Yoox Q2 Earnings: Profits, Revenues Accelerate In First Half

Market watchers say Yoox SpA is on the path to accelerated growth and it hasn’t even tapped into the monetary possibilities of its much heralded merger with luxury e-tailer Net-A-Porter.

In Q2, Yoox Group’s founder and CEO Federico Marchetti said the company, which has partnerships with popular fashion and luxury brands and mega-luxury firm Kering, saw acceleration in revenue growth driven by Europe and Asia Pacific and supported by FX tailwinds.

For the first half of 2015, the group reported double-digit percentage growth in both its earnings and revenues but it’s second quarter wasn’t as glittering with a consolidated net loss of 1.1 million euros or $1.2 million. Adjusted, however, its net income for the quarter remained in the positive. The firm said its results reflect higher sales and marketing costs as a percentage of revenues and “a greater weight of general expenses to strengthen the corporate culture in light of its recent merger.”

Net Income: The company said, after non-recurring items, its consolidated net income for the second quarter declined more than 100 percent to a net loss of 1.1 million euros, or $1.2 million, compared to a consolidated net income of 1.6 million euros, or $1.8 million, in the comparable quarter.

Net Revenue: Net revenues for the second quarter rose 23 percent to 137.3 million euros, or $151.8 million, compared to 111.5 euros, or $123.3 million, in the same year-ago quarter.

Adjustments: The firm said its adjusted net income, excluding amounts related to the Net-A-Porter merger, came in at 1.4 million euros, or $1.5 million, compared to 1.6 million euros, or $1.8 million, in the same quarter of 2014.

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