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ASOS (LSE: ASC) 2Q19 Trading Update: Strong UK Demand, US Logistics Hit by Unexpected Jump in Demand, Guidance Unchanged

Executive Summary

  • ASOS reported 2Q19 group revenues of £658.5 million, up 11.0% year over year on a constant-currency basis (up 13% year over year as reported). US sales declined due to an unexpected surge in orders causing disruption.
  • The company’s retail gross margin expanded 40 basis points year over year.
  • The company maintained its previous guidance for FY19.

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