ASOS posted a low-single-digit rise in the value of products sold in the fourth quarter that ended on 30 August, after a 12 percent decline the previous year. The quarter also delivered the first quarter-on-quarter increase in active customers since 2022.
Across the full financial year, the retailer’s gross merchandise value fell 5 percent. It ended August with 16.4 million active customers, down from 17 million a year earlier.
While the latest quarter showed a modest gain, the overall base remains smaller than last year. This contrast highlights the challenge of regaining the scale that the business enjoyed before the downturn.
Growth was recorded in the United Kingdom and Germany during the second half of the year, and the United States saw an uptick in the final quarter. Womenswear outperformed the broader business, with its sales value climbing 8 percent in the second half.
The firm added about 30 partner brands over the year and expanded two fulfilment models: one where ASOS stores partner stock and handles delivery and returns, and another where the partner ships directly to customers. Those models now represent 21 percent of partner brand sales value, more than 10 percentage points higher than a year earlier.
Improved gross margin was aided by a higher share of full-price sales and a reduction in returns. A new tool now shows UK shoppers their personal return rate, aiming to curb return-related costs. The feature, embedded in the checkout experience, gives each shopper an estimate based on past behaviour.
Warehouse capacity has been trimmed after Marks & Spencer purchased a UK distribution centre earlier this year. The sale of that site, together with a US warehouse, lowered both operating costs and debt levels. These moves helped streamline the supply chain and reduce overhead.
The reported growth pertains to gross merchandise value, which includes activity from partner fulfilment models. It does not confirm that revenue has returned to growth, and the full-year results are expected on 5 November. Stakeholders will receive the detailed report on that date, providing a clearer picture of the company’s financial trajectory.
