The fashion retailer Mytheresa remains on course for growth. In the first quarter of the 2022/23 financial year, the e-commerce specialist based in Aschheim near Munich was able to achieve a significant increase in sales and reduce its loss. This emerges from an interim report published on Tuesday by the listed parent company MYT Netherlands Parent BV.
In the months of July to September, net sales amounted to EUR 175.9 million, which corresponds to an increase of 11.4 percent compared to the same quarter of the previous year. The gross goods value (GMV) even grew by 20.8 percent to 197.9 million euros. The company achieved an above-average improvement in the USA (+28.5 percent).
Despite higher costs, Mytheresa was able to reduce the reported net loss by 47.8 percent to 3.8 million euros. In the previous year, however, the company had to post higher one-off charges as part of the IPO, which was completed in 2021. Adjusted for special effects, the quarterly surplus fell by 26.1 percent to 6.1 million euros.
The forecasts for the entire 2022/23 financial year remained unchanged. The management therefore continues to expect an increase in sales of 10 to 16 percent to 755 to 800 million euros and an increase in GMV by 16 to 22 percent to 865 to 910 million euros. The forecast range for earnings before interest, taxes, depreciation and amortization (EBITDA) adjusted for special effects is still between 68 and 76 million euros.