Yoox-Net-A-Porter Q1 sales rise 14 pct

Italian online fashion retailer Yoox-Net-A-Porter posted a 13.8 percent rise in first-quarter sales, driven by its off-season shopping website.

Sales rose to 446 million euros, just below an average analyst estimate by Thomson Reuters of 453 million euros. Top management in March had guided for a “mid-teens” rise in sales. Sales rose 14.5 percent at constant exchange rates

Sales at YNAP’s off-season business rose 20 percent in the first three months of the year. In the same period, its higher-end in-season business posted an 11 percent rise in sales.

The group processed 2 million orders in the period up from 1.7 million in January-March 2015. The average order value was 324 euros compared to 334 euros then. Active clients rose to 2.5 million from 2.2 million.

YNAP said it had renewed for another 10 years its partnership with Italian fashion house Armani and would continue to manage the online flagship store by YOOX