Groupon says its focus is on the bottom line, rather than top-line growth.
The web-only fashion and beauty products retailer’s total sales increased by 52%.
Asos plc, a web-only fashion, accessories and beauty products retailer, turned in a sterling 2011.
For the year ended March 31, Asos reported:
- Total web sales of 324.1 million pounds ($526.4 million), up by 58% from 205.5 million pounds ($333.8 million) in fiscal 2010.
- U.K. web sales of 184.1 million pounds ($299.0 million), a 25% increase from 147.5 million pounds ($239.6 million).
- International online sales of 140.0 million pounds ($227.4 million), up by 142% from 57.9 million pounds ($94.1 million). Global sales accounted for 43% of total retail sales.
- Total revenue, including shipping and handling and advertising sales on its web site and in a branded magazine, of 339.7 million pounds ($551.8 million), up by 52% from 223.0 million pounds ($362.3 million).
- Net income was 10.8 million pounds ($17.5 million) compared with 14.6 million ($23.7 million) pounds in the prior year.
“Our international expansion program remains firmly on track,” says Nick Robertson, CEO of Asos, No. 42 in the Internet Retailer Top 300 Europe. “During the year we launched country specific sites in the U.S., France and Germany and we plan to launch three further country-specific sites in the coming financial year.”
London-based Asos also rolled out a mobile commerce site and a Facebook store in fiscal 2011 and is transitioning to a new 530,000-square-foot warehouse in Barnsley, England, that is expected to be fully operational this month.