The fashion retailer Mytheresa continues to struggle with the adverse economic conditions. On Thursday, the parent company MYT Netherlands Parent BV therefore lowered its forecasts for the 2022/23 financial year, which will last until the end of June.
The retailer acknowledged in a statement that the “macroeconomic headwinds” continue and weigh on consumer sentiment. “As the financial year progressed, there was still considerable uncertainty about the many challenges in the macroeconomic environment and their impact on the company.” puts pressure”.
Specifically, the company is now expecting an increase in the gross merchandise value (GMV) of 13 to 15 percent to between 845 and 860 million euros for the current financial year. Previously, 865 to 910 million euros had been targeted. The new forecast for net sales envisages growth of nine to eleven percent to EUR 750 to 765 million, after the company had previously aimed for an increase of ten to 16 percent to EUR 755 to 800 million. The target for earnings before interest, taxes, depreciation and amortization (EBITDA) adjusted for special effects was reduced from EUR 68 to 76 million to EUR 34 to 43 million.
The present, still preliminary results for the third quarter were taken into account. The company intends to present the final figures for the months of January to March on May 10th.