Rising prices and the weakening economy are causing About You problems again. On Tuesday, the online fashion retailer announced a sales increase of 8.3 percent to 554.9 million euros for the past quarter. In the first two quarters of the 2022/2023 financial year, however, the increase was 19.4 and 8.9 percent, respectively. At the same time, the adjusted operating loss rose to EUR 43.1 million from EUR 30.5 million in the same period of the previous year. The company cited the high inventories as the reason for the latter. These should have been reduced through increased discount campaigns. The average shopping basket size has also shrunk by six percent to EUR 55.30.
Fashion retailer – About You makes a loss – Economy
