Online luxury retailer Yoox Net-a-Porter SpA reported first-half earnings that beat estimates as the company’s mobile platform grew to account for more than half of sales.
Adjusted earnings before interest, taxes, depreciation and amortization rose 28 percent to 98 million euros ($116 million), the Milan-based company said Wednesday after European markets closed. Analysts had predicted 90 million euros, according to a Bloomberg survey.
Second-quarter sales rose 20 percent on an organic basis, slightly faster than a 19 percent jump in the first three months of the year. First-half sales of about 1 billion euros broadly matched analysts’ predictions.
“Since the second quarter we’ve seen a continued acceleration within our range,” Chief Executive Officer Federico Marchetti said by phone, confirming the company’s guidance for annual growth between 17 and 20 percent through 2020. “We’ve decided to be a company centered on…