Fashion Giant Asos Thrives Amidst Challenging Market
- Asos reports 27% retail sales growth for six months to February 28, 2018
- UK sales up by 22%, international sales up by 31%
- Try before you buy scheme contributes to growth
- ASOS retains top spot for unique visitors in 15-34 age range
- US retail sales grow 20% due to basket value and conversion improvements
- EU retail sales up 40%, driven by France and Germany
- Asos Premier launched in Austria, Ireland, Netherlands, Belgium, Denmark, Sweden
- CEO Nick Beighton: ‘customer engagement is strong and investment in technology and distribution continues’
- Aiming for £4bn net sales with focus on fashion-loving 20-somethings
Fashion giant Asos has reported a retail sales growth of 27% for the six months ending February 28, 2018. The UK saw a 22% increase in sales with strong international growth of 31%. The company attributes this success to ‘extra enhancements’ such as their ‘try before you buy’ scheme and maintaining its position as the top apparel retailer for visitors aged 15-34. US retail sales grew by 20%, driven by average basket value and conversion improvements, while EU retail sales increased significantly at 40% due to strong demand in France and Germany. Asos Premier has been launched in Austria, Ireland, the Netherlands, Belgium, Denmark, and Sweden. CEO Nick Beighton stated that these results demonstrate strong trading amidst substantial investment in the company’s future, with customer engagement reaching new heights and over one billion site visits for the first time. The focus remains on people, technology, and distribution to reach a £4bn net sales goal, targeting fashion-loving 20-somethings worldwide.
Factuality Level: 10
Factuality Justification: The article provides accurate and objective information about Asos’ retail sales growth, international performance, customer engagement, and expansion plans without any digressions or personal perspective presented as a universally accepted truth.
Noise Level: 3
Noise Justification: The article provides relevant information about Asos’ retail sales growth and expansion into new markets, as well as customer engagement and investment in technology and logistics. It also includes specific numbers for growth percentages in different regions. However, it lacks a deeper analysis of the factors contributing to this success or potential challenges faced by the company.
Financial Relevance: Yes
Financial Markets Impacted: Asos’ strong retail sales growth impacts its stock price and may affect other online fashion retailers’ stocks
Financial Rating Justification: The article discusses Asos’ financial performance, including its retail sales growth in various regions and the impact of new initiatives on its business. This information is relevant to investors and can potentially influence the stock prices of Asos and similar companies.
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 article.
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