Welcome to our dedicated page for Myt Netherlands Parent B V news (Ticker: MYTE), a resource for investors and traders seeking the latest updates and insights on Myt Netherlands Parent B V stock.
The MYT Netherlands Parent B.V. (MYTE) news page on Stock Titan aggregates company announcements and market updates related to Mytheresa and its transition to LuxExperience B.V. Mytheresa is described in its releases as a luxury multi-brand digital platform shipping to over 130 countries, with a curated selection of ready-to-wear, shoes, bags, accessories, lifestyle products and fine jewelry from up to 250 luxury brands.
News for MYTE commonly covers topics such as quarterly and annual financial results, Gross Merchandise Value (GMV) trends, adjusted EBITDA performance and details of earnings calls and investor conference participation. Press releases also highlight business developments, including exclusive capsule collections with luxury brands, expansion of fine jewelry offerings and customer-focused initiatives for high-spending top customers.
In recent periods, a major focus of MYTE-related news has been the acquisition of YOOX NET-A-PORTER Group S.p.A. from Richemont and the subsequent renaming of MYT Netherlands Parent B.V. to LuxExperience B.V. Updates include regulatory clearances, transaction closing, changes to the group’s senior leadership team and the planned change of the NYSE ticker symbol from MYTE to LUXE. Releases explain how the combined group will bring together store brands such as Mytheresa, NET-A-PORTER, MR PORTER, YOOX and THE OUTNET under one umbrella.
By following the MYTE news feed, readers can review historical communications about Mytheresa’s financial performance, strategic transactions, group structure changes and the evolution toward the LuxExperience B.V. identity and LUXE ticker. This context helps investors and observers understand how the business and its digital luxury platform have developed over time.
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MYT Netherlands Parent B.V. (NYSE: MYTE), the parent company of Mytheresa, has reported its preliminary unaudited financial results for Q3 2023, ending March 31, 2023. The company indicated that macroeconomic challenges have negatively impacted consumer sentiment, affecting financial performance. Gross Merchandise Value (GMV) is expected to be between €218-221 million, with net sales projected between €196-199 million. Gross profit is anticipated to be between €89-92 million, and adjusted EBITDA is estimated in the range of €2-4 million. The updated full-year outlook has GMV growth projected at 13%-15%, net sales growth at 9%-11%, and gross profit growth at 7%-9%. The company remains optimistic about achieving profitable growth despite ongoing challenges.
Mytheresa reported a 7.8% growth in Gross Merchandise Value (GMV), reaching €215.9 million in Q2 FY23, up from €200.2 million the previous year. The company achieved a 1.3% year-over-year increase in net sales, totaling €190.1 million. With a Gross Profit margin of 54.8% (up 140 basis points), Mytheresa demonstrated strong profitability, showing an Adjusted EBITDA of €17.7 million. The company confirmed its FY23 guidance, projecting GMV growth of 16% to 22% and an Adjusted EBITDA margin of 9% to 9.5%. CEO Michael Kliger highlighted resilience and a focus on high-end customers amidst economic challenges.
MYT Netherlands Parent B.V. (NYSE:MYTE), the parent company of Mytheresa, announced its second quarter fiscal year 2023 financial results will be released on February 23, 2023, before the U.S. market opens. A conference call to discuss the results will follow at 8:00 am ET on the same day. The company will also be participating in several upcoming investor conferences, including the Bank of America 2023 Consumer & Retail Conference on March 14 and the Jefferies Pan-European Mid-Cap Conference on March 28, 2023. Mytheresa has reported a gross merchandise value (GMV) of €747.3 million for fiscal year 2022, marking a 21.3% increase compared to FY21.
MYT Netherlands Parent B.V. (NYSE: MYTE) reported a strong Q1 FY23, achieving a 20.8% year-over-year growth in Gross Merchandise Value (GMV) to €197.9 million. The company's Gross Profit margin increased to 49.9%, while the Adjusted EBITDA margin stood at 6.6%. The full-year guidance indicates GMV growth of 16% to 22% and a stable Adjusted EBITDA margin of 9.0% to 9.5%. MYTE sees accelerated growth, particularly in the U.S. (+28.5%) and strong customer acquisition, with over 800,000 active customers.