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ASOS' (ASOMF) CEO Nick Beighton on Period 3 Trading Update - Earnings Call Transcript

Jul. 14, 2017 2:33 PM ETASOS Plc (ASOMF)
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ASOS plc (OTCPK:ASOMF) Period 3 Trading Update Conference Call July 13, 2017 4:30 AM ET


Nick Beighton - Chief Executive Officer, Executive Director

Helen Jane Ashton - Chief Financial Officer, Director


Andrea Ferraz - Morgan Stanley

Charlie Muir-Sands - Deutsche Bank

Anne Critchlow - SG Securities

Michelle Wilson - Berenberg

John Stevenson - Peel Hunt Ltd

Georgina Johanan - JP Morgan Cazenove

George Mensah - Shore Capital

Adam Cochrane - UBS

Richard Chamberlain - RBC Capital Markets

Simon Bowler - Exane

Andrew Porteous - HSBC Global Banking and Markets


Good morning ladies and gentlemen and thank you for standing by. Welcome to today's ASOS Period 3 trading update conference call. At this time, all participants are in a listen-only mode. There will be a presentation followed by a question-and-answer session. [Operator Instructions]. I must advise you that this conference is being recorded today, Thursday, July 13, 2017.

I would now like to hand the conference over to your speaker today, Mr. Nick Beighton, the CEO. Please go ahead.

Nick Beighton

Thank you, Carla. Good morning everybody. Thanks for joining our Period 3 update on our trading segment for the four months through June 30. On the call with me, as usual, is Helen and Greg. I am just going to take you through a couple of the key things for the last four months and then we will open up for Q&A.

So first of all, sales came in at just under £670 million for the period, which show continued strong sales growth showing great momentum. P1 was £36 million year on year growth, P2 was £42 million and P3 was £32 million. If you look at a two-year comparative, that's a slight acceleration. Overall, the group sales were up 32% supported by huge customer facing investment into both price and proposition, which is a really strong performance given the fact

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