Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Net-a-Porter narrows losses

Luxury etailer Net-a-Porter narrowed losses by almost £4m last year as its new emphasis on full-price sales aided a revenue rise.

Revenues rose 18% to £434.7m in the year to March 31, 2013 as the level of discounting declined on previous years, boosting gross profit margin to 45.6% from 41.2%.

Pre-tax losses were £23.2m, down from £27m the year before.

Despite the sales increase the group warned it faces increased competition from luxury retailers, fashion design houses and ecommerce sites.

Net-A-Porter said it is “countering this competitive risk by regularly adding new designers, by enhancing its technology offering and online experience to its customers and by providing compelling content and an authoritative editorial voice on its websites.”

During the year Net-a-Porter, which is owned by Swiss luxury group Richemont, ploughed investment into its infrastructure, opening a Manhattan office in June 2012, a Hong Kong office in September 2012 and a Shanghai office in December 2012.

In its accounts filed on Companies House the etailer said current trading was ahead of the same period last year.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.