The year to August 31st saw ASOS generate a 26 per cent rise in its sales to reach £1.4 billion. UK sales rose by 27 per cent, sales from Europe were 28 per cent up and the USA generated a 50 per cent increase. The closure of its Chinese site saw it incur exceptional costs of £32.7 million which impacted on its pre-tax profits which would otherwise have stood at £63.7 million.
ASOS’ Barnsley fulfilment centre has, of course, been in the news lately following complaints about working and contractual practices at the site. This followed on from the furore at the Sports Direct distribution centre. CEO Nick Beighton has said that ASOS has nothing whatever to hide and has denied any wrongdoing.
He went on to say, about ASOS’ annual performance, “The strength of these results reflects our unwavering focus on delivering great customer experience, supported by rigorous execution of our investments. We continue to target our growth opportunities, so we’re accelerating investment in both logistics and technology. The pace at ASOS is continuing in the new financial year, which we are looking forward to with confidence.”
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