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MYT Netherlands Parent BV (MYTE) operates a premier luxury e-commerce platform specializing in curated high-end fashion. This news hub provides investors and industry observers with essential updates about the company's strategic initiatives, financial developments, and market positioning.
Access timely press releases and analysis covering earnings reports, leadership changes, partnership announcements, and operational milestones. Our curated collection ensures you stay informed about MYTE's unique blend of digital innovation and boutique retail experiences in the competitive luxury sector.
Key updates include product expansion strategies, technological advancements in online retail, and insights into the evolving luxury fashion market. Bookmark this page for reliable information supporting informed decisions about this hybrid digital/physical retail innovator.
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.
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