KEY HIGHLIGHTS FOR THE THIRD QUARTER ENDED MARCH 31, 2026
-- Stable top-line development of LuxExperience Group with reported Net
Sales at EUR618.4 million1 stable +0.0% on a constant currency basis
(-5.2% reported) vs. Q3 FY 25 despite geopolitical headwinds in Q3 FY26
-- Second consecutive quarter of Adjusted EBITDA profitability on Group
level with an Adjusted EBITDA margin of +0.9% in Q3 FY26
-- Results confirm our full FY26 guidance, and medium-targets of EUR4bn
Net Sales and 7-9% Adjusted EBITDA margin
-- Strong Net Sales Growth for Mytheresa of +9.9% on a constant currency
basis to reported EUR256.0 million (+5.6% reported) with Adjusted EBITDA
increasing +50.4% vs. Q3 FY 25 to a 5.5% Adjusted EBITDA margin
-- Clear impact of transformation plan with Group Adjusted SG&A cost ratio
decreasing by 360bps from 21.9% in Q1 and 19.1% in Q2 to now 18.3% in Q3
FY26
-- Strong Cash position and balance sheet: Cash and cash investments of
EUR436.1 million and balance sheet debt-free at the end of Q3 FY26
MUNICH--(BUSINESS WIRE)--May 19, 2026--
LuxExperience B.V. $(LUXE)$ (the "Company"), today announced its financial results for its third quarter of fiscal year 2026 ended March 31, 2026. The leading luxury multi-brand digital platform reported continued profitability on adjusted EBITDA level for the second consecutive quarter with significant improvements on many KPIs across all three business segments underlining the successful execution of our transformation plan.
Mytheresa business continues to outpace the market in terms of growth and further improved its profitability despite geopolitical headwinds in March. NET-A-PORTER and MR PORTER show further improvements driven by the new strategic focus on customer service, full-price selling and cost discipline. Our strategy of focusing on the healthy core of the YOOX business and the good progress in implementing a leaner operating model continues to show clear improvements for YOOX.
Michael Kliger, Chief Executive Officer of LuxExperience, said, "We are very pleased with the results of the third quarter. LuxExperience achieved positive Adjusted EBITDA profitability as a Group for the second consecutive quarter and significant improvements on many KPIs across all three business segments underline the successful execution of our transformation plan."
Kliger continued, "Mytheresa achieved strong profitable growth despite geopolitical headwinds in March. NET-A-PORTER and MR PORTER as well as YOOX showed further sequential improvements, fully in line with our ongoing transformation plan for both segments. We are fully on track to achieve our guided results for the full fiscal year 2026. LuxExperience is the clear digital multi-brand leader for luxury enthusiasts globally, and we are perfectly positioned to benefit from the sustained growth of digital luxury and the ongoing consolidation within the sector."
