GMV growth bounced back in the three months to March 31 after slowing in the second quarter due to the turbulent economic climate.
He noted that gross profit margin, which was 45.6 percent in Q3 compared with 48.8 percent in the previous quarter, was impacted by “strong promotional intensity of many competitors.” He emphasized that Mytheresa was still able to deliver profitable growth.
While the third quarter GMV figure was at the thin end of Mytheresa’s forecast, it showed a resurgence in demand compared to the previous three-month period.
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