MILAN — Italian online fashion retailer Yoox Group SpA on Wednesday said first quarter net profits dropped slightly on the same period of 2013, to 1.1 million euros, or $1.45 million, from 1.2 million euros, or $1.57 million, mainly due to higher depreciation and amortization costs following investments in innovation, technology and in the firm’s distribution platform. Net revenues, at 110.4 million euros, or $145.73 million, jumped 21.4 percent following double-digit sales growth at the company’s multi- and mono-brand businesses as well as strong sales gains in all the firm’s geographic markets.
Dollar amounts have been converted at average exchange rates for the periods to which they refer.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)