UK ASOS growth slows, overall business in line with company expectations

In the latest sales figures released today, ASOS PLC noted that retail sales grew 38% to 335.7 million pounds in the first four months of fiscal year 2013-14 (2013 9-December), with a slowdown of 6-8 in the previous 2012-13 months (Four seasons in the 47% fiscal year). But above market expectations of 36%. Nick Robertson, chief executive of ASOS PLC, explained that the main reason for the slowdown was that the Australian dollar had fallen 11% per cent against the pound in the past 4 months, making the company expensive in Australia's major international markets 13-15%, weakening competitiveness and pressure on sales growth. Nick Robertson also said the overall business was still in line with the company's expectations, with the UK home being prominent.

Retail sales in the UK amounted to 134 million pounds, achieving 37% per cent year-on-year growth, but not as fast as the four quarter's 49%. International retail sales growth also fell from 47% in the four quarter to 38% in the past 4 months, with a sales of 202 million pounds, accounting for 60% of the company's total sales, which was unchanged from the same period in 2012. The biggest difference in U.S. business, the increase from 59% in the four quarter to 28%, sales of 3,225, 30,000 pounds, European sales 8,729, 50,000 pounds, rose 69% from the same period in 2012, the growth rate was slightly lower than in the quarter, while other global sales increased by 73% to 19% Year-on-year, 2.45 million pounds, compared with a four-quarter increase of 26%. Overall retail profit margin of the company rose 90 basis points year-on-year.

The news of the global slowdown in ASOS PLC's share price plunged more than 5% per cent on January 14, and 10:21 a.m, London time, at 6,399 pence, down 6.72%. "Some people are upset about the slowdown overseas," Nick Bubb, an independent retail analyst in London, said in a report. "ASOS PLC2013 's annual share price has risen 164% per cent, with a market capitalisation of £ 5.8 billion.

Nick Robertson says he agrees with analysts ' forecasts for a 30% increase in the company's Full-year pre-tax profit to £ 71 million. He said he would build a new distribution center in Central Europe later this year.

ASOS PLC11 launched the Chinese version of an E-commerce website earlier this month, analysts said the site is unlikely to have a real impact on the company's overall performance.

As of December 31, 2013, the number of ASOS plc active users reached 7.9 million, a 41% increase from the end of 2012.