The Chinese e-commerce giant will have $8 billion in cash after its IPO as well as valuable stock it can use for acquisitions. The ...
The international retailer posts a 26.5% web sales increase.
Second quarter and first half sales were up across the board for Yoox.com.
Yoox Group does not break out specific quarterly web sales, but Internet Retailer calculates Q2 web sales were 44.9 million euros ($64.1 million), a 26.5% increase from 35.5 million euros ($50.6 million) in the prior year quarter. Calculations are based on Yoox Group’s Q1 and year-to-date earnings reports.
For the second quarter ended June 30, Yoox reported:
- Total sales of 61.5 million euros ($87.8 million), up by about 33% from 46.3 million euros ($65.9 million).
- Net income of 1.26 million euros ($1.79 million), down by about 7.5% from 1.36 million euros ($1.94 million) in Q2 2010.
For the first six months of fiscal 2011, Bologna, Italy-based Yoox reported:
- E-commerce revenue from Yoox.com and TheCorner.com totaled 97.8 million euros ($139.5 million), up by 32.5% from 73.8 million euros ($105.3 million) in the prior year period.
- Total sales of 131.2 million euros ($187.2 million), up by 35.9% from 96.6 million euros ($137.7 million).
- E-commerce technology services revenue, which Yoox calls Mono-brand net revenue and includes services for brands such as Bally.com and Moschino.com, totaled 33.4 million euros ($47.6 million), a 47% increase from 22.7 million euros ($32.4 million).
- Sales in Italy of 28.0 million euros ($39.9 million), up by about 20.4% from 23.3 million euros ($33.1 million).
- Sales to the rest of Europe of 64.9 million euros ($92.6 million), a 39.7% increase from about 46.5 million euros ($66.3 million). Yoox Group (Europe) is No. 81 in the Internet Retailer Top 300 Europe.
- Sales in North America of 25.3 million euros ($36.1 million), up by 33.9% from 18.9 million euros ($26.9 million).
- Sales in Japan of 8.4 million euros ($12 million), up by about 38% from 6.1 million euros ($8.7 million).
- Net income of 2.9 million euros ($4.1 million), down by about 12.7% from 3.3 million euros ($4.7 million) in Q2 2010.
E-commerce revenue growth for the first six months of 2011 was attributed to “both the outstanding performance of TheCorner.com, which continues to record better results than forecast, and the sustained growth of Yoox.com,” the company says. “It should be noted that the positive performance of Yoox.com, which in the first quarter benefited from increased product availability compared with the 2010-2011 autumn/winter season, continues in line with expectations in the second quarter of 2011.”
TheCorner.com sells cutting-edge fashions and accessories for men and women.
Yoox also operates third-party e-commerce services through its Mono-brand division. It provides retailers and manufacturers with e-commerce platform management and support, order and content management, merchandising, marketing, and fulfillment services. Yoox also provides some or all such services to DolceGabbana.com, Dsquared2.com, JilSander.com and RobertoCavalli.com.
Yoox Group is No. 67 in the Internet Retailer Top 500 Guide.