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Asos enjoys 22% sales growth

Fashion giant Asos has generated retail sales growth of 27% for the six months to 28 February 2018.

The UK had growth of 22% with strong international growth of 31%, despite a “challenging market”. The firm said “extra enhancements” such as a ‘try before you buy’ scheme had contributed to the growth.

ASOS retained its first place position for unique visitors to apparel retailers in the 15-34 age range.

US retail sales also grew by 20% driven by average basket value and conversion improvements, while EU retail sales grew significantly at 40%, driven by strong demand in France and Germany in particular. Asos Premier launched in new countries such as Austria, Ireland, the Netherlands, Belgium, Denmark and Sweden.

Nick Beighton, CEO, said: “These results show strong trading at the same time as we are making substantial investment in our future. Our customer engagement is going from strength to strength and we’ve achieved more than a billion site visits for the first time.

“Alongside our investment in our people and our technology, we are accelerating investment in our distribution and logistics, laying the foundation for £4bn of net sales, a further step in building Asos into the world’s number one destination for fashion-loving 20-somethings.”

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