LUXEXPERIENCE FINANCIAL HIGHLIGHTS FOR THE THIRD QUARTER ENDED MARCH 31, 2026 (illustrative)
Amounts in EUR million are reported figures unless stated otherwise
-- Stable Net Sales of +0.0% ex-FX (-5.2% reported) compared to the prior
year quarter at reported EUR618.4 million
-- GMV growth of +0.3% ex-FX (-4.9% reported) compared to the prior year
quarter at reported EUR653.7 million
-- Group Adjusted SG&A cost ratio decreasing by 360bps from 21.9% in Q1
and 19.1% in Q2 to now 18.3% in Q3 FY26
-- Second consecutive quarter with positive Adjusted EBITDA of EUR5.7
million with an Adjusted EBITDA margin of +0.9%
-- Strong cash position with cash and cash investments of EUR436.1 million
and balance sheet debt-free
LUXURY | MYTHERESA FINANCIAL HIGHLIGHTS FOR THE THIRD QUARTER ENDED MARCH 31, 2026
Amounts in EUR million are reported figures unless stated otherwise
-- Net Sales increase of +9.9% ex-FX (+5.6% reported) year over year to
reported EUR256.0 million
-- GMV growth of +11.3% ex-FX (+7.0% reported) year over year to reported
EUR279.6 million
-- Gross Profit margin of 47.1%, an increase of 240bps year over year
-- Strong Adjusted EBITDA growth of +50.4% at EUR14.1 million vs. EUR9.3
million in Q3 FY25 and an Adjusted EBITDA margin of 5.5% in Q3 FY26 as
compared to 3.9% in the prior year period
LUXURY | NAP & MRP FINANCIAL HIGHLIGHTS FOR THE THIRD QUARTER ENDED MARCH 31, 2026 (illustrative)
Amounts in EUR million are reported figures unless stated otherwise
-- Net Sales decrease of -5.1% ex-FX (-11.7% reported) year over year to
reported EUR231.6 million
-- GMV decrease of -5.2% ex-FX (-11.8% reported) year over year to
reported EUR243.4 million
-- Strong increase in Gross Profit margin by 700bps to 48.5% in Q3 FY26 as
compared to 41.6% in Q3 FY25
-- Only slightly negative Adjusted EBITDA of -EUR1.1 million in Q3 FY26
with an Adjusted EBITDA margin of -0.5% as compared to -1.7% in the prior
year period
OFF-PRICE | YOOX FINANCIAL HIGHLIGHTS FOR THE THIRD QUARTER ENDED MARCH 31, 2026 (illustrative)
Amounts in EUR million are reported figures unless stated otherwise
-- Net Sales decrease of -7.4% ex-FX (-11.4% reported) year over year to
reported EUR130.7 million
-- GMV decline of -8.9% ex-FX (-12.9% reported) year over year to reported
EUR130.7 million
-- Strong increase in Gross Profit margin by 620bps to 37.5% in Q3 FY26 as
compared to 31.3% in the prior year period
-- Significant improvement in Adjusted EBITDA with -EUR7.2 million in Q3
FY26 with an Adjusted EBITDA margin of -5.5% as compared to -17.3% in Q3
FY25
LUXURY | MYTHERESA KEY BUSINESS HIGHLIGHTS
-- Launch of exclusive capsule collections and pre-launches in
collaboration with Alaia, Balenciaga, Bottega Veneta, Chloe, Gucci, Loewe,
Saint Laurent, Phoebe Philo and many more
-- Impactful top customer events and "money-can't-buy" experiences,
including Khaite in New York, Gianvito Rossi in Florence, and an industry
cocktail in Shanghai
-- Stable GMV per top customer of -1.5% but increase of top customer
numbers of +18.6% in Q3 FY26 and increase in Average Order Value (AOV)
LTM to EUR847, a 12.5% (reported) increase vs. Q3 FY25
-- Industry-leading Net Promoter Score of 86.8 in Q3 FY26, up 80bps vs.
