GRENOBLE, France–(BUSINESS WIRE)–Regulatory news:
Spartoo (ISIN code: FR00140043Y1 – mnemonic: ALSPT) (Paris:ALSPT), one of the leading online retailers for fashion items in Europe, today announced that its target of 10% gross merchandise value (GMV)1 growth for fiscal years 2022 and 2023 is obsolete.
The company had previously communicated a GMV* growth target of more than 10% per year until 2024. This revision follows the confirmation of a slowdown in consumption in the online fashion segment, observed in particular during the month of October. A number of cyclical factors combine to affect consumer confidence, reducing the overall sales momentum of most fashion retailers. The impact of inflation on consumption will remain difficult to predict over the next 18 months.
Spartoo also reaffirms the soundness of its financial structure with cash of €26 million, net debt of €0.6 million and gearing of -1.8% as of June 30, 2022.
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With 10,000 brands and over 1.4 million items, Spartoo offers one of the widest selections of fashion items (shoe, ready to wear, Bags) in more than 30 countries in Europe, thanks to its team of more than 400 employees of nearly 30 different nationalities. In 2021, the Group generated a GMV (Gross Merchandise Value) of 214 million euros, of which 41% internationally. With an integrated logistics platform and after-sales service, Spartoo stands out for its customer-centric approach, as evidenced by a very high customer satisfaction rate. The strategy is based on the strong synergies between the online sales model and the strengths of physical stores, vectors of loyalty and notoriety. Capitalizing on its e-commerce know-how, Spartoo has also developed a complete range of services for professionals.
* Gross Merchandise Value (GMV): total sales of products (VAT included) and services, net of returns