You could call Asos's current performance a tale of two geographies. In the online retailer's native U.K., it experienced a 24 percent sales boost in the three months leading up to November 30. (Win!) And then there was everywhere else in the world, which collectively declined 2 percent. (Womp.)
Taken together, retail sales for the company rose 8 percent to £246 million.
The cause for the slight drop in international spending? A strong pound, which means the British company's goods are more expensive in countries that use a different currency.
Fortunately, the retailer is working on a solution: To take some of the pressure off its customers abroad, Asos is using the £6.3 million it received in insurance proceeds following a June fire at its Barnsley warehouse to help lower international pricing.
But back to the good news: CEO Nick Robertson noted on the company's first quarter earnings call on Tuesday that Asos had a very merry Cyber Weekend in the UK, with sales hitting record levels — around seven orders per second. In the quarter, average order frequency rose 7 percent, as did basket size; average basket value grew 6 percent.
Asos's take on fast fashion clearly appeals to consumers' taste in a big way. With any luck, its international channels will bounce back soon.