By  on May 10, 2012

MILAN — Costs associated with investments in automation and technology, as well as a higher tax rate, hurt Yoox Group’s bottom line in the first three months of the year.

For the period ended March 31, the Italian e-tailer reported a 25.6 percent drop in net profits, which fell to 1.2 million euros, or $1.5 million, compared with 1.7 million euros, or $2.3 million, in the same period last year.

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