Asos says it’s set to achieve its plans to reach £2.5bn of annual revenues two years early. The retailer, a Top50 retailer in IRUK Top500 research, reported group revenues of £2.4bn and retail sales of £2.3bn in the year to August 31 – both up by 26%. Sales were up both in the UK (+23%) and internationally (+27%), while pre-tax profits of £102m were 28% up on last time. Its retail sales grew by more than 20% for the third year in a row – so what is Asos doing so right? We took a look at its full-year report to find out more about how the retailer is investing more while improving the service its customers get – and winning more sales at the same time.
In its chief executive’s words
Chief executive Nick Beighton says the growth has come with record levels of investment. Financial and customer key metrics have all been in positive territories. “Asos is moving fast and is as differentiated as ever,” he said. “The potential for our business is huge and we remain focused on building Asos into the world’s number one destination for fashion-loving twentysomethings.”
Changing UK loyalty
Asos enjoyed what it says…