The online fashion retailer ASOS has reported a growth of 26 per cent sales growth and 20 per cent profit growth over the last year. The company has been investing heavily in its fulfilment operations globally.
“This has been another year of substantial progress for ASOS. We delivered 26% sales growth and 28% profit growth whilst investing heavily in the long term potential of the business. Our reported profit increase was achieved despite bearing material transition costs due to our investment programme. All our financial and customer key metrics have shown positive growth. Our guidance remains unchanged both for the current year and the medium term, despite our record levels of investment. ASOS is moving fast and is as differentiated as ever. The potential for our business is huge and we remain focussed on building ASOS into the world’s number one destination for fashion loving twentysomethings”, Nick Beighton, CEO at ASOS said.
Regarding its logistics operation, Nick Beighton said: “From a global supply chain perspective, good progress was made with the technology to enhance our global supply chain including: facilitating the opening of the new US fulfilment centre, improvements in our carrier management options and improvement in the software we use to manage our customer contacts. 7 Within warehousing, the Euro hub phase two extension is progressing to plan. Within the year, handover of the site was completed along with delivery and commencement of installation for the automated storage system. This automated storage system is now over 95% complete with testing and commissioning well underway. Good progress is also being made on the new warehouse management system which will be installed this year.”