DOCSLIB.ORG

ASOS PLC Annual Report and Accounts 2020 STRATEGIC REPORT 1 2

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
ASOS PLC Annual Report and Accounts 2020 STRATEGIC REPORT 1 2 Agile Resilient Stronger ASOS PLC Annual Report and Accounts 2020 About us Highlights REPORT STRATEGIC We are an online retailer for fashion-loving 20-somethings around Revenue the world. Our purpose is to give our customers the confidence 2019: £2,733.5m to be whoever they want to be. Through our market-leading 2018: £2,417.3m app and web experience, ASOS customers can shop a curated A statement from edit of c.85,000 products, sourced from 850+ of the best global our Chairman, £3,263.5m and local third-party brands, alongside our mix of fashion-led Adam Crozier in-house labels including ASOS DESIGN, ASOS EDITION, ASOS Page 4 4505 and Collusion. We aim to deliver a truly frictionless experience for our customers, with an ever-greater number of Diluted EPS1 payment methods and hundreds 2019: 29.4p of local delivery and returns 2018: 98.0p options, dispatched from state-of- 125.6p Cash the-art fulfilment centres in the generation2 UK, US and Germany. 2019: (£133.2m) 2018: (£117.6m) Gross margin £258.6m 2019: 48.8% 2018: 51.2% Page 24 47.4% Our performance The people by market behind the brand Contents Page 10 Strategic report Governance report Financial statements Profit 1 Highlights 36 Board of Directors 76 Independent Auditors’ Report to the Members 1 2 A truly global retail leader 39 Corporate Governance Report of ASOS Plc before tax 4 Chairman’s statement 45 Audit Committee Report 81 Consolidated Statement of Total Comprehensive Income 2019: £33.1m 6 Operational & financial review 49 Nomination Committee Report 82 Consolidated Statement of Changes in Equity 10 Performance by market 51 Directors’ Remuneration Report 1 2018: £102.0m 83 Consolidated Statement of Financial Position 12 Strengthened foundations for growth 71 Directors’ Report EBITDA margin 84 Consolidated Statement of Cash Flows 16 Key Performance Indicators 74 Statement of Directors’ Responsibility 2019: 3.9% 85 Notes to the Financial Statements 18 Looking to the future 111 Company Statement of Changes in Equity 2018: 6.5% 20 Our business model 112 Company Statement of Financial Position 22 Stakeholder engagement £142.1m 113 Company Statement of Cash Flows 24 The people behind the brand 114 Notes to the Company Financial Statements 26 Fashion with Integrity 8.2% 118 Five-Year Financial Summary (unaudited) 30 Managing risk at ASOS 120 Company information 32 Principal risks and opportunities 1 FY20 figures include the transition to IFRS 16 ‘Leases’ 2 FY20 figure is excluding the net equity raise proceeds of £239.4m ASOS PLC Annual Report and Accounts 2020 ASOS PLC Annual Report and Accounts 2020 1 A truly global REPORT STRATEGIC retail leader 85K+ From almost any country in the world, you can shop over products 85,000 products from ASOS’ own collections and other on site global brands. US UK million Retail Sales 23active customers Retail Sales Our mission is to be the world’s number one localised sites, in 10 languages and £401.9m fashion destination for fashion-loving 19 currencies. Our global network of £1,175.9m 20-somethings. We believe in a world fulfilment and returns centres use the latest +18% where you have the freedom to explore automation to improve availability and +18% and express yourself without judgement, no stock efficiency, while smart carrier software matter who you are or where you’re from. and best-in-class propositions make That is why our purpose is to give fashion- rapid and convenient deliveries and loving 20-somethings the confidence to be returns possible in more countries. whoever they want to be. We give our Berlin Euro Hub customers confidence by creating and – Fully automated curating products and experiences to inspire – Capacity to handle 20m units them. Our market-leading app and website now boast more localised and personalised shopping features than ever before, and customers can now shop on 12 fully Atlanta – 1m Sq Ft – 1.5m customer fulfilment capacity Barnsley EU – 1.5 orders placed per second Retail Sales £1,005.3m +22% New brands Pride with our fourth ASOS X GLAAD& drop and are proud to have given and collaborations 100% of the net profits of this rainbow Our brand offering is more desirable pastel collection to GLAAD (Gay and than ever, with ASOS seen as the Lesbian Alliance Against Defamation). RoW one-stop shop for fashion-loving We had stellar results from product 20-somethings. We added over 100 collaborations and style edits with Retail Sales brands to our offering during the year, carefully selected influencers throughout including fashion giant Topshop and the year. Highlights include a second £587.9m cult beauty labels Urban Decay and collection with Ovie Soko and edits Charlotte Tilbury. We captured attention with Delilah Bell and Emily Shak. +18% with