Yoox Nex-A-Porter Group (BIT: YNAP) FY16 Trading Update: Strong Sales Growth in All Geographic Regions

Executive Summary

• Italian online fashion retailer YOOX Net-a-Porter Group reported net revenues of €1.87 billion in FY16, up 12.4% year over year on a reported basis and up 17.7% year over year at constant exchange rates. Revenues came in slightly below the consensus estimate of €1.89 billion.
• FY16 sales growth was driven by a strong performance across all geographic regions, especially the Asia-Pacific region, where sales increased by 27.1% at constant exchange rates. UK sales increased by 15.3% year over year at constant exchange rates.
• The average number of monthly unique visitors across the company’s sites rose by 7.9% year over year in FY16, to 28.8 million, and orders increased by 18.3% year over year, to 8.4 million.