Asos group sales rise nearly 20% during lockdown

Asos announced its group sales for the year rose 19% to £3.3bn from last year’s sales of £2.7bn.

The online fashion retailer saw its UK sales increase by 18% to £1.2bn compared with last £1.02bn last year.

Asos said its sales were driven by an additional 23 million customers who shopped at Asos over the summer lockdown period.

Related Articles

Profit before tax increased by £109m to £142.1m, a steep climb from £33.1m in 2019.

Asos said it had experienced initial challenges in securing stock from suppliers who were locked down and delayed freight which disrupted the supply chain.

Demand for occasion and formal-wear fell after the onset of coronavirus, although it saw strong growth in casual wear and lockdown-relevant product categories.

Nick Beighton, chief executive of Asos said: “As well as protecting staff, suppliers and customers, we’ve driven efficiency and have emerged a stronger, more resilient and agile business whilst delivering strong profit and cash generation.”

The fashion giant noted that it had experienced a “solid” start to its current financial year, but that it was remaining cautious in terms of consumer demands and changes.

Beighton added: “After a record first half which saw us make progress in addressing the performance issues of the previous financial year, the second half will always be defined by our response to Covid-19.

“Asos will continue to engage, respond and adapt as one of the few truly global leaders in online fashion retail.”

Back to top button

Please disable your ad-blocker to continue

Ads are the primary way in which publishers generate the revenue needed to pay their staff. If we can't serve ads, we can't pay journalists to write the news.