New ASOS.com Chief Exec Leads from the Helm

The clothing sector of the retail market has not made for positive reading of late with many leading brands blaming poor sales on the unseasonably wet summer. However, the latest end of year figures from online retail giant ASOS.com has displayed resilience and a healthy profit return despite the turbulent market.

The latest figures show that ASOS.com have almost reached that magical £1bn worth of sales and whilst profits are down 14% to £46.9m the etailer still demonstrates an encouraging profit return that few retailers would struggle to match. The company, like most, prior to the spring of this year had faced a difficult 18 months but through considered decision making and planning have managed to quickly turn things around; giving a real confidence booster for the market.

Nick Robertson left and Nick Beighton right 

Nick Beighton, as expected, is very much is leading from the helm as the new Chief Executive of the online fashion retailer after Nick Robertson decided to stand down after 15 years. Nick Robertson founded ASOS.com in 2000 at the height of the dot.com boom, hewill remain on the board as a non-executive director.

Brian McBride, chairman at ASOS.com, said: “On behalf of everyone who works at ASOS.com, I’d like to acknowledge Nick Robertson’s extraordinary achievement. His passion and vision have built a start-up into a world-class company. We are all delighted that Nick will continue to contribute to the company that he started.”

ASOS.com attracted 98 million visits during June 2015, compared to 71 million during June 2014. On 30 June 2015 the website had 9.7 million active customers, which is 1 million higher than 30 June 2014. 

The increase in visitor figures reflects an overall strong sales period for the online retailer. Retail sales for the four months leading to 30 June 2015 grew by 20 per cent, while UK growth remained strong at 27 per cent.

Jenny Holloway, CEO Fashion Enter, commented: “Without ASOS.com we would not be here today. I have such admiration and respect for both Nick Robertson and Nick Beighton. They have taken calculated risks and risen to challenges like no other company has and full credit to them both! To have retail sales up by 27% from 8.8m customers generating nearly £47m profit in this current market, these figures are such an achievement. Everyone at Fashion Enter really wishes ASOS.com continuing success into 2015; that magical £1bn sales target is just around the corner!”