Yoox Net-a-Porter grows but still failed to live up to expectations

Online retailer Yoox Net-a-Porter’s third quarter like-for-like turnover grew 17.7 % to 481.8 million euro, which is not entirely what analysts had expected. Its growth slowed down in the United States and China in particular.

Growth in every market

Yoox Net-a-Porter splits its revenue in three divisions: “Multi-brand In-Season” (with web shops like Net-a-Porter and Mr Porter) had a 16.8 % like-for-like turnover growth to 235.9 million euro, “Multi-brand Off-Season” (which includes Yoox) shot up 17.4 % to 203.6 million euro and the “online flagship stores” (which includes Valentino and Chloé) grew 4.8 % to 42.3 million euro.

There was growth in every market and the United Kingdom posted the largest growth numbers (+ 20.1 % to 63.8 million euro). European like-for-like turnover (excluding the United Kingdom and Italy) grew 17.5 % to 134.7 million euro.

Despite the strong growth, analysts were not happy about Yoox Net-a-Porter’s results, because they had expected slightly more turnover on the back of improved growth in North America and Asia. The year before, growth was 18 and 37 % respectively, but the online fashion seller had to settle for 10 and 14 % respectively.