×
74 293
Fashion Jobs
SACK OFF 5TH
Asset Protection Guard
Permanent · FARMINGTON HILLS
JCREW
Merchandise Planner
Permanent · New York
MACY'S
Asset Protection Detective, Pleasanton Stoneridge - Part Time
Permanent · Pleasanton
MACY'S
Asset Protection Officer, West Virginia - Full Time (2840)
Permanent · Martinsburg
MACY'S
Asset Protection Investigator, West Virginia - Part Time (2840)
Permanent · Martinsburg
MACY'S
Asset Protection Detective, Coronado Center - Part Time
Permanent · Albuquerque
MACY'S
Asset Protection Detective, Roosevelt - Part Time
Permanent · Philadelphia
MACY'S
Asset Protection Officer, West Virginia - Part Time (2840)
Permanent · Martinsburg
MACY'S
Manager, Merchandise Execution
Permanent · Aventura
MACY'S
Manager, Asset Protection
Permanent · Capitola
MACY'S
Manager, Merchandise Execution
Permanent · Boca Raton
UNDER ARMOUR
Stock Teammate, Part-Time 5am Shift, $15 Per Hour
Permanent · TANNERSVILLE
UNDER ARMOUR
Stock Lead, ft
Permanent · WOODSTOCK
URBN
Assistant General Manager (m&v)
Permanent · GLEN MILLS
URBN
Free People Senior Merchandise Planner
Permanent · PHILADELPHIA
L'OREAL GROUP
Analyst - Supply Chain
Permanent · Streetsboro
L'OREAL GROUP
Payroll, Senior Business Analyst (IT Liaison) – l’Oreal Corporate Payroll
Permanent · St. Petersburg
L'OREAL GROUP
Senior Manager- Human Resources, Luxe Supply Chain
Permanent · South Brunswick Township
PRANA
Director, Strategic Accounts & Sales Business Development
Permanent · CARLSBAD
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Part Time - Stanford
Permanent · PALO ALTO
ROSS
Store Protection Specialist
Permanent · Tampa
ROSS
Store Protection Specialist
Permanent · McAllen
By
Reuters
Published
Aug 9, 2017
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Online retailer Asos to open second U.S. distribution centre

By
Reuters
Published
Aug 9, 2017

British online fashion retailer Asos is spending $40 million on a second U.S. distribution center to support strong sales growth in what it hopes will become a major market.


A model walks on an in-house catwalk at the Asos headquarters in London - Reuters


Established in 2000, Asos is Britain's most valuable online fashion retailer, with a market capitalisation of 5 billion pounds ($6.5 billion), annual sales of 1.4 billion pounds and expanding operations in markets from Australia to Russia.

Chief Executive Nick Beighton said the new centre in Atlanta, Georgia, will open in autumn next year and enable the company to offer faster and more flexible delivery to its 20-something customers.

"This agreement is a major step forward for Asos in the U.S. and demonstrates the opportunity we believe lies ahead in this key market," he said on Tuesday.

At the moment, Asos dispatches about 25 percent of its U.S. sales from its center in Ohio with the balance coming from Britain, according to Liberum analyst Wayne Brown.

Asos sales in the United States in the year to the end of August 2016 were 179 million pounds, a fraction of its overall revenue and dwarfed by online market leader Amazon, which is also investing heavily in fashion.

Amazon's clothing and accessory sales are expected to grow nearly 30 percent this year to $28 billion, according to Cowen & Co forecasts quoted by Business Insider. Morgan Stanley has said it is second only to Walmart in the category.

The U.S. company recently launched Prime Wardrobe, a subscription-based service that allows customers to try items from brands such as Calvin Klein, Adidas and Levi's as well as Amazon's private labels.

Asos, however, is seen as being partly insulated from the Amazon threat by its focus on young fashion followers and higher sales of its own-label clothes, which helps it trade at a premium to European rival Zalando.

It said last month that its U.S. sales grew 26 percent in four months to the end of June as it increased its full-year growth forecast for overall sales to the upper end of a 30 percent to 35 percent range.

Liberum's Brown, who has a "buy" rating on the stock, said the new U.S. facility would support the company's aim of achieving total sales of 2.5 billion pounds, which he expected it to deliver in 2019.

Shares in Asos, which have risen 29 percent in the last 12 months, were trading down 0.2 percent at 5,990 pence at 0947 GMT.
 

© Thomson Reuters 2023 All rights reserved.