ASOS has traded well in the 4 month period ended June with Retail sales growth of 20% (as expected) accompanied by a healthy recovery of 280bps in the gross margin against last year’s soft comps. Combined Retail GP for the year therefore looks to be running ahead of expectations by c£10m. This has been reinvested back into the business. Although this may limit any forecast upgrades to low-enders the newfound momentum in the business is well received and we have reviewed our target price to 3620p ....
07 Jul 2015
Margin performance allows for some reinvestment in H2
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Margin performance allows for some reinvestment in H2
ASOS plc (ASC:LON) | 382 0 0.0% | Mkt Cap: 456.4m
- Published:
07 Jul 2015 -
Author:
Matthew McEachran -
Pages:
3
ASOS has traded well in the 4 month period ended June with Retail sales growth of 20% (as expected) accompanied by a healthy recovery of 280bps in the gross margin against last year’s soft comps. Combined Retail GP for the year therefore looks to be running ahead of expectations by c£10m. This has been reinvested back into the business. Although this may limit any forecast upgrades to low-enders the newfound momentum in the business is well received and we have reviewed our target price to 3620p ....