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.
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