Welcome to our dedicated page for MYT Netherlands Parent B.V. American Depositary Shares, each representing one Ordinary Share news (Ticker: MYTE), a resource for investors and traders seeking the latest updates and insights on MYT Netherlands Parent B.V. American Depositary Shares, each representing one Ordinary Share stock.
MYT Netherlands Parent B.V., trading under the symbol MYTE, is a premier luxury e-commerce platform, known globally for its high-end fashion offerings. The company operates Mytheresa.com, a leading online retailer in Europe, launched in 2006. Mytheresa.com features a curated selection of over 200 international designer brands, including Balenciaga, Saint Laurent, and Valentino. Their extensive product range includes clothing, shoes, bags, and accessories.
The company’s headquarters are in Munich, housing an international team of over 400 talented individuals from more than 50 nations. The company prides itself on offering an exceptional shopping experience to customers in over 120 countries. This includes unique services and innovative digital content for editorial, public relations, and branding activities.
The core mission of MYT Netherlands Parent B.V. is to provide a boutique-like shopping experience in the digital luxury fashion domain, evoking love and passion through a meticulous product selection and memorable service. They continuously work on developing best practices in IT, human resources, operations, online marketing, and web design to maintain their leading position in the market.
Latest News:
- MYT Netherlands Parent B.V. recently announced a new partnership with a major luxury brand to expand its product offerings.
- The company reported a significant increase in quarterly revenue, attributing the growth to a surge in online shopping.
- Mytheresa.com launched an exclusive collection in collaboration with a top designer, receiving widespread acclaim.
MYT Netherlands Parent B.V. continues to thrive in the luxury e-commerce space, making significant strides in market presence and customer satisfaction.
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.
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