Global Fashion Group Q1 GMV improves 13.1 percent

Global Fashion Group S.A. (GFG), for the three-month period ended March 31, 2020, reported net merchandise value (NMV) increase of 13.1 percent on a constant currency basis to 372.1 million euros (402 million dollars). The company said in a statement that revenue growth for the quarter was 8.1 percent on a constant currency basis reflecting a growing proportion of transactions coming through the marketplace, which accounted for 25 percent of Q1 NMV. Gross margin for the quarter was 40.6 percent, up 300bps and adjusted EBITDA margin was negative 8.3 percent, an improvement of 150bps.