Tue. 14 Sep 2021, 9:28am ETBenzinga
In: Earnings, News, Guidance
- MYT Netherlands Parent BV (NYSE:MYTE) or Mytheresa reported fourth-quarter FY21 sales growth of 36.1% year-on-year, to €162.4 million.
- Sales in the U.S. jumped 133.3% Y/Y due to an increase in consumer demand.
- Gross profit improved 40.1% to €77.4 million, and the gross margin for the quarter expanded 140 basis points Y/Y to 47.7%.
- The company reported an operating loss of €(6.2) million compared to a profit in Q4 FY20.
- Mytheresa held €76.8 million in cash and equivalents as of June 30, 2021.
- Adjusted net income declined 19.3% to €7.6 million. Adjusted EBITDA of €11.2 million decreased 25.5% Y/Y.
- Outlook: Mytheresa sees FY22 sales of €680 million - €700 million. The company expects FY22 GMV of €750 million - €770 million, representing a 22% - 25% growth.
- Price Action: MYTE shares closed at $30.40 on Monday.