SIGNA Sports Posts Wider Loss In Q3

(RTTNews) - SIGNA Sports United N.V. (SSU) reported a third quarter net loss of 52 million euros compared to a loss of 13 million euros, previous year. Adjusted EBITDA was negative at 13 million euros, for the quarter, due to lower gross profit and inflationary pressures across cost lines in the current environment.

Net revenue was 324 million euros, up 29.2% year-over-year. On the pro forma basis, net revenue declined 14%, for the quarter.

For fiscal 2022, the company now anticipates, net revenue at 1.15 billion euros to 1.20 billion euros.

Alex Johnstone, CFO, said, "The company is well capitalized to make targeted investments in our logistics and technology platform, to deliver synergy and return to run-rate adjusted EBITDA profitability from the second half of our fiscal year 2023."

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.