Yoox-NAP posts 32 pct rise in pro-forma 9-month sales

Yoox Net-A-Porter reported on Wednesday pro-forma sales of 1.2 billion euros ($1.3 billion) for January-September offering a first glimpse into the group born from the merger of Italian online fashion retailer Yoox with upmarket rival Net-A-Porter.

Yoox agreed back in March to buy Net-a-Porter in an all-share deal that made Swiss luxury group Richemont the biggest shareholder in an online luxury market leader. The merger became effective on Oct. 5.

Reporting its last set of standalone earnings, Yoox-NAP also provided pro-forma figures for the combined entity showing sales growth of 32 percent in the first nine months. At constant currencies sales grew 22 percent.

Earnings before interest, tax, depreciation and amortisation rose 75 percent to 76 million euros. Net profit stood at 26 million euros.

Yoox-NAP raised its forecast on synergies expected from the merger to 85 million euros from 60 million euros previously.

The merged group processed 5 million orders in the first nine months with an average value of 354 euros each, up from 4 million orders worth on average 327 euros each the year before.

Active clients rose 15 percent to 2.3 millions.