Global Fashion Group raises full-year outlook | Retail News Europe

Global Fashion Group (GFG) increased its full-year outlook, stating that it anticipates exceeding the March adjusted EBITDA projection of negative US $ 27.19 million-US $ 48.94 million to negative US $ 17.4-US $ 30.45 million.

According to a press release from the company, the improvement in overall performance due to improved customer demand patterns is mostly due to operational efficiency measures. The third quarter’s adjusted EBITDA margin increased significantly as a result of the growth in gross margin and continued cost control.

GFG now anticipates a net merchandise value (NMV) decline of 8–12 per cent on a constant currency basis for the entire year, which is less than the previous range of 5–15 per cent, which implied an NMV range of US $ 1196.31 million–US $ 1261.56 million.

Preliminary third-quarter figures show that GFG’s NMV generated US $ 287.11 million, a 4 per cent decline. On a regional level, NMV fell by 1 per cent in ANZ, 12 per cent in SEA, and 1 per cent in LATAM. Revenue for the company decreased by 3 per cent to US $ 189.23 million.

To reach negative US $ 8.7 million, GFG’s third-quarter adjusted EBITDA margin of minus 5 per cent grew by 5 percentage points.