the prior year period
LUXURY | NAP & MRP KEY BUSINESS HIGHLIGHTS(1)
-- NET-A-PORTER and MR PORTER driving customer engagement through uniquely
engaging editorial content and unique EIP experiences
-- NET-A-PORTER hosted an exclusive three-day winter experience for VIPs,
tastemakers and EIPs in the newly opened One & Only resort in Big Sky,
Montana, a dinner with Willy Chavarria to celebrate NYFW and a private
tour of Jonathan Anderson's brand-new JW boutique during LFW; launch of
The Spring Summer 26 Campaign 'Le Virage', celebrating the new season's
key fashion with over 64m global media reach
-- MR PORTER featured Hollywood icons Jon Hamm and Kit Harington in the MR
PORTER Journal; Jon Hamm's story reached 2.4m views on IG; Video story
about Danish brand NN07 reached 5m views; hosting global EIP events such
as a 2-day immersive style suite in Hong Kong, a dinner with George
Cleverley in Miami and an intimate lunch with Paul Smith in London;
launch of a 48-piece exclusive capsule with Brunello Cucinelli
-- Stable GMV per top customer of -1.4% and increase in Average Order
Value (AOV) LTM to EUR865 in Q3 FY26, a 7.9% (reported) increase vs. Q3
FY25
-- Net Promoter Score significantly up 890bps to now 68.1 in Q3 FY26
OFF-PRICE | YOOX KEY BUSINESS HIGHLIGHTS(1)
-- YOOX revealing a new visual identity & tone of voice, driving strong
early media resonance
-- Key cultural moments including Milan Fashion Week, Milan Design Week
and Berlinale in Berlin leveraged to create memorable experiences by YOOX
signaling the brand's rebirth
-- Growth in GMV per top customer of +1.3% and increase in Average Order
Value (AOV) LTM to EUR247, a 1.7% (reported) increase vs. Q3 FY25
-- Net Promoter Score of 48.8 in Q3 FY26 significantly up vs. 36.1 LY
(1) Comparative periods to April 23, 2025 are shown on an illustrative basis
GROUP KEY BUSINESS HIGHLIGHTS
-- Partial workforce reduction in connection with the transformation plan
across several sites completed
-- On track process of commerce platform migration for NET-A-PORTER and MR
PORTER
-- Separation of ex-YNAP Luxury and Off-price businesses almost fully
completed
-- Sale of the assets powering THE OUTNET successfully completed
SALE OF ASSETS POWERING THE OUTNET
On April 30, 2026, LuxExperience B.V. successfully closed the sale of the set of assets powering THE OUTNET platform to The O Group LLC (which has been renamed The Outnet Operations US, LLC). The completion of the transaction follows the binding agreement announced on October 31, 2025 and the fulfillment of all conditions, including receipt of all unconditional approvals from the relevant regulatory authorities.
CONFIRMED GUIDANCE
For the full fiscal year ending June 30, 2026, we confirm our guidance for the top- and bottom-line:
-- GMV EUR2.5 billion to EUR2.7 billion and -- an Adjusted EBITDA margin between -1% to +1%
The foregoing forward-looking statements reflect LuxExperience's expectations as of today's date. Given the number of risk factors, uncertainties and assumptions discussed below, actual results may differ materially. LuxExperience does not intend to update its forward-looking statements until its next quarterly results announcement, other than in publicly available statements.
CONFERENCE CALL AND WEBCAST INFORMATION
LuxExperience expects to release third quarter of fiscal year 2026 financial results before the U.S. market open on May 19, 2026. A conference call to discuss its results will follow at 8:00am Eastern Time that same day.
Event: LuxExperience Third Quarter Fiscal Year 2026 Earnings Conference Call
Event Date: May 19, 2026
Event Time: 8:00am ET
Webcast: Please follow the link
A webcast replay will be available on LuxExperience's investor relations website at investors.luxexperience.com
FORWARD LOOKING STATEMENTS
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements relating to financing activities; future sales, expenses, and profitability; future development and expected growth of our business and industry; our ability to execute our business model and our business strategy; having available sufficient cash and borrowing capacity to meet working capital, debt service and capital expenditure requirements for the next twelve months; and projected capital spending. In some cases, you can identify forward-looking statements by the following words: "anticipate," "believe," "continue," "could," "estimate, " "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "should," "will," "would" or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. These statements are only predictions. Actual events or results may differ materially from those stated or implied by these forward-looking statements. In evaluating these statements and our prospects, you should carefully consider the factors set forth below.
