Is Asos suffering fashion blues? No way!

Asos SS16Good news from Asos today. The pureplay fashion e-tailer saw total sales rising 30%, or 26% currency-neutral to £514.6m in the four months to June 30, a slight acceleration from a still-enviable 25% currency-neutral rise in the 10 months to the end of June. Yippee.

Unfortunately, the sales announcement came with none of the ‘colour’ you hope to get from these things with no comments about what people are buying, no complaints about the weather, no discussion of m-commerce and no mention of the B word (that’s Brexit, as if you didn’t know). I suppose we’ll have to wait for an exec conference call later today.

So what did we get? Well, currency-neutral sales rose faster in the UK than the company average in the four months (28%) and in the US (45%) but still managed a 22% surge in the EU and a 16% rise in the rest of the world (RoW).

International retail sales now make up 59% of the company’s total turnover and it has seen a 24% tis win customer numbers to 12m. But its retail gross margin down  was down around 180bps on the prior year due to sale phasing and planned price investment

The company now expects full -ear sales growth at the upper end of the 20% to 25% range.

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