ASOS (LSE: ASC) 3Q19 Trading Update: Strong UK Demand but Operational Issues in the US and EU; Guidance Revised Down

Executive Summary

• ASOS reported 3Q19 group revenues of £919.8 million, up 11% year over year on a constant-currency basis (up 12% year over year as reported). Active customers hit the 20 million mark.
• UK retail sales growth strengthened in 3Q19, while EU saw sales growth soften. US sales increased after a decline in the previous quarter.
• The company revised down its sales and gross margin guidance for FY19.