The Top 500 retailer buys Campus Deals, which offers mobile coupons to college students.
Yoox Group reports strong first quarter sales growth
Web and total sales growth topped 38% for the international online apparel retailer.
Topics: apparel retailer web sales, international online apparel, Q1 2011 earnings, Q1 2011 financials, Q1 earnings, Q1 financials, TheCorner.com, Top 300 Europe, Top 300 Europe Guide, Top 500, Yoox, Yoox Group
First quarter web sales got fiscal 2011 off to a flying start for international online apparel retailer Yoox Group.
For the quarter ended March 31, Yoox Group (US) reported:
- Online sales, including Yoox.com and TheCorner.com, totaled 52.9 million euros (US$75.8 million), a 38.1% increase from 38.3 million euros (US$54.9 million) in the first quarter of fiscal 2010.
- Total sales of 69.7 million euros (US$99.9 million), up by 38.6% from 50.3 million euros (US$72.1 million).
- Commercial web services revenue of 16.8 million euros (US$24.0 million), a 40% increase from 12.0 million euros (US$17.2 million) in the first quarter of fiscal 2010.
- Sales in Italy of 14.7 million euros (US$21.1 million), up by about 24.6% from 11.8 million euros (US$16.9 million).
- Sales to the rest of Europe of 35.3 million euros (US$50.6 million), up by about 42.9% from 24.7 million euros (US$35.4 million) in the prior year. Yoox Group (Europe) is No.81 in the Internet Retailer Top 300 Europe guide.
- North American sales of 13.3 million euros (US$19.0 million), up by about 40% from 9.5 million euros (US$13.6 million) in the first quarter of fiscal 2010.
- Sales in Japan of 4.5 million euros (US$6.4 million), up by about 45% from 3.1 million euros (US$4.4 million).
- Net income was 1.7 million euros, down about 15% from 2.0 million in Q1 2010.
Online sales accounted for 75.9% of total revenue for the quarter, the company says. The web contribution was changed little from the prior year period at 76.1%.
This web sales increase was attributed to both the improved performance of TheCorner.com and to the 2010-2011 fall and winter fashions collection of Yoox.com, which made a higher contribution to net sales than in the previous year, the company says, the result of a higher volume of purchases made during the second half of 2010.
Yoox, No. 67 in the new 2011 Internet Retailer Top 500 Guide, also operates third-party e-commerce services through Yoox Services. 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 Bally.com, Moschino.com, DolceGabbana.com, Dsquared2.com, JilSander.com and RobertoCavalli.com.