ASOS (LON: ASC) reported this morning a jump in sales for the four months to December with a total growth of 30 percent and 28 percent at constant currency to £790 million.
The online retailer witnessed a strong performance during peak season, achieving an “exceptional performance” in the challenging UK market, with retail sales growing more than 23 percent. There was also a big push in international sales across Australia and Russia up, 32 percent.
ASOS new strategy during the Christmas shopping season was key to their success. The company introduced the “Try before you buy” purchase, were customers could try at home several items and just pay for the ones they kept. This move, along with same-day deliveries boosted the number of sales, registering 20.2 million orders placed, more than a 30 percent year on year.
“Velocity in our technology programmes continued, with a record number of releases. Our customer proposition was further enhanced in the U.K. with the launch of Try Before You Buy and ASOS Instant, our same day delivery proposition,” said CEOÂ Nick Beighton.
Furthermore, the online clothing store acquired 2.6 million active customers year on year and saw encouraging movements across all key customer KPIs, including a 19 percent increase in active users.
The fashion e-commerce company is valued at £5.8 billion, after investors enjoyed a 30 percent rise in its share price over the last year.
There was no change to outlook for the 2018 financial year, however, the company said they expect a full-year capital expenditure to be around the upper end of the previously range of £200 to £220 million.
“Following this strong start to the year, we remain confident in our full year guidance and delivery of our planned investments in infrastructure to support our global ambitions,” concluded ASOS CEO.
Shares were up 1 percent and are trading now at 6,946p as of 11:00 am (GMT).