Mytheresa takes more cautious view of full year in light of trade conflicts
Luxury online retailer Mytheresa is taking a more cautious view of the current financial year, despite 'solid growth' in the third quarter.
Mytheresa's revenues increased by 3.8 percent to 242.5 million euros compared to the same period last year. Gross merchandise volume also grew by 3.8 percent to 261.3 million euros.
'The results for the third quarter once again demonstrate the strength of the Mytheresa business model,' said chief executive officer Michael Kliger in a statement from the owner-holding company LuxExperience BV on Wednesday. More caution in revenue forecast
Even though the luxury retailer emphasises its 'solid growth' in the three months to March 31, it cannot avoid taking a more cautious view of its revenue forecast for the financial year. Revenue growth has slowed compared to previous quarters.
In view of the 'uncertainties regarding tariffs' and their impact on customer sentiment, Mytheresa expects revenue and gross merchandise volume growth to be at the lower end of the forecast of 7 to 13 percent for the full financial year, which ends on June 30, 2025. Profitability in focus
The Munich-based company is maintaining its forecast for the adjusted EBITDA margin in the range of 3 to 5 percent. This was 3.9 percent in the third quarter, after adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) rose by 5.5 percent to 9.3 million euros.
Ultimately, Mytheresa's losses widened slightly. In the third quarter, they amounted to 5.5 million euros, compared to 3.3 million euros in the same period last year. Nevertheless, the company is satisfied in view of a difficult market.
'Solid GMV growth, higher spending by top customers, continued expansion of product margins and strong profitability demonstrate the health and resilience of the Mytheresa business despite macroeconomic headwinds,' Kliger summarised. Takeover effect
From the coming fourth quarter, Mythersa owner LuxExperience is expected to report additional net sales of 300 to 350 million euros following the acquisition of Yoox Net-a-Porter (YNAP). The new units are also expected to lead to an adjusted EBITDA loss of 20 to 30 million euros for the standalone Mytheresa business in the current financial year, which ends on June 30, 2025. This article was translated to English using an AI tool.
FashionUnited uses AI language tools to speed up translating (news) articles and proofread the translations to improve the end result. This saves our human journalists time they can spend doing research and writing original articles. Articles translated with the help of AI are checked and edited by a human desk editor prior to going online. If you have questions or comments about this process email us at info@fashionunited.com
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