MILAN, May 7 (Reuters) - Italian online retailer Yoox said on Wednesday it expected continued revenue and profit growth this year as it reported a 14.6 percent rise in net sales for the first quarter.
Yoox, which runs its own multibrand websites and powers online shops for brands including Armani and Yves Saint Laurent , said revenue reached 126.5 million euros ($176 million), broadly in line with analysts’ expectations of around 127 million euros.
Net profit for the period was 0.9 million euros, 13.4 percent lower than the previous year.
“It is reasonable to expect that the Yoox Group will continue to see growth in sales and profits in 2014. All of the group’s key markets and both business lines are expected to contribute positively to this growth,” the company said in a statement.
Yoox also said it had renewed its partnership to power an online store for fashion house DSquared2 for a further five years. ($1 = 0.7183 Euros) (Reporting by Isla Binnie; editing by Francesca Landini)