


Instinctif Partners

Matthew Smallwood / Guy Scarborough 

 

 

Tel: 020 7457 2020

JPMorgan Cazenove 

Michael Wentworth-Stanley / Caroline Thomlinson

 

Tel: 020 7742 4000

Numis Securities

Alex Ham / Luke Bordewich

Tel: 020 7260 1000



 

 

Forward looking statements:

 

This announcement may include statements that are, or may be deemed to be, "forward-looking statements" (including words such as "believe", "expect", "estimate", "intend", "anticipate" and words of similar meaning). By their nature, forward-looking statements involve risk and uncertainty since they relate to future events and circumstances, and actual results may, and often do, differ materially from any forward-looking statements. Any forward-looking statements in this announcement reflect management's view with respect to future events as at the date of this announcement. Save as required by applicable law, the Company undertakes no obligation to publicly revise any forward-looking statements in this announcement, whether following any change in its expectations or to reflect events or circumstances after the date of this announcement.

 

 

Background note:

 

ASOS is a global fashion destination for 20-somethings. We sell cutting-edge fashion and offer a wide variety of fashion-related content, making ASOS.com the hub of a thriving fashion community. We sell over 85,000 branded and own-label products through localised mobile and web experiences, delivering from our fulfilment centres in the UK, US and Europe to almost every country in the world.

 

We tailor the mix of own-label, global and local brands sold through each of our eight local language websites: UK, US, France, Germany, Spain, Italy, Australia and Russia.

 

ASOS's websites attracted 146 million visits during June 2017 (June 2016: 123 million) and as at 30 June 2017 it had 15.0 million active customers1 (30 June 2016: 12.0 million), of which 5.2 million were located in the UK and 9.8 million were located in our international territories (30 June 2016: 4.6 million in the UK and 7.4 million internationally).

 

1Defined as having shopped in the last 12 months as at 30 June 2017

 

 

Appendix 1 - Retail sales growth by period in sterling

 

Year ending 31 August 2017

 

£m

P12

YOY%

P22

YOY%

P32

YOY%

P42

YOY%

 2016/17 YTD 

YOY%

UK retail sales

244.0

18%

96.8

16%

234.6

16%



575.4

17%

   US retail sales

82.7

66%

41.6

54%

94.4

38%



218.7

51%

   EU retail sales

165.8

49%

83.1

46%

196.6

41%



445.5

45%

   ROW retail sales

113.2

46%

62.0

88%

134.5

54%



309.7

57%

International retail sales

361.7

52%

186.7

60%

425.5

44%



973.9

50%

Total retail sales

605.7

36%

283.5

42%

660.1

32%



1,549.3

36%

 

Year ending 31 August 20161

£m

P12

YOY%

P22

YOY%

P32

YOY%

P42

YOY%

 

   2015/16   

YOY%

UK retail sales

206.2

25%

83.3

26%

203.1

28%

111.2

32%

603.8

27%

   US retail sales

49.7

42%

27.1

38%

68.3

53%

34.1

67%

179.2

50%

   EU retail sales

111.0

29%

56.9

14%

139.5

32%

67.5

30%

374.9

28%

   ROW retail sales

77.4

3%

33.0

(5%)

87.4

16%

48.0

21%

245.8

9%

International retail sales

238.1

21%

117.0

12%

295.2

31%

149.6

34%

799.9

25%

Total retail sales

444.3

23%

200.3

18%

498.3

30%

260.8

33%

1,403.7

26%

 

Year ending 31 August 20151

£m

P12

YOY%

P22

YOY%

P32

YOY%

P42

YOY%

 2014/15 

YOY%

UK retail sales

165.5

24%

65.9

36%

158.4

27%

84.1

29%

473.9

27%

   US retail sales

34.9

8%

19.6

35%

44.5

43%

20.5

41%

119.5

29%

   EU retail sales

86.3

(1%)

49.9

24%

105.8

21%

52.0

26%

294.0

15%

   ROW retail sales

75.3

(8%)

34.7

8%

75.1

(1%)

39.7

3%

224.8

(2%)

International retail sales

196.5

(3%)

104.2

20%

225.4

16%

112.2

19%

638.3

10%

Total retail sales

362.0

8%

170.1

26%

383.8

20%

196.3

23%

1,112.2

17%

 

1Restated to remove the results of the discontinued operation in China

2Periods are as follows:

P1: four months to 31 December

P2: two months to 28/29 February

P3: four months to 30 June

P4: two months to 31 August

 

 

Appendix 2 - Retail sales growth by period at constant currency1

 

Year ending 31 August 2017

£m

P13

YOY%

P23

YOY%

P33

YOY%

P43

YOY%

 2016/17 YTD 

YOY%

UK retail sales

244.0

18%

96.8

16%

234.6

16%



575.4

17%

   US retail sales

82.7

42%

41.6

34%

94.4

26%



218.7

33%

   EU retail sales

165.8

38%

83.1

36%

196.6

30%



445.5

34%

   ROW retail sales

113.2

44%

62.0

70%

134.5

41%



309.7

47%

International retail sales

361.7

41%

186.7

45%

425.5

32%



973.9

38%

Total retail sales

605.7

30%

283.5

33%

660.1

26%



1,549.3

29%

 

Year ending 31 August 20162

£m

P13

YOY%

P23

YOY%

P33

YOY%

P43

YOY%

 

 2015/16

YOY%

UK retail sales

206.2

25%

83.3

26%

203.1

28%

111.2

32%

603.8

27%

   US retail sales

49.7

35%

27.1

32%

68.3

45%

34.1

47%

179.2

40%

   EU retail sales

111.0

40%

56.9

17%

139.5

22%

67.5

30%

374.9

28%

   ROW retail sales

77.4

15%

33.0

-

87.4

17%

48.0

20%

245.8

14%

International retail sales

238.1

29%

117.0

14%

295.2

25%

149.6

29%

799.9

25%

Total retail sales

444.3

27%

200.3

19%

498.3

26%

260.8

30%

1,403.7

26%

 

Year ending 31 August 20152

£m

P13

YOY%

P23

YOY%

P33

YOY%

P43

YOY%

2014/15

YOY%

UK retail sales

165.5

24%

65.9

36%

158.4

27%

84.1

29%

473.9

27%

   US retail sales

34.9

9%

19.6

25%

44.5

31%

20.5

31%

119.5

22%

   EU retail sales

86.3

6%

49.9

34%

105.8

37%

52.0

41%

294.0

26%

   ROW retail sales

75.3

(3%)

34.7

14%

75.1

5%

39.7

14%

224.8

5%

International retail sales

196.5

3%

104.2

25%

225.4

23%

112.2

28%

638.3

17%

Total retail sales

362.0

11%

170.1

29%

383.8

25%

196.3

29%

1,112.2

21%

 

1From 1 July 2016, constant currency is calculated to take account of hedged rate movements on hedged sales and spot rate movements on unhedged sales

2Restated to remove the results of the discontinued operation in China

3Periods are as follows:

P1: four months to 31 December

P2: two months to 28/29 February

P3: four months to 30 June

P4: two months to 31 August


 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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