Earnings release
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15 July 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 . £ m¹ UK retail sales ASOS plc ( " the Company " ) Trading Statement for the four months ended 30 June 2021 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 . EU retail sales US retail sales ROW retail sales International retail sales Total retail sales Total group revenue4 2021 526.4 388.3 144.8 182.6 715.7 1,242.1 Four months to 30 June Reported asos CCY² 2020 Increase Increase 329.2 328.0 124.9 201.2 654.1 983.3 60 % 18 % 16 % ( 9 % ) 9 % 26 % 1,014.2 27 % 1,286.4 ¹All numbers subject to rounding throughout this document . Any reference to total or retail sales throughout the document is on a constant currency basis 2Constant currency is calculated to take account of hedged rate movements on hedged sales and spot rate movements on unhedged sales 3 Adjusted comparatives to reflect the underlying sales performance for prior year returns provision phasing ¹Includes retail sales , delivery receipts , wholesale revenue and third - party revenues 31 % Four months to 30 June Underlying ( adjusted for prior year returns provision ) ³ 2021 2020 Increase 60 % 526.4 387.4 20 % 388.3 340.5 31 % 144.8 135.7 ( 2 % ) 182.6 203.6 15 % 715.7 679.8 30 % 1,242.1 1,067.2 1,286.4 1,098.1 36 % 14 % 7 % ( 10 % ) 5 % 16 % 17 % CCY² Increase P3 Results Summary Results are quoted on an underlying constant currency basis with comparatives adjusted for the prior year returns provision phasing • Group Sales up 21 % supported by strong growth in the UK and an acceleration in demand in the US Active customer base increased by 1.2m to 26.1m since HY21 ● Gross margin -150bps reflecting FX headwinds , elevated freight costs due to global supply chain disruption and continued ' lockdown ' category product mix Product mix , and associated returns rates , have started to reflect a shift back into occasion wear in recent weeks Good flexibility displayed through the reshaping of product offer to meet unpredictable demand Global supply chain pressures continue , driven by global freight capacity shortages and delivery delays coming out of key areas of supply New strategic partnership announced with US - based multi - channel retailer Nordstrom to drive growth in North America ; joint - venture through which Nordstrom will acquire a minority interest in the Topshop , 36 % 15 % 20 % ( 3 % ) 11 % 20 % 21 %