Despite sales increase, Mytheresa reports higher annual loss

Munich-based fashion retailer Mytheresa closed the 2023/24 financial year with a solid increase in sales. However, its loss was significantly higher than in the previous year. This is evident from the current annual report, which the listed holding company MYT Netherlands Parent BV published on Thursday.

In the financial year to the end of June, sales reached 840.9 million euros, which corresponded to an increase of 9.8 percent compared to the previous year. The gross merchandise value (GMV) increased by 7.1 percent to 913.6 million euros.

However, a decline in the gross margin contributed to EBITDA, shrinking by 32.8 percent to 25.8 million euros. The reported net loss grew by 46.4 percent from 17.0 to 24.9 million euros.

For the current 2024/25 financial year, management is forecasting growth in sales and GMV in the range of 7 to 13 percent. The target corridor for the EBITDA margin adjusted for special items, which was 3.1 percent last year, is between 3 and 5 percent.