A new forecast from Forrester Research credits greater online spending by Canadians, lower shipping costs and more selection for the spending increase.
Q3 web and total sales increased 30% and 35%, respectively.
It’s been a good year financially so far for international online apparel and accessories retailer Yoox Group.
For the third quarter ended Sept. 30, Yoox Group, No. 67 in the Internet Retailer Top 500 Guide, reported:
- Total sales of 73.1 million euros ($99.6 million), a 35% increase from 54.2 million euros ($73.8 million) in the prior year quarter. That figure includes revenue from Yoox.com and TheCorner.com and the company’s e-commerce services business.
- Yoox does not break out specific segments, but Internet Retailer calculates that e-commerce revenue reached 54.6 million euros ($74.4 million), a 29.4% increase from 42.2 million euros ($57.5 million) in the prior year quarter. Calculations are based on Yoox Group’s Q2 and year-to-date earnings reports.
- Net income of about 715,000 euros ($973,900), a 3.4% increase compared with about 692,000 euros ($942,600).
Yoox Group also announced it has launched Yoox.com in the Korean language. The new version is the latest addition to the list of international online stores using the local language, including English (United Kingdom and U.S.), French, German, Japanese, Italian, Spanish and Russian.
For the first nine months, Yoox Group reported more specific financial data, including:
- Online sales of 152.4 million euros ($207.6 million), up by 31.4% from 116.0 million euros ($158.0 million) in the first nine months of 2010.
- Total sales of 204.4 million euros ($278.4 million), a 35.6% increase from 150.7 million euros ($205.3 million) in the prior year period.
- 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 about 51.9 million euros ($70.7 million), up by about 49.7% from 34.7 million euros ($47.2 million).
- Sales in Italy of 41.7 million euros ($56.8 million), up by about 18.8% from 35.1 million euros ($47.8 million).
- Sales to the rest of Europe of about 101.4 million euros ($138.1 million), a 38.2% increase from about 73.4 million euros ($99.9 million). Yoox Group (Europe) is No. 81 in the Internet Retailer Top 300 Europe.
- Sales in North America of 40.2 million euros ($54.8 million), up by about 37.5% from about 29.3 million euros ($39.9 million).
- Sales in Japan of about 13.8 million euros ($18.79 million), up by about (43.7%) from 9.6 million euros ($13.07 million).
- Net income was 3.6 million euros ($4.9 million) compared with net income of 4.0 million euros ($5.4 million) is the same period of 2010.
E-commerce growth came from forecast-topping results from TheCorner.com and the sustained growth of Yoox.com, the company says. Overall, online sales accounted for 74.6% of Yoox Group’s total revenue through three quarters of fiscal 2011, compared with 77.0% in the prior year, the company says. Mono-brand sales accounted for 25.4% of total sales, compared with 23.0% in the first three months of 2010.
TheCorner.com sells on-trend fashions and accessories for men and women.
Yoox 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 provides some or all such services to DolceGabbana.com, Dsquared2.com, JilSander.com and RobertoCavalli.com.