sought after collaborations including Our influencer content garnered huge POLO Ralph Lauren X ASOS, a perfect engagement, with wide-reaching mix of classic heritage design and organic impressions and large uplifts on the associated product. c.850 throwback 90s style. We celebrated third-party brands Map key Fulfilment Centres Returns Centres 2 ASOS PLC Annual Report and Accounts 2020 ASOS PLC Annual Report and Accounts 2020 3 Chairman’s REPORT STRATEGIC statement To further protect ASOS, we also made It would also not have been possible without As we finish this period with a solid set of appropriate use of government support, the expert leadership and judgement shown results, I want to take this opportunity to thank including payment deferrals and job retention by our Executive team, who have been able you all for your unwavering resolve during Robust and resilient operations have enabled programmes. However, we did so with the to adapt at speed during this critical time. the most turbulent of times. The superb ASOS to successfully navigate an intention always to do the right thing and Their quick and commendable decision- response from everyone at ASOS, at every not take advantage of funding support which making has impressed me, and I am sure level, as well as all of our business partners, unprecedented year. we did not require. As a result, following they will emerge from this experience having has ensured that we have come through this our strong results in our P3 Trading Statement learned many valuable lessons for the future. stronger together. Your talent, passion and in July, we announced that we would be The past year has been one of significant enthusiasm is what drives our success. returning the funds received under the challenges, but we have emerged a better I would also like to express my regret that government’s furlough scheme and, later, business for it. With our internal capabilities we are unable to gather together for our the Bank of England’s Covid Corporate aligned to our global growth ambitions, we Annual General Meeting (AGM). As per Financing Facility. are ready for whatever the future may hold. government guidance on preventing the A tough but necessary Navigating our way through an spread of COVID-19, we will be holding Looking towards a sustainable transformation journey unprecedented year a closed meeting this year. Meeting future of continued growth face-to-face to discuss the Group’s annual Undoubtedly, our 2019 financial year was We started our 2020 financial year with performance and strategy is an important The organisation Across our markets, ASOS continues to be a challenging one for ASOS. As I wrote then, a strong first half performance, before part of the governance process, but has been able to adapt an important part of consumers’ lives. Our while we had made significant progress with the outbreak of COVID-19. Of course, protecting the health and safety of everyone longstanding commitment to our Fashion our transition to an expanded international the pandemic had significant repercussions, at speed and continue is paramount. We look forward to with Integrity programme, and to acting warehouse network, we had underestimated not just for ASOS, but for the entire world, welcoming you to the AGM in 2021. to focus on delivering as a responsible business, is at the heart the complexity of these changes, highlighting and for our customers, too. of everything we do. Purpose-led brands Until we meet again, look after yourselves where gaps in our experience and against the commitments Throughout the global pandemic, our first continue to trailblaze, so it is vital that moving and your families. capabilities existed within the business. priority was to protect the health, safety we made last year into 2021 we focus on operating in the right Coming out of that period we defined 2020 and wellbeing of our people. As we went into way. Even in these difficult times, we must as a pivotal year for ASOS. We entered it lockdown, we quickly redesigned how our never lose sight of the big picture. Alongside with the intention of using it both as a reset fulfilment centres operate, reducing their improving fiscal performance, we need to period for us to get back on track, and also We were able to make that decision because capacity and headcount to make them drive a transparent, responsible and inclusive as a priming phase for our next stage of of the strong financial results achieved by the COVID-secure and compliant with social approach to business to transform the impact growth, towards delivering world-class, lean business. In spite of the initial impact on sales distancing guidelines, and we moved all of of fashion on people, communities, animals and frictionless operations internationally. and customer demand caused by COVID-19, our office staff to working from home and the continued uncertain outlook into the and our shared planet.
