- MYT Netherlands Parent BV (NYSE:MYTE) or Mytheresa reported fourth-quarter FY22 sales growth of 7.7% to €174.8 million.
- The gross merchandise value (GMV) for the quarter rose 18.2% Y/Y to €196.7 million.
- Gross profit improved 22.4% to €77.4 million, and the gross margin for the quarter expanded 650 basis points Y/Y to 54.2%.
- The company reported an adjusted operating income of €11.4 million, a 25.4% increase with an adjusted operating margin of 6.5%.
- Mytheresa held €113.5 million in cash and equivalents as of June 30, 2022.
- Adjusted net income increased 55.1% to €11.8 million.
- Adjusted EBITDA of €13.8 million increased 22.7% Y/Y, with the margin expanding 100 basis points to 7.9%.
- Outlook: Mytheresa sees FY23 sales of €755 million – €800 million. The company expects FY23 GMV of €865 million – €910 million, representing a 16% – 22% growth.
- Price Action: MYTE shares are trading higher by 4.70% at $13.60 on the last check Thursday.
Morgan Stanley Maintains Overweight on Cerevel Therapeutics Hldg, Raises Price Target to $39
Morgan Stanley analyst Matthew Harrison maintains Cerevel Therapeutics Hldg (NASDAQ:CERE) with a Overweight and raises the price target from $27 to $39.
