Final results for ASOS reveal 'solid finish' for 2019 financial year

Camden-headquartered online fashion retailer ASOS has revealed its final results for the year to August 31 2019.

The fashion brand’s general retail sales have gone up by 13 per cent, while UK sales growth has seen a jump of 15 per cent. In the US, this figure has gone up by nine per cent, and in the Republic of Ireland it stands at 12 per cent.

Total orders placed stood at 72.3m, up 14 per cent year-on-year. ASOS’ sales growth has gone up 14 per cent, too.

Nick Beighton, CEO of ASOS, said: “This financial year was a pivotal period for ASOS, where we have invested significantly and enhanced our global platform capability to drive our future growth.

“Regrettably this was more disruptive than we originally anticipated. However, having identified the root causes of our operational issues, we have made substantial progress over the last few months in resolving them.

“Whilst there remains lots of work to be done to get the business back on track, we are now in a more positive position to start the new financial year.”

The company’s priorities for FY20 include: Becoming more organised to deliver effectively; removing non-strategic costs; increasing its product offerings; and optimising its approach to customer acquisition and retention.

Nick added: “Our focus now shifts to ensuring that we enhance our capability to drive an improved customer experience and leverage the benefits from the investments we have made.

“With over 60 per cent of our revenue coming from international customers and a strong global logistics platform with capacity to grow, we are well positioned to take advantage of the global growth opportunity ahead of us.”

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →