Apparently ASOS didn’t receive the memo about the country being in the midst of an economic downturn. The online fashion merchant posted a 90 per cent leap in annual revenue, to £81.0 million for the fiscal year ended 31st March. Even more impressive, profit before tax more than doubled, from nearly £3.4 million the previous year to £7.3 million.
The company continued its strong performance through the first quarter of the current fiscal year, with sales for the 13 weeks to 27th June up 95 per cent from a year ago. Among other statistics released by Asos in its final-results report: average order size: £53.0, up 24 per cent from the previous year average price point: £20.89, up 24 per cent percentage of returns to sales by value: 26.1 per cent, an increase of 21 per cent number of registered online users: 1.65 million percentage of sales attributed to twice-weekly customer emails: 9 per cent.
Going forward, ASOS plans to launch a range of maternity apparel and expand its women’s ranges up to size 20. It is debuting a clearance section of its website, ASOS Red, in September. The following month it will introduce several delivery options, including a named-day delivery, Saturday delivery and a same-day service for customers within the M25 catchment area.
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