Yoox Net-a-Porter registered a bigger than expected increase in first-quarter sales, driven by strong sales in the US and Asia Pacific.

The online fashion retailer said revenues jumped 15.4% at current exchange rates to €514.8m during the three months ending March 31.

Sales were up 19.1% on a like-for-like basis.

Yoox Net-a-Porter hailed “positive growth in all key markets” but singled out North America and Asia Pacific as its “fastest growing regions” during the quarter.

Sales in North America surged 21.2% at current exchange rates to €161.3m, while its Asia Pacific business grew at the even quicker rate of 31.5% to €91.1m.

‘On track’

The etailer’s UK arm was also in positive territory, but sales growth was more subdued, climbing 2.5% to €66.7m.

Yoox Net-a-Porter said it recorded 200m website visits during the three-month period, up from 178m year-on-year.

It processed 2.2m orders compared to 2m in the first quarter of 2016 and boasted 3m active customers, up from 2.5m.

Average order value also grew year-on-year, rising from €324 to €343.

Yoox Net-a-Porter boss Federico Marchetti said the quarter put the business “on track” to achieve its “ambitious short and medium-term targets.”

Topics