Online Fashion Retailer ASOS Thrives Amidst Investments
- 26% increase in sales to £2.4bn
- UK retail sales at £861m, international sales at £1.5bn
- Profit before tax up 28% at £102m
- 18.4 million active customers, a 19% increase
- Investment in long-term potential of the business
Online fashion retailer ASOS has reported a significant increase in sales, with a 26% growth to £2.4bn compared to the previous year’s £1.9bn. The UK retail sales accounted for £861m while international sales reached £1.5bn by the end of August 31, 2018. The company’s revenues also grew by 26%. ASOS’ profit before tax increased by 28% to £102m. The retailer has seen a significant rise in active customers, reaching 18.4 million, an 19% increase compared to the previous year. CEO Nick Beighton stated that they have delivered substantial progress while investing heavily in the long-term potential of the business. Despite bearing material transition costs due to their investment program, all financial and customer key metrics show positive growth. The company’s guidance remains unchanged for both the current year and the medium term, despite record levels of investment. ASOS aims to become the world’s number one destination for fashion-loving twentysomethings.
Factuality Level: 10
Factuality Justification: The article provides accurate information about ASOS’ sales growth, profit increase, and customer base expansion without any irrelevant or misleading details, sensationalism, redundancy, or personal perspective presented as a fact.
Noise Level: 2
Noise Justification: The article provides relevant information about ASOS’ financial performance and growth, including sales increase, profit before tax, and active customers. It also includes a quote from the CEO. However, it lacks in-depth analysis or exploration of long-term trends or consequences of decisions.
Financial Relevance: Yes
Financial Markets Impacted: ASOS’ stock price and other online retailers
Financial Rating Justification: The article discusses ASOS’ financial performance, including sales growth, profit increase, and customer metrics. This information is relevant to the company’s financial health and can impact its stock price as well as the performance of other online retailers.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the text.
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