Load more

Recommended publications
  • Can Arcadia Stop the Rot? As Sir Philip Green's Fashion Empire Faces Tough Times, Gemma Goldiingle and George Macdonald Analyse How It Can Turn the Corner
    14 Retail Week June 16, 2017 Can Arcadia stop the rot? As Sir Philip Green's fashion empire faces tough times, Gemma Goldiingle and George MacDonald analyse how it can turn the corner ashion giant Arcadia, owner of famous One of the Arcadia brands facing the fascias such as Topshop, Evans and most competition is the jewel in its Dorothy Perkins, suffered a steep fall in crown - Topshop. profits last year. The retailer was once a haven for FThe retailer's annual report and accounts, fashion-forward young shoppers and filed at Companies House this week, showed exuded cool. that earnings took a£129.2m hit from excep- However, over the past decade tionals as onerous lease provisions and costs Zara, H&M and Primark have surged relating to the now defunct BHS had an impact. in popularity while pureplay rivals But even before such items were taken such as Asos and Boohoo are also rivalling into account, operating profit slid 16% from Topshop in the style stakes. £252.9m to £211.2m on sales down from Some industry observers believe it is no £2.07bnto£2.02bn. longer the automatic first-choice shopping Arcadia faces many of the same problems destination for its young customers. as its peers, such as changes to consumer GlobalData analyst Kate Ormrod says: spending habits and currency volatihty, as well "Online pureplays are now the first port of as some particular challenges of its own. call. They are dominating in terms of customer Arcadia said: "The retail industry continues engagement. Shoppers are on there first thing Has Topshop(above, to experience a period of major change as in the morning and last thing at night." right) lost its cool customers become ever more selective and Ormrod says that Topshop needs to do more despite attempts to value-conscious and advances in technology to engage its customers online and connect remain current? open up more diverse, fast-changing and more with popular culture.
    [Show full text]
  • 22/02/2021 Asos Launches Expanded Topshop & Topman Range
    ASOS LAUNCHES EXPANDED TOPSHOP & TOPMAN RANGE WITH TARGETED CUSTOMER AWARENESS CAMPAIGN LONDON, 22nd February 2021: ASOS, one of the world’s leading online fashion retailers, has today launched a multi-million-pound campaign targeted at Topshop and Topman customers, letting them know that they can shop their favourite brands on ASOS following their acquisition at the start of the month. The social-led campaign will run across YouTube, TikTok, Snapchat, Facebook and Instagram for two weeks from today and is targeted at driving awareness among customers in the UK, US and Germany. It coincides with the first major drops of new product from the brands on ASOS since the acquisition and marks the first moment that customers will be able to access a wider range of items on the ASOS platform. Available product has already doubled since early February, with plans in place to double it again over the next few weeks. José Antonio Ramos, Chief Commercial Officer at ASOS, said: “Topshop and Topman were well-established, strong-performing brands on ASOS prior to the acquisition, and we know our customers loved them just as much as us. Their integration with ASOS is going well, and our long-term plans to revitalise the brands and inject new life into them will translate into more new, exciting and fashion-led products launching in the months ahead.” Alongside activations and new customer discount codes in the UK and Germany, ASOS will be running 25%-off promotions for each of the brands across Europe, Australia and the US today and Tuesday, as a way of welcoming new and returning customers and inviting them to reexperience the brands.
