Mytheresa reports strong sales growth in Q2

Mytheresa’s second quarter net sales increased 8.3 percent on a constant currency basis and 3.6 percent on an IFRS basis to 197 million euros.

The company reported GMV growth of 5.9 percent on a constant currency basis and 1.5 percent on a nominal basis to 219.1 million euros, gross profit margin of 49.9 percent and positive adjusted EBITDA margin of 4 percent for the quarter.

Commenting on the second quarter trading, Michael Kliger, chief executive officer of Mytheresa, said: “We are pleased with our results in a challenging macro environment. With positive revenue growth and positive adjusted EBITDA in the second quarter, we not only surpassed market expectations but also outperformed almost all competitors.”

Mytheresa recorded 17.4 percent net revenue growth in the United States with 47.6 percent growth in top US customers. The number of customers rose 15.6 percent, while average order value LTM increased to 672 euros in the second quarter.

For the full fiscal year ending June 30, 2024, the company confirms its guidance at the lower end of the ranges. GMV and net sales growth is expected to be in the range of 8 percent to 13 percent, gross profit growth in the range of 8 percent to 13 percent and adjusted EBITDA margin in the range of 3 percent and 5 percent.