Asos sales rise 26% despite Covid ‘uncertainty’
Despite the rise in sales, the retailer stated that trading in the last three weeks of the period was more muted
Asos has reported that total sales soared 26% to £1.24bn in the four months ended 30 June 2021, up from the £983.3m reported the previous year, as the retailer continued to attract more customers.
Total group revenue also increased over the period, rising by 27% to £1.28bn, up from £1.01bn in 2020. Asis said this came against a backdrop of continued restrictions on consumers, “volatile” demand and increased global supply chain pressures.
Despite the rise in sales, the retailer stated that trading in the last three weeks of the period was more muted, however, as continued Covid uncertainty and “inclement weather”, particularly in the UK, impacted market demand.
As a result, the group now expects its underlying growth rate to be “broadly in line” with its prior year comparable period as well as its full year adjusted profit before tax.
Nick Beighton, CEO, Asos, said: “Asos has delivered another strong performance against a backdrop of continued social restrictions and global supply chain pressures, and I would like to thank our ASOS team members for their continued commitment, resilience, and enthusiasm through the pandemic.
“Although mindful of the continued impacts of the pandemic on our customers in the short term, we believe that the structure of the global e-commerce fashion market has changed forever, which will drive an increase in online fashion sales over the long term.”
He added: “We’re excited about the size of the prize ahead of us and the opportunity of delivering on our ambition of being the number one destination for fashion-loving 20-somethings.”