    [Show full text]
  • Nordstrom and ASOS: a Game-Changing Joint-Venture
    Nordstrom and ASOS: A Game-Changing Joint-Venture July 12, 2021 We're excited to announce a new joint venture with ASOS, an online retailer for fashion-loving 20-somethings around the world with a purpose to give its customers the confidence to be whoever they want to be. What the venture entails: We're acquiring a minority interest in ASOS Holdings, which holds the Topshop, Topman, Miss Selfridge and HIIT brands to help drive the growth of these brands and sit alongside a new wider strategic partnership. ASOS will retain operational and creative control of Topshop, Topman, Miss Selfridge and HIIT brands. A shared ownership model with a Nordstrom seat on the ASOS Holdings board will ensure close collaboration between us and ASOS, driving a stronger future for the iconic Topshop, Topman, Miss Selfridge and HIIT brands worldwide. We will now have the exclusive multi-channel retail rights for Topshop and Topman in all of North America, including Canada and own a minority stake globally. We will also become the only brick-and-mortar presence for these brands worldwide. Why this is a big deal: President and Chief Brand Officer Pete Nordstrom said it best, "We could not have found a better partner in ASOS, the world leader in fashion for the 20-something customer, and are thrilled to have the opportunity to work with them to reimagine the wholesale/retail partnership. Bringing the ASOS brands, including Topshop and Topman, to our customers allows us to create newness and excitement and offer more relevant products to this dynamic customer segment so we can continue to deliver on our commitment to help them feel good and look their best." This investment will help drive the growth of these brands globally, setting the stage for us and ASOS to sit alongside a new wider strategic partnership.
    [Show full text]
  • The UK Online Audience
    The UK Online Audience Julie Forey IAB Research Breakfast Oct 2019 UKOM Website: www.ukom.uk.net UKOM Insights: Fashion Retailers 2019 UKOM Insights: Fashion Retailers 2019 Apparel Retail Category: Reach by Demographics Reach is much higher among females % 100.0 90.0 90.0 86.0 86.3 81.5 80.0 78.1 68.3 68.9 70.0 64.6 60.4 62.6 60.1 60.0 51.3 47.9 48.2 50.0 43.5 43.8 44.1 40.0 37.2 30.0 20.0 10.0 0.0 18+ 18-24 25-34 35-44 45-54 55+ Total Digital Population Males Females 6 Source: Comscore MMX Multi-Platform, July 2019, UK Adults 18+ Multi-Platform usage: Apparel Category v Internet Total Apparel Retail Category has LOW Multi-Platform usage Unique Visitor % Split by Platform – July 2019 Retail - Apparel 18+ 16% 73% 11% Total Internet 18+ 5% 35% 60% Total Retail 18+ 7% 47% 46% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Desktop-Only UV Mobile-Only UV Multi-Platform UV 7 Source: Comscore MMX Multi-Platform, July 2019, UK Adults 18+ Share of Time by Platform and Access: Apparel Category v Internet Total Mobile Browser share is High for Apparel Retail Category Online Minutes % Split by Platform – July 2019 Retail - Apparel 18+ 33% 38% 29% Total Internet 18+ 22% 11% 67% Total Retail 18+ 28% 15% 57% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Desktop Mobile Web Mobile App 8 Source: Comscore MMX Multi-Platform, July 2019, UK Adults 18+ Top Mobile Apps by Unique Visitors: Apparel Retail Category Apps within the category have low reach Total % Reach % Reach Unique Among Among Visitors Digital Mobile App (000) Population Users • Total Internet Mobile
    [Show full text]
  • Nordstrom and ASOS Announce Game-Changing Joint Venture
    Nordstrom and ASOS Announce Game-changing Joint Venture July 12, 2021 Nordstrom acquires a minority interest in Topshop and Topman brands SEATTLE, July 12, 2021 /PRNewswire/ -- Today, Nordstrom (NYSE: JWN) and ASOS announced that Nordstrom has acquired a minority interest in the Topshop, Topman, Miss Selfridge and HIIT brands. This investment will help drive the growth of these brands globally, setting the stage for Nordstrom and ASOS to sit alongside a new wider strategic partnership. This innovative partnership will involve unprecedented collaboration and alignment, redefining the traditional retail/wholesale model. Whilst ASOS will retain operational and creative control of the Topshop brands, a shared ownership model will ensure close collaboration between