The risk that the completed YNAP acquisition and the post-acquisition integration could have an adverse effect on the ability of YNAP to retain customers and retain and hire key personnel and maintain relationships with their brand partners and customers and on their operating results and businesses generally; the risk that problems may arise in successfully integrating the businesses of YNAP and Mytheresa, which may result in the combined company not operating as effectively and efficiently as expected; the risk that the combined company may be unable to achieve cost-cutting synergies or that it may take longer than expected to achieve those synergies; LuxExperience's ability to effectively compete in a highly competitive industry; LuxExperience's ability to respond to consumer demands, spending and tastes; foreign currency exchange rate fluctuations; general economic conditions, including economic conditions resulting from deteriorating geopolitical and macroeconomic conditions, such as the recent global trade war, that may adversely impact consumer demand; The ongoing conflict involving Iran and the related disruption to shipping through the Straight of Hormuz, and their effects on energy prices, supply chain costs, and heightened macroeconomic uncertainty that may adversely affect consumer confidence and spending; LuxExperience's ability to acquire new customers and retain existing customers; consumers of luxury products may not choose to shop online in sufficient numbers; the volatility and difficulty in predicting the luxury fashion industry; LuxExperience's reliance on consumer discretionary spending; and LuxExperience's ability to maintain average order levels and other factors.
We undertake no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.
The achievement or success of the matters covered by such forward-looking statements involves known and unknown risks, uncertainties and assumptions. If any such risks or uncertainties materialize or if any of the assumptions prove incorrect, our results could differ materially from the results expressed or implied by the forward-looking statements we make.
You should not rely upon forward-looking statements as predictions of future events. Forward-looking statements represent our management's beliefs and assumptions only as of the date such statements are made.
Further information on these and other factors that could affect our financial results is included in filings we make with the U.S. Securities and Exchange Commission ("SEC") from time to time, including the section titled "Risk Factors" included in the Form 20-F filed on October 30, 2025. These documents are available on the SEC's website at www.sec.gov and on the SEC Filings section of the Investor Relations section of our website at: https://investors.luxexperience.com.
The acquisition of YOOX Net-A-Porter Group S.p.A. ("YNAP") (together with its subsidiaries, "YNAP Sub-Group") by LuxExperience was completed on April 23, 2025 ("YNAP Acquisition"). The results of YNAP are included within the consolidated financial statements of LuxExperience for the period beginning on the date of the acquisition through the end of the respective period presented and the results of Mytheresa are included for the entirety of all periods presented.
ABOUT NON-IFRS FINANCIAL MEASURES AND OPERATING METRICS
Our non-IFRS financial measures include:
-- Adjusted EBITDA is a non-IFRS financial measure that we calculate as
net loss before finance expense (net), taxes, and depreciation and
amortization, adjusted to exclude the recognition/release of
extraordinary inventory write down, foreign exchange gains and losses
arising on intercompany balances, other transaction-related, certain
legal and other expenses, share-based compensation expense, and one-off
Intercompany recharges. Adjusted EBITDA Margin is a non-IFRS financial
measure which is calculated in relation to net sales.
-- Gross Merchandise Value (GMV) is an operative measure and means the
total Euro value of orders processed. GMV is inclusive of merchandise
value, shipping and duty. It is net of returns, value added taxes and
cancellations. GMV does not represent revenue earned by us. We use GMV as
an indicator for the usage of our platform that is not influenced by the
mix of direct sales and commission sales. The indicators we use to
monitor usage of our platform include, among others, active customers,
total orders shipped and GMV.
-- Gross Merchandise Value (GMV) and Net Sales Growth on a constant
currency basis (ex-FX) are non-IFRS financial measures that are
calculated by translating current period financial data at the prior year
average exchange rates applicable to the local currency in which the
transactions are denominated, including effects from hedge accounting. We
use constant currency information to provide us with a picture of
underlying business dynamics, excluding currency effect. These
calculations do not include any other macroeconomic effect such as local
currency inflation effects or any price adjustment to compensate local
currency inflation or devaluations. While we believe that constant
currency information may be useful to investors in understanding and
evaluating our results of operations in the same manner as our management,
our use of constant currency metrics has limitations as an analytical
tool, and you should not consider it in isolation, or as an alternative
to, or a substitute for analysis of our financial results as reported
under IFRS. Further, other companies, including companies in our industry,
may report the impact of fluctuations in foreign currency exchange rates
differently, which may reduce the value of our constant currency
information as a comparative measure.
