Mytheresa came into the market with a big price hike, but still managed to post double-digit gains in its introduction.
That left the company with a market capitalization of $2.9 billion, trading under the ticker MYTE on the New York Stock Exchange. Mytheresa made $354.8 million and plans to use much of that money to pay back a loan from Ares, which also sold $52 million worth of stock in the offering. While many companies and people have fallen through the gaps — 900,000 people filed for first-time unemployment claims last week, according to the Labor Department — the luxury set that Mytheresa caters to has largely been able to hunker down at home and funnel more spending dollars into e-commerce. Mytheresa’s adjusted income during the year ended June 30 rose 22.2 percent to 19.3 million euros as sales advanced 18.6 percent to 449 million euros.
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