MYT Netherlands Parent (NYSE: MYTE) stock is making big gains in Thursday’s trading. The company’s share price was up 12% as of 2:30 p.m. ET in the daily session, according to data from S&P Global Market Intelligence.
MYT Netherlands Parent, which is the parent company of luxury e-commerce business Mytheresa, published results for the fourth quarter of its fiscal year that ended on June 30. Sales, gross merchandise volume, and customer engagement results came in ahead of expectations, and the performance is powering gains for the stock.
MYT’s gross merchandise value (GMV) increased 13% year over year in Q4 to reach 222.2 million euros, and its revenue rose 16.5% to reach 203.8 million euros. While the company slipped into posting a loss of 5.7 million euros in the quarter after posting a profit of 1.6 million euros in last year’s quarter, the expansion doesn’t look particularly concerning in light of progress on efforts to reach new customers and increase engagement with those already using the Mytheresa platform.
The company’s total active customer count increased 10% across its last fiscal year, and the company recorded 126,000 new first-time buyers in the fourth quarter alone. Among top customers on its platform, Mytheresa saw a 30.1% total increase in GMV last year.
In addition to its strong Q4 results, MYT issued encouraging forward guidance. For the current fiscal year, MYT is guiding for GMV and sales growth to both come in between 8% and 13% annually. Meanwhile, the company also expects gross profit to increase between 8% and 13%.
Yet even after the pop for the stock today, MYT’s share price is down roughly 53% over the last year. The stock has generally struggled since going public at the beginning of 2021, but today’s results suggest that the Mytheresa platform is healthier than some had suspected.
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Keith Noonan has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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