• Asos reports strong sales momentum across holiday season

    7 days ago - By Fashion United

    For the four months to December 31, 2020 Asos Plc said, group sales were up 23 percent to 1,364.1 million pounds, supported by investment into capturing available demand and building customer momentum. Gross margin in the period was negative 90bps reflecting continued ‘lockdown' category product mix, investment into customer acquisition and increased freight costs due to Covid disruption. With restrictions likely to be in place for the balance of the first half, Asos expects a net Covid PBT benefit of at least 40 million pounds in H1 and FY21 PBT to be at the top end of current market...
    Read more ...

     

  • Sosandar sales improve by 6 percent

    7 days ago - By Fashion United

    Sosandar reported revenue of 3.98 million pounds for the three-month period ended 31 December 2020, up 6 percent year on year delivered with a 1.61 million pounds reduction in marketing spend. The company said in a statement that EBITDA loss reduced by 60 percent compared to the same period in the prior year. The company saw December revenue equal to revenue in September 2020, significantly better than anticipated given minimal marketing spend during the month and strong sales with John Lewis and Next, with December being the highest month to date reflecting continued expansion of the...
    Read more ...

     

  • Urban Outfitters announces disappointing holiday sales, group CEO departure

    7 days ago - By Fashion United

    Urban Outfitters, Inc. reported total company net sales for the two months ended December 31, 2020, decreased 8.4 percent over the same period last year, while comparable retail segment net sales decreased 9 percent due to negative retail store net sales. The company said in a statement that stronger conversion rates could not offset the reduced store traffic as a result of the coronavirus pandemic and related restrictions. Lower store net sales were partially offset by strong double-digit growth in digital channel sales. By brand, comparable retail segment net sales increased 1 percent at...
    Read more ...