UK retailer ASOS expects 10-15% revenue growth in FY22

As outlined at the Capital Markets Day in November, ASOS remains focused on efforts to improve the flexibility and speed of the retail model and accelerate the pace of delivery of its international growth strategy. Next phase includes further organisational alignment against key priorities including the establishment of more dedicated teams in support of ASOS and partner brands, further rollout of geographical teams and the establishment of key operating units to drive Face + Body and Sportswear growth plans, ASOS said in a press release.

“ASOS has delivered a robust start to the year, in line with the guidance we set out at full-year results, despite challenging market conditions. This performance reflects the strength of our offer, excellent customer experience and the dedication and hard work of all ASOSers. We continued to make progress against our objectives to improve the flexibility and speed of our retail model and accelerate the pace of delivery of our international growth strategy. Looking ahead, while mindful of the near-term uncertainty relating to the pandemic, our guidance for the full year remains unchanged,” Mat Dunn, COO, said.

“We are also pleased to announce today that we plan to move to the main market of the London Stock Exchange. Our listing on AIM for the past 20 years has been an important part of ASOS’ development, but the time is now right to move to the Main Market as we focus on delivering our medium-term guidance and longer-term growth ambitions,” added Dunn.

Fibre2Fashion News Desk (RR)