the U.S. retailer and ASOS, driving a stronger future for the iconic Topshop brands worldwide. Nordstrom is a leading multichannel retailer, with unmatched physical and digital reach in North America, operating two powerful brands with over 350 physical stores and sites that attract almost 2 billion annual visits. The retailer has been the exclusive distributer of Topshop and Topman in the U.S. since 2012 when they became the first to bring the brand to the U.S. market. Nordstrom will now have the exclusive multi-channel retail rights for Topshop and Topman in all of North America, including Canada and own a minority stake globally. The retailer will also become the only brick and mortar presence for these brands worldwide. "With its long-established connection to Topshop, extensive U.S. consumer insight and unparalleled reach right across North America, Nordstrom is the right partner to help ASOS accelerate the growth of our Topshop and ASOS brands in this key market," said Nick Beighton, Chief Executive Officer at ASOS.
    [Show full text]
  • Building a Truly Global Retail Leader
    STRATEGIC REPORT STRATEGIC ASOS PLC Annual Report and Accounts 2019 Building A Truly Global Retail Leader For fashion loving 20-somethings STRATEGIC REPORT STRATEGIC Financial highlights Authentic, Brave Revenue Gross profit Profit after tax £2,733.5m £1,334.3m £24.6m and Creative 2018: £2,417.3m 2018: £1,237.1m 2018: £82.4m 2017: £1,923.6m 2017: £958.3m 2017: £64.1m Our 2018/19 story Operating profit Diluted EPS Net assets Back in 2000, people said online fashion wouldn’t work. We proved them wrong. £35.1m 29.4p £453.6m 2018: £101.9m 2018: 98.0p 2018: £438.8m Almost 20 years on, we’re still pushing the 2017: £79.6m 2017: 76.6p 2017: £287.1m boundaries for the world’s fashion loving 20-somethings, helping more and more people look, feel and be their best. This Non-financial highlights report introduces a more agile ASOS, a truly 20.3m 85,000+ global retailer with our eyes set firmly on active customers products on website becoming the number one online fashion destination for 20-somethings globally. c.950 20,000 third-party brands young people supported by the ASOS Foundation What’s inside? Strategic report Governance report Financial statements 1 Performance highlights 38 Board of Directors 74 Independent Auditors’ Report to the Members 2 ASOS: The future of fashion, today 40 Corporate Governance Report of ASOS Plc 4 Welcome from our new Chair 46 Audit Committee Report 79 Consolidated Statement of Total Comprehensive Income 5 CEO’s Operational review 49 Nomination Committee Report 80 Consolidated Statement of Changes in Equity 9 CFO’s
    [Show full text]
  • The 2019 Ethical Fashion Report the TRUTH BEHIND the BARCODE the 2019 ETHICAL FASHION REPORT the TRUTH BEHIND the BARCODE
    The 2019 Ethical Fashion Report THE TRUTH BEHIND THE BARCODE THE 2019 ETHICAL FASHION REPORT THE TRUTH BEHIND THE BARCODE Date: April 2019 Project Leads: Libby Sanders, Jasmin Mawson, Claire Hart Lead Researchers: Jessica Tatzenko, Annie Hollister-Jones Researcher Support: Meredith Ryland, Luke Medic, Emily Taylor Behind the Barcode is a project of Baptist World Aid Australia. New Zealand headquartered companies researched in partnership with Tearfund New Zealand. tearfund.org.nz/ethicalfashion Report Design: Susanne Geppert Front cover photo: © Baptist World Aid Australia World © Baptist photo: cover Front Infographics (pp 10–11): Cadence Media 2 CONTENTS 1. Executive Summary .......................................4 2. Methodology ............................................... 13 3. Industry Influences ...................................... 18 4. Policies ........................................................26 5. Traceability and Transparency ....................29 6. Auditing and Supplier Relationships ...........34 Appendices 7. Worker Empowerment ................................38 Statements from non-responsive brands 91 Letter from auditor 95 8. Environmental Management ....................... 41 Sources 96 ................................................. 9. Brand Index 46 About Baptist World Aid Australia 97 10. Survey Data .................................................65 Acknowledgments 98 3 Executive Summary This section outlines the research aims and scope; data collection and findings; 1and overall results of all companies.
