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Trading statement for the three months ended 31 May 2022

"At our half year results, we set out the actions we had taken as we faced into a more challenging backdrop, notably the work undertaken in the face of the global supply chain challenges which led to an improved stock profile and increased newness and availability. We saw the benefit of this come through in the shape of strong gross sales and a further acceleration of growth in the US. At the same time, we noted that the impact of inflationary pressures was yet to be felt by our customers.

What is now clear, based on the significant increase in returns rates that we have seen, is that this inflationary pressure is increasingly impacting our customers shopping behaviour. It is too early to tell for how long the current pattern of customer behaviour will continue but we are taking swift and decisive steps to minimise the impacts whilst continuing to deliver against the strategic initiatives we laid out in November that will ensure that ASOS builds for the long-term.”

Performance for the three months ended 31 May 2022

Revenue

£2,987.4m

(+1%1)

HY 2021: £2,963.8m

Gross margin

44.0%

(-310bps)

HY 2021: 47.1%

1 On a constant currency basis


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Latest reports & presentations

16/06/2022

Trading Statement for the three months ended 31 May 2022

12/04/2022

Interim results for the six months ended 28 February 2022

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