ASOS Christmas sales dip amid challenging conditions

12th January 2023 | Jack Oliver

ASOS has seen its revenue drop after challenging economic conditions in the festive period.

In the four months ending December 31, the online fashion retailer saw a fall in revenue of 3%, with UK sales seeing a dip of 8% from 2021.

The group recorded a global revenue of £1.3m, down 6% from 2021.

ASOS said this fall in revenue was broadly in line with its expectations, but anticipates a stronger second half to the financial year.

The retailer cited weak consumer sentiment as a reason for the fall in UK sales. It said this was particularly significant in September, which the group said was a result of “national newsflow”, and December, which was affected by disruption in the delivery market.

ASOS said that a comparatively strong December 2021, which saw an Omicron COVID variant push online sales up.

José Antonio Ramos Calamonte, ASOS chief executive officer, said: “We are undertaking necessary strategic and operational changes, with our focus shifting from prioritising top-line growth to building a more relevant and competitive fashion business with a disciplined approach”.

“We have made good early progress against a number of measures to simplify the business, including re-positioning our inventory profile, reviewing our operational model in our top markets and reducing our cost base. While there is more to do, I am pleased by the progress made in this period and am confident in the direction we are going”, he added.


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