MYTE - Mytheresa announces preliminary Q3 2023 results revises outlook for FY 2023

2023-04-19 08:32:06 ET

• MYT Netherlands Parent ( NYSE: MYTE ) has announced preliminary unaudited financial results for Q3 2023, and updated outlook for FY 2023, as macro headwinds persist and continue to affect consumer sentiment.
• Mytheresa’s previous outlook, from February 2023, pointed to the lower end of the given range for top and bottom line.
• For Q3, the Co. expects Gross Merchandise Value in the range of €218-221M, Net Sales €196-199M, Gross Profit of €89-92M and Adj. EBITDA in the range of €2-4M.
• For FY 2023, the Co. updates it outlook with Gross Merchandise Value growth of 13%-15%, to €845-860M, Net Sales growth of 9%-11%, to €750-765M, Gross Profit growth of 7%-9%, to €380-386M, Adj. EBITDA of €34-43M and with an Adj. EBITDA margin between 4.5%-5.5%.
• “Despite the near-term headwinds that we regard as transitory, we remain confident in our strategy and mid and long-term goals." Michael Kliger, CEO of Mytheresa.

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