-- Illustrative key operating and financial metrics by segment are
non-IFRS financial measures that we present by segment for each period
and were prepared by combining the historical standalone statements of
operations for each of legacy YNAP and Mytheresa. These measures are
provided for illustrative purposes only and do not purport to represent
what the actual consolidated results of operations or consolidated
financial condition would have been had the acquisition actually occurred
on the date indicated, nor do they purport to project the future
consolidated results of operations or consolidated financial condition
for any future period or as of any future date. In addition, these
measures have not been prepared in accordance with Article 11 of
Regulation S-X.
We are not able to forecast net income (loss) on a forward-looking basis without unreasonable efforts due to the high variability and difficulty in predicting certain items that affect net income (loss), including, but not limited to, Income taxes and Interest expense and, as a result, are unable to provide a reconciliation to forecasted Adjusted EBITDA.
SEGMENT REALIGNMENT
Beginning with the first quarter ended September 30, 2025, LuxExperience has realigned its reportable segments to correspond with changes to its operating model to reflect its new management structure and organizational responsibilities following the acquisition of YNAP. As further described herein, LuxExperience's three reportable segments are: Luxury | Mytheresa, Luxury | NAP & MRP, and Off-price | YOOX. THE OUTNET is classified as "discontinued operations" and is no longer considered part of LuxExperience's core financial performance.
ABOUT LUXEXPERIENCE
LuxExperience is the leading digital, multi-brand luxury group and the online shopping destination for luxury enthusiasts worldwide. LuxExperience operates a portfolio of some of the most distinguished store brands in digital luxury and creates communities for luxury enthusiasts with unique digital and physical experiences. Mytheresa, NET-A-PORTER and MR PORTER, jointly comprising the luxury segments of LuxExperience, offer highly curated edits of the most prestigious luxury brands across the world, featuring womenswear, menswear, kidswear, fine jewelry & watches, and lifestyle products. YOOX, which forms the off-price segment of LuxExperience, is the leading destination for multi-brand off-season online luxury shopping. The NYSE listed group operates worldwide.
For more information, please visit https://investors.luxexperience.com.
LuxExperience B.V.
Illustrative key operating and financial metrics by segment for the
three months and nine months ended March 31, 2025 and 2026
The following illustrative segment information for Luxury | Mytheresa, Luxury | NAP & MRP and Off-Price | YOOX is presented as if these segments had been included in LuxExperience Group's management reporting for the three months and nine months ended March 31, 2025. These segments were not presented in the Company's unaudited quarterly report for the three and nine months ended March 31, 2025 as the YNAP Group was subsequently acquired on April 23, 2025, and therefore was not owned by the Company during the prior year comparative period presented. The following segment information should not be viewed as a substitute for LuxExperience Group's segment reporting. Further, the segment information presented here is not necessarily indicative of LuxExperience Group's results to be expected for any future periods.
THE OUTNET, which was previously managed and monitored as a separate major line of business within the Off-Price segment, has been classified as a discontinued operation in accordance with IFRS 5 for the three and nine months ended March 31, 2026. Accordingly, financial performance for this period has been excluded from the Off-Price segment and is reported separately within discontinued operations. Further information on THE OUTNET and the related discontinued operations presentation can be found in Note 9 within the notes to the financial statements.
The following table shows our operating and financial metrics for Luxury | Mytheresa segment for the three months and nine months ended March 31, 2025 and 2026. For the periods presented, these figures represent actual results and are not illustrative in nature.
