Total retail sales at fashion etailer ASOS were up 38 per cent to £206 million for the 12 months to 31st March 2010. UK retail sales rose 23 per cent in the period, whilst international sales doubled and now account for 28 per cent of total retail sales. Profit is expected to be in line with market expectations. Since year-end, sales have continued their upward trajectory-for the 19 days to 19th April, overall sales surged 56 per cent with international sales particularly strong in the period, up 148 per cent.
Flying Brands says a disappointing performance in its gardening division means meeting profit expectations for the year will be a “considerable challenge”. Poor weather hampered the division, which includes the Gardening Direct catalogue; sales were down 4.8 per cent to £8 million for the period from 2nd January to 2nd April. Orders at Flying Flowers also continue to decline from £3.1 million in the equivalent period last year, to £2.3 million this year; this, according to a statement, is in line with expectations. For the business as a whole, like-for-like order intake during the period was down 11.6 per cent from £12.7 million to £11.3 million.
New EU rules intended to help luxury-brand owners protect their brand image are set to restrict the online sale of branded goods. According to the Wall Street Journal, the rules enable brand owners can insist that only stores with a bricks-and-mortar presence will be able to distribute their goods-putting Amazon and eBay, as well as smaller online retailers, at a disadvantage. The article also says that the inability for consumers to purchase luxury brands online will push prices up and limit consumer choice. Among other concerns is that the ruling, designed to protect high-end firms like Louis Vuitton, will be “hijacked by the manufacturers of everyday products such as prams and electronic goods”.
Confectioner Thorntons reported that overall sales for the third quarter to 17th April rose 3.1 per cent to £60.3 million. According to a company statement, the company’s direct-sales arm made “good progress” and grew by 32.4 per cent to £2.5 million-both the consumer and corporate business made a positive contribution. Profit for the year is expected to beat last year’s by 19 per cent, rising to £7.5 million from £6.3 million.
Tesco’s online business, including its Tesco.com groceries website and the nonfood Tesco Direct business, grew sales by 14 per cent and profits by 26 per cent to £136 million in the 52 weeks ended 27th February. Tesco Direct, which has not yet reached profitability, delivered a sales growth of 28 per cent.
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