ASOS sales up

ASOS reports a strong start to the year following record sales over Cyber weekend and the Christmas trading period.

Total retail sales for the four months to the end of December rose by 36% £605.7m - up 30% at constant currencies.

Highlights:

- Strong performance in the UK with retail sales growth of +18% in a more promotional market

- International retail sales accelerated to +52% aided by the reinvestment of the FX tailwind resulting from sterling weakness and US import duty benefits

- Retail gross margin down 30bps on prior year, in line with plan

- Continued strong customer engagement: active customers +25%, average basket value +2%, average order frequency +6%

- Total orders shipped 15.5m, +35% year on year

Chief executive Nick Beighton said: "Following record sales over Cyber weekend and the Christmas trading period, I'm pleased to report a strong start to the year. A 50% plus increase in international sales is a standout performance. UK sales growth at 18% was a strong performance in a more promotional market.

"With sales for the year now expected to be up by c.25 to 30%, we're accelerating our infrastructure investment to handle that growth. ASOS remains well set to meet its longer-term ambitions as a result of the hard work and commitment of the team."