ASOS PLC (FRA:DYQ)

€ 5.03 0.034 (0.68%) Market Cap: 637.37 Mil Enterprise Value: 1.34 Bil PE Ratio: 0 PB Ratio: 0.99 GF Score: 65/100

Full Year 2020 ASOS PLC Earnings Call Transcript

Oct 14, 2020 / 07:30AM GMT

Release Date Price: €54.52 (-4.52%)

Transcript

Nicholas Beighton

ASOS Plc - CEO, Member of Executive Board & Director

Good morning, everybody, and thank you for joining our webcast to cover the FY '20 performance. We've got a quite full presentation today to take you through. We're going to give you some extra insight into the impacts we have seen through COVID and also setting out some more detail of our strategy for the next stage of our growth. Once we've run through the presentation, Matt and I, of course, will be happy to take any questions.

So let's get started. I'll start with a summary of our results for the year just ended. Clearly, it was a year of 2 distinct periods. We started the year knowing it was going to be a pivotal year for ASOS, as we work to regain our momentum and focus as we address the issues from the previous year.

What we didn't know at the time that this may also prove to be a pivotal year for the sector. If you look at the 2020 penetration of online sales in the U.K. and globally as a proportion of total clothing sales, we've probably seen 10 years of digital disruption to our bricks-and-mortar peers

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