{"id":205680,"date":"2022-06-16T10:17:58","date_gmt":"2022-06-16T09:17:58","guid":{"rendered":"https:\/\/theindustry.beauty\/?p=205680"},"modified":"2022-06-27T12:49:30","modified_gmt":"2022-06-27T11:49:30","slug":"asos-reports-revenue-growth-but-increased-returns-rate-dampens-outlook","status":"publish","type":"post","link":"https:\/\/theindustry.beauty\/asos-reports-revenue-growth-but-increased-returns-rate-dampens-outlook\/","title":{"rendered":"ASOS reports revenue growth but increased returns rate dampens outlook"},"content":{"rendered":"<p><strong><span style=\"color: #008080;\"><a style=\"color: #008080;\" href=\"https:\/\/www.theindustry.fashion\/the_directory\/asos\/\" target=\"_blank\" rel=\"noopener\">ASOS<\/a><\/span> has <span style=\"font-size: 17.928px;\">revealed<\/span> revenue growth of 4% to \u00a3983.4 million for the three months ending 31 May 2022, compared to a previous growth rate of 47%, as \u201creturn rates in UK and Europe increased significantly\".<\/strong><\/p>\n<p><!--more--><\/p>\n<p>Today\u2019s trading statement outlined that \u201cshopping behaviours changed in line with the impact of increased inflationary pressures on discretionary spend\u201d.<\/p>\n<p>Trading guidance for the year has been updated to reflect uncertain consumer purchasing behaviour and the potential continuation of higher returns, with <strong>revenue growth expected to be between 4% to 7%<\/strong> and <strong>adjusted profit before tax now expected to be in the range of \u00a320 million to \u00a360 million<\/strong>.<\/p>\n<p>Mat Dunn, COO at ASOS, said: \u201cAt 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.<\/p>\n<p>\u201cWhat 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.\u201d<\/p>\n<p><span style=\"color: #008080;\"><a style=\"color: #008080;\" href=\"https:\/\/www.theindustry.fashion\/asos-appoints-jose-calamonte-as-ceo\/\" target=\"_blank\" rel=\"noopener\">ASOS has also announced the appointment of Jos\u00e9 Antonio Ramos Calamonte as its new CEO<\/a><\/span>, and J\u00f8rgen Lindemann as Chair.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u2026 <a href=\"https:\/\/theindustry.beauty\/asos-reports-revenue-growth-but-increased-returns-rate-dampens-outlook\/\">...<\/a><\/p>\n","protected":false},"author":39,"featured_media":180450,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"no","_lmt_disable":"","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[10585],"tags":[7329,11222,15852,22659],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - 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