Pursuits
Yoox Net-a-Porter Raises Savings Estimate Amid Merger Benefits
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Online luxury retailer Yoox Net-a-Porter SpA raised its estimate for annual cost savings as it reported its first quarterly earnings since the merger that created the company.
Synergies will reach 85 million euros ($91 million) by 2018, Milan-based Yoox Net-a-Porter said Wednesday after European markets closed. That compares with a previous estimate of 60 million euros. Nine-month adjusted net income rose 50 percent to 32.4 million euros on a so-called pro forma basis, the company said.