YNAP Q1 revenues up 15.4 pct on strong flagship store sales

Italian online fashion retailer Yoox-Net-A-Porter posted a 15.4 percent rise in first-quarter sales at current exchange rates, driven by revenue growth at its flagship stores.

Overall sales came in at 515 million euros ($562 million), just above an estimate by Thomson Reuters of 512 million euros. Sales rose 16 percent at constant exchange rates and 19.1 percent on a like-for-like basis.

Sales at YNAP's flagship stores, which include well-known brands such as Italy's Armani and account for almost 11 percent of total revenues, rose 20.6 percent in the first three months of the year.

The group processed 2.2 million orders in the period up from 2 million in January-March 2016, with an average order value of 343 euros, also up from the same period last year. ($1 = 0.9161 euros)