    [Show full text]
  • Annual Report 2021
    BOOHOO GROUP PLC GROUP BOOHOO ANNUAL BOOHOO REPORT GROUP & ACCOUNTS PLC stock code: BOO 2021 ANNUAL REPORT AND ACCOUNTS 2021 REPORT AND ACCOUNTS ANNUAL BOOHOO GROUP PLC 12 CASTLE STREET ST HELIER JERSEY JE2 3RT UK / STRATEGIC REPORT STRATEGIC / BOOHOO GROUP PLC ANNUAL REPORT AND ACCOUNTS 2021 AGENDA FOR BUSINESS BOOHOO GROUP PLC CHANGE MODEL A LEADING E-COMMERCE 20 16 RETAIL GROUP BOARD OF CHAIRMAN’S DIRECTORS STATEMENT Our multi-brand platform comprises boohoo, boohooMAN, PrettyLittleThing, Nasty Gal, MissPap, Karen Millen, Coast, Oasis, Warehouse, Debenhams, Dorothy Perkins, Wallis and 50 18 Burton, and targets fashion- conscious 16 to 45 year-olds STRATEGIC REPORT in the UK and internationally. Group financial and operational highlights 6 Our vision 8 Our values 9 About our group and our global brands 10 Our business model 16 Chairman's statement 18 Agenda for Change 20 COVID-19 response 24 Review of the business 26 Financial review 31 Risk management 34 Environmental, social and governance report 39 GOVERNANCE Board of directors 50 Corporate governance report 52 Directors' report 60 Directors' remuneration report 66 CONTENTS Statement of directors' responsibilities in respect of the annual report and financial statements 85 FINANCIAL STATEMENTS Independent auditor's report to the members of boohoo group plc 86 Consolidated statement of comprehensive income 90 Consolidated statement of financial position 91 Consolidated statement of changes in equity 92 Consolidated cash flow statement 93 Notes to the financial statements 94 Five-year financial summary 119 VISIT US ONLINE AT BOOHOOPLC.COM 01 / STRATEGIC REPORT STRATEGIC / BOOHOO GROUP PLC ANNUAL REPORT AND ACCOUNTS 2021 GROWTH FOR WHILE GROWING A SUSTAINABLE OUR BRANDS At the beginning of our financial year, we had seven brands.
