German e-commerce bigwig Mytheresa has posted a 36.1 per cent jump in fourth-quarter net sales to clock €162.4 million. When compared to the same period in 2019, the rise has been 60.5 per cent.
The retailer has attributed the phenomenal growth to consumers’ growing shift to online shopping all through the pandemic phase.
The adjusted EBITDA during Q4 narrowed down to €11.2 million, compared to €15.1 million a year before. The retailer said this was due to temporary cost-saving programmes initiated.
Notably, net income during the quarter slumped from €9.4 million to €7.6 million.
Meanwhile, the retailer said that the Q4 growth was robust across all nations, especially in the US, where the sales shot up by a whopping 133.3 per cent.
For the entire year, net sales touched €612.1 million – 36.2 per cent higher than a year before and 61.5 per cent higher than what it was two years back.
Mytheresa, founded in 2006, is known for high-end apparels, shoes, bags and accessories from luxury designer brands such as Bottega Veneta, Burberry, Fendi, Gucci and Moncler, amongst others.