Asos sales jump 13%

Online retailer Asos has reported a 13% increase in total sales on a reported basis, for the three months ending 28 February 2019.

Total orders placed during the period increased by 15% to 17.3m year-on-year, and retail gross margin increased by 40 bps.

Additionally, the retailer said it continued to “outperform in the UK” with sales growth of 14%. Sales in Europe grew by 12%, but Asos said France and Germany, its two largest markets, “continues to be challenging”.

CEO Nick Beighton: “Our retail gross margin guidance for the year remains. We will be increasing investment in price and marketing in the second half, particularly in France and Germany. Given the actions we are taking together with an improving US performance, we believe the group will deliver stronger growth in the second half.

“Consequently we remain confident that we will meet guidance for the full year.”