MYT Netherlands Parent BV-ADR (NYSE:MYTE) stock rose 1.03% (As on Sep 15, 12:11:58 PM UTC-4, Source: Google Finance) after the company in the fourth quarter of FY 21 has reported the adjusted net income of €7.6 million, as compared to €9.4 million in the prior year period. However, the net sales rose by 36.1% year-over-year to €162.4 million. The gross margin improved to 47.7%, as compared to 46.3% in the prior year period. The company posted the adjusted EBITDA of €11.2 million, as compared to €15.1 million in the prior year period, which was impacted by temporary cost saving measures put in place in Q4 FY 20 at the start of COVID, which were out of line with historic trends.
Moreover, the company during the quarter has posted strong net sales growth across all geographies with +36.1% compared to Q4 FY20 and +60.5% compared to Q4 FY19. There has been outstanding net sales growth in the United States with +133.3% compared to Q4 FY20 as consumer demand jumped up. Further, there has been high-impact Top Customers events in Beijing at TRB Temple and in Paris in collaboration with the Centre Pompidou. During the fourth quarter, the active customers grew by 38% year-over-year to 671,000 (LTM). There has been record growth of first-time buyers in Q4 FY21 with 110,000 new customers. The company continued positive repurchases rates of new customer cohorts acquired in Q2 FY21 in Q4 FY21, as compared to Q2 FY20 in Q4 FY20. There has been also strong growth of number of Top Customers with 64% as well as average net sales per Top Customer in Q4 FY21. The new partnership with Vestiaire Collective has offered a unique resale service for Mytheresa’s high-end luxury customers
For the full fiscal year ending June 30, 2022, the company expects GMV to be in the range of €750 million to €770 million, representing a 22% to 25% growth, active customer growth of 22% to 25%, enlarging the customer base to 820,000 to 845,000 active customers, Net Sales to be in the range of €680 million to €700 million, Gross Profit to be in the range of €345 million to €355 million, representing a 21% to 24% growth and Adjusted EBITDA margin to be at the upper half of the long-term range of 7% to 9%.