Fashionette lowers outlook on subdued consumer sentiment

Fashionette AG has adjusted its forecast for the financial year 2022 after customer demand to date in the current fourth quarter fell short of original expectations due to subdued consumer behaviour.

For the 2022 financial year, the company now expects a net revenue of 165 million euros to 175 million euros against 180 million euros to 187 million euros previously, corresponding to growth of approximately 7 percent to 13 percent on a pro forma basis compared to the previous outlook of 16 percent to 21 percent.

The company expected growth of approximately 23 percent to 31 percent on a consolidated basis compared to 34 percent to 40 percent previously

Fashionette now expects adjusted EBITDA of 1 million euros to 4 million euros against the previous outlook of 5 million euros to 7.5 million euros.

The company said in a release that although the first nine months of 2022 still showed pleasing growth in net revenue on a consolidated basis of 38.9 percent to 112 million euros, the executive board no longer assumes that the restrained customer demand will pick up noticeably in the remaining weeks of the year due to the difficult macroeconomic environment.

The company will publish the interim statement for the third quarter on November 15, 2022.