It has been revealed that online retailer ASOS has reported its retail sales increased 26% to £1.4 billion for the year to 31st August, which was helped by product, further price investments and delivery improvements.
Figures show that UK retail sales grew 27%, the US increased 50% and the EU increased 28%, whilst continuing profit before tax and exceptional products grew 37% to £63.7 million as investments in delivery proposition, marketing and depreciation were offset by warehouse automation efficiencies and the non-recurrence of last year’s £4.9 million fixed asset write-offs.
Chief executive at ASOS, Nick Beighton, said: “The strength of these results reflects our unwavering focus on delivering great customer experience, supported by rigorous execution of our investments. We continue to target our growth opportunities, so we’re accelerating investment in both logistics and technology. The pace at ASOS is continuing in the new financial year, which we are looking forward to with confidence.”
Also contributing to its success, is the continuation of mobile use, where the company now has over 10 million active installs of its app and saw 7.5 million new downloads within its financial year.
Research has shown that customers shop via the app either times a month and spend over 70 minutes online. This has shown that 66% of traffic comes from a mobile and 51% of orders are placed via the company’s mobile platform.