    [Show full text]
  • The Fashion of Oz MILA KUNIS IS
    the fashion of oz MILA KUNIS IS Costume designers Gary Jones and Michael Kutsche designed, created and assembled nearly 2,000 costumes THEODORA for Disney’s Oz The Great and Powerful and now many of the looks they created for the film have worked their way onto the high street. Evanora’s military meets art deco designs, Theodora’s rich claret Victorian inspired outfits and Glinda’s demure and opulent dresses have inspired high street designs across the land. Pantone’s emerald green has been named as 2013’s colour of the year and fantasy is now a major fashion trend this season. So forget Paris, London and Milan, the iconic Emerald City is the place of 2013. Oz The Great and Powerful starring James Franco, Mila Kunis, Michelle Williams and Rachel Weisz will be in cinemas from 8th March 2013. OZ THE GREAT & POWERFUL:POWERFUL THETHE FAFASHIONSHION OFOF OZOZ © Disney H&M TOPSHOP 01 02 06 07 08 09 10 11 12 MILA KUNIS IS 13 THEODORA 14 NEW LOOK 15 16 03 04 ASOS 17 18 19 20 urban decay 21 22 05 H&M new look urban TOPSHOP ASOS 01 03 06 09 13 15 17 20 Red Blazer Dark pink rectangle decay Independent Collar Open Waist Dress Gel Liner Ink Black Moon Ankle Boots Red Dogtooth Blazer Black drop necklace BY H&M clutch w/gold trim & 05 Dress by Sister Jane by Sister Jane by topshop by topshop by CJG by topshop £35.00 £50.00 flower cut out on flap Urban Decay Oz range by TOPshop £48.00 £8.00 £150.00 21 £12.99 available at Debenhams £48.00 18 Red Hat 02 10 14 16 Crafted PU Leggings Black Leather Skirt 04 07 Lip Crayon in Arcade EDWARD Velvet Ostrich Zip Around £32.00 22 BY H&M Black Crinkle Leather Lace Pleat Dress by topshop Tassel Slippers Luggage Bag Fancy Winter Floppy Hat £83.00 Look Skater Skirt by Love £7.00 by topshop £45.00 19 £26.00 £19.99 by topshop £10.00 White oversized blouse £38.00 11 Lips in Beguilded 08 by topshop Lily Dress £8.00 by Jones and Jones by topshop 12 £65.00 Magic Liner by topshop £6.50 GET THE LOOK OZ THE GREAT & POWERFUL: THE FASHION OF OZ © Disney H&M TOPSHOP urban decay 01 02 03 04 08 Michelle williams IS 05 06 07 GLINDA O.P.I.
    [Show full text]
  • Trading Statement for the Four Months Ended 30 June 2021
    15 July 2021 ASOS plc (“the Company”) Trading Statement for the four months ended 30 June 2021 ASOS delivers another strong trading performance against backdrop of increased volatility ASOS today announces trading for the four months to 30 June 2021 (“P3”). Revenue growth in the period was strong, against a backdrop of continued restrictions on consumers, volatile demand and increased global supply chain pressures. This performance reflects continued progress against our strategic priorities and strong growth in our customer base. Trading in the last three weeks of the period was more muted, as continued COVID uncertainty and inclement weather, particularly in the UK, impacted market demand. We anticipate a measure of volatility to continue in the near term, given the rapidly evolving COVID situation worldwide. As a result, we expect our underlying P4 growth rate to be broadly in line with the prior year comparable period. We expect overall full year adjusted PBT to be in line with our expectations. The global opportunity for ASOS to grow in our targeted markets is greater than ever. We are continuing to confidently invest across our unique ASOS Brands, our ASOS Platform and our ASOS Experience, powered by our ASOSers, technology and global warehousing capabilities. Four months to 30 June Four months to 30 June Reported Underlying (adjusted for prior year returns provision)3 CCY2 CCY2 £m1 2021 2020 Increase Increase 2021 2020 Increase Increase UK retail sales 526.4 329.2 60% 60% 526.4 387.4 36% 36% EU retail sales 388.3 328.0 18% 20% 388.3 340.5 14% 15% US retail sales 144.8 124.9 16% 31% 144.8 135.7 7% 20% ROW retail sales 182.6 201.2 (9%) (2%) 182.6 203.6 (10%) (3%) International retail 715.7 654.1 9% 15% 715.7 679.8 5% 11% sales Total retail sales 1,242.1 983.3 26% 30% 1,242.1 1,067.2 16% 20% Total group 1,286.4 1,014.2 27% 31% 1,286.4 1,098.1 17% 21% revenue4 1All numbers subject to rounding throughout this document.
