By Giulia Segreti and Claudia Cristoferi
MILAN (Reuters) - Revenue at Yoox Net-a-Porter (YNAP) (MI:YNAP) this year will grow in the lower part of the expected 17-20 percent range due to logistics delays at one of its website, the online luxury retailer's chief executive said on Wednesday.
Federico Marchetti said the transfer of products between warehouses for the The Outnet - one of the group's four websites – was slower than expected, impacting the availability of products and triggering a 20 million euro sales loss for the full-year.
"We just had a very small bump in the road ... it happens, just like when you move houses", Marchetti told Reuters in an interview ahead of the group's third-quarter results. He underlined that the issue was a "one-off" event and would not have any knock-on effect in future years.
Marchetti confirmed the group's guidance to 2020 saying that the business was "strong, robust and solid".
He added that this year's EBITDA (earnings before interest, taxes, depreciation and amortization) would grow from last year while EBITDA margins would be "broadly in line" with 2016.