Luxury Fashion Retailer Sees Double-Digit Growth Across Geographies

  • Mytheresa reports a 11.4% increase in net sales to €768.6m (£659m) for FY23
  • Gross Merchandise Value (GMV) grew by 14.5% to €855.8m (£733.7m)
  • Q4 net sales increased by 16.5% to €203.8m (£174.7m) and adjusted EBITDA of €7.4m (£6.3m)
  • Mytheresa expects GMV and net sales growth of 8-13% in FY24 with an adjusted EBITDA margin of 3-5%
  • US market growth driven by a 40.8% GMV increase and +10% active customers
  • First Mytheresa pop-up store in East Hampton attracted 3,200 guests in five weeks

German luxury fashion retailer Mytheresa has reported a net sales year-on-year increase of 11.4% to €768.6m (£659m) for the period ended in June 2023. The company’s Gross Merchandise Value (GMV) grew by 14.5% to €855.8m (£733.7m), compared to €747.3m (£640.7m) in 2022. In Q4 FY23, Mytheresa saw a net sales increase of 16.5% year-over-year to €203.8m (£174.7m) and an adjusted EBITDA of €7.4m (£6.3m), representing an adjusted EBITDA margin of 3.6%. The company expects GMV and net sales growth in the range of 8-13% for FY24 with an adjusted EBITDA margin of 3-5%. Mytheresa attributes its strong performance to extraordinary GMV growth of 40.8% in the US market and a 10% increase in active customers, which was further reinforced by the opening of the first-ever Mytheresa pop-up store in East Hampton that attracted 3,200 guests over five weeks. CEO Michael Kliger credits the focus on big spending, wardrobe-building top customers for their success.

Factuality Level: 10
Factuality Justification: The article provides accurate and objective information about Mytheresa’s financial performance, including specific numbers and growth rates for net sales, GMV, EBITDA, and customer growth. It also includes a quote from the CEO that supports the company’s success. The information is relevant to the topic and not sensationalized or misleading.
Noise Level: 1
Noise Justification: The article provides relevant and accurate information about the financial performance of Mytheresa, including specific numbers and growth rates for net sales, GMV, and EBITDA margins. It also includes a quote from the CEO explaining the company’s success factors. However, it lacks any analysis or context beyond simply reporting the results.
Financial Relevance: Yes
Financial Markets Impacted: The financial performance of Mytheresa, a luxury fashion retailer, impacts the company’s stock and related fashion industry stocks.
Financial Rating Justification: This article discusses the financial results and growth of Mytheresa, a luxury fashion retailer, which can impact the stock prices of the company and other fashion industry stocks.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no extreme event mentioned in the article, but it discusses positive financial performance of a luxury fashion retailer.

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