    [Show full text]
  • ASOS Plc (ASC:LN)
    ASOS Plc (ASC:LN) Consumer Discretionary/Apparel Retailers Price: 3,002.00 GBX Report Date: September 30, 2021 Business Description and Key Statistics ASOS and its subsidiaries is a global fashion retailer. Co. sells Current YTY % Chg products across the world and has websites targeting the U.K., U.S., Australia, France, Germany, Spain, Italy, Sweden, the Revenue LFY (M) 3,264 19.4 Netherlands, Denmark, Poland and Russia. EPS Diluted LFY 1.26 329.6 Market Value (M) 2,988 Shares Outstanding LFY (000) 99,519 Book Value Per Share 8.14 EBITDA Margin % 8.20 Net Margin % 3.3 Website: www.asosplc.com Long-Term Debt / Capital % 0.0 ICB Industry: Consumer Discretionary Dividends and Yield TTM 0.00 - 0.00% ICB Subsector: Apparel Retailers Payout Ratio TTM % 0.0 Address: Greater London House;Hampstead Road London 60-Day Average Volume (000) 485 GBR 52-Week High & Low 5,918.00 - 3,002.00 Employees: 3,824 Price / 52-Week High & Low 0.51 - 1.00 Price, Moving Averages & Volume 6,063.8 6,063.8 ASOS Plc is currently trading at 3,002.00 which is 17.9% below its 50 day moving 5,662.8 5,662.8 average price of 3,655.52 and 36.4% below its 200 day 5,261.9 5,261.9 moving average price of 4,717.69. 4,860.9 4,860.9 ASC:LN is currently 49.3% below its 52-week high price of 5,918.00 and is trading at its 4,460.0 4,460.0 52-week low price of 3,002.00.
    [Show full text]
  • US Department Store Nordstrom Invests in ASOS Brands
    US department store Nordstrom invests in ASOS brands US retailer Nordstrom has bought a minority stake in four brands owned by online fashion giant ASOS, including Topshop and Miss Selfridge, as it seeks to win back younger customers who are increasingly shunning malls and shopping centres. ASOS, the London-based company, acquired the brands, which also include Topman and HIIT, out of bankruptcy this year from Sir Philip Green’s Arcadia Group for £330m. Now, the new deal will see ASOS stocking its brands in Nordstrom’s 350 shops across the US, while the retailer will allow ASOS shoppers to collect and send back products at its stores. Image: Nick Beighton is the chief executive of ASOS A statement from ASOS said that the venture would open the door to wider collaboration with Nordstrom, the first physical retailer that ASOS has partnered with. “With its long-established connection to Topshop, extensive US consumer insight and unparalleled reach right across North America, Nordstrom is the right partner to help ASOS accelerate the growth of our Topshop and ASOS brands in this key market,” said Nick Beighton, CEO of ASOS. Advertisement Mr Beighton said the deal would offer ASOS the chance to reach “even more 20-somethings in North America”, a sentiment echoed by a senior Nordstrom executive. “We could not have found a better partner in ASOS, the world leader in fashion for the 20-something customer,” said Pete Nordstrom, president of Nordstrom. More from Business Rothermere family plots £810m bid to take Daily Mail publisher private Sir Richard Branson’s space tourism flight is a landmark moment – but out of reach for most people Uber picks former Tesco exec to run European delivery arm COVID-19: Pfizer’s UK boss ‘comfortable’ with plan to lift coronavirus rules – but will continue to wear a face mask in crowded settings Former BP chief Hayward plots float of energy transition SPAC Euro 2020 final – England v Italy: Co-op, Lidl, and Tesco Express adjust opening times to allow workers to enjoy big game The financial details of the deal were not made public.
    [Show full text]