Three Months Ended Nine Months Ended
-------------------------------- --------------------------------
March March March March
(in millions) 31, 31, Change in 31, 31, Change in
(unaudited) 2025 2026 % / BPs 2025 2026 % / BPs
------------------- ----- ----- ---------- ----- ----- ----------
Gross Merchandise
Value (GMV) (1) 261.3 279.6 7.0% 722.6 794.3 9.9%
Active customer (LTM
in thousands) (1),
(2) 837 774 (7.5)% 837 774 (7.5)%
Total orders shipped
(LTM in thousands)
(1), (2) 2,055 1,982 (3.6)% 2,055 1,982 (3.6)%
Average order value
$(LTM)$ (2) 753 847 12.5% 753 847 12.5%
Net sales 242.5 256.0 5.6% 667.2 725.1 8.7%
Gross profit 108.5 120.7 11.2% 310.7 348.6 12.2%
Gross profit
margin(3) 44.8% 47.1% 240 BPs 46.6% 48.1% 150 BPs
Adjusted EBITDA(4) 9.3 14.1 50.4% 28.4 44.5 56.6%
Adjusted EBITDA
margin(3) 3.9% 5.5% 160 BPs 4.3% 6.1% 190 BPs
(1) Definition of GMV, Active customer and Total orders shipped can be
found on page 36 in our quarterly report.
(2) Active customers and total orders shipped are calculated based on
orders shipped from our sites during the last twelve months (LTM)
ended on the last day of the period presented.
(3) As a percentage of net sales.
(4) EBITDA and adjusted EBITDA are measures not defined under IFRS. For
further information about how we calculate these measures and
limitations of its use, see page 36 in our quarterly report.
The following table illustrates operating and financial metrics for Luxury | NAP & MRP segment for the three and nine months ended March 31, 2025 and 2026. For the three and nine months ended March 31, 2026, these figures represent actual results and for the three and nine months ended March 31, 2025, these figures are illustrative in nature.
Three Months Ended Nine Months Ended
--------------------------------- ----------------------------------
March March March March
(in millions) 31, 31, Change 31, 31, Change
(unaudited) 2025 2026 in % / BPs 2025 2026 in % / BPs
------------------- ----- ----- ----------- ----- ----- ------------
Gross Merchandise
Value (GMV) (1) 276.0 243.4 (11.8)% 823.9 758.6 (7.9)%
Active customer (LTM
in thousands) (1),
(2) 982 818 (16.7)% 982 818 (16.7)%
Total orders shipped
(LTM in thousands)
(1), (2) 2,604 2,227 (14.5)% 2,604 2,227 (14.5)%
Average order value
(LTM) (2) 802 865 7.9% 802 865 7.9%
Net sales 262.4 231.6 (11.7)% 780.1 721.0 (7.6)%
Gross profit 109.1 112.4 3.0% 349.1 341.0 (2.3)%
Gross profit
margin(3) 41.6% 48.5% 700 BPs 44.8% 47.3% 250 BPs
Adjusted EBITDA(4) (4.5) (1.1) (74.9)% 5.1 (13.4) (364.3)%
Adjusted EBITDA
margin(3) (1.7)% (0.5)% 120 BPs 0.6% (1.9)% (250 )BPs
(1) Definition of GMV, Active customer and Total orders shipped can be
found on page 36 in our quarterly report.
(2) Active customers and total orders shipped are calculated based on
orders shipped from our sites during the last twelve months (LTM)
ended on the last day of the period presented.
(3) As a percentage of net sales.
(4) EBITDA and adjusted EBITDA are measures not defined under IFRS. For
further information about how we calculate these measures and
limitations of its use, see page 36 in our quarterly report.
The following table illustrates operating and financial metrics for Off-Price | YOOX segment for the three and nine months ended March 31, 2025 and 2026. For the three and nine months ended March 31, 2026, these figures represent actual results and for the three and nine months ended March 31, 2025, these figures are illustrative in nature.
Three Months Ended Nine Months Ended
--------------------------------- ---------------------------------
March March March March
(in millions) 31, 31, Change 31, 31, Change
(unaudited) 2025 2026 in % / BPs 2025 2026 in % / BPs
------------------- ----- ----- ----------- ----- ----- -----------
Gross Merchandise
Value (GMV) (1) 150.0 130.7 (12.9)% 440.2 374.6 (14.9)%
Active customer (LTM
in thousands) (1),
(2) 1,255 1,064 (15.2)% 1,255 1,064 (15.2)%
Total orders shipped
(LTM in thousands)
(1), (2) 3,403 2,837 (16.6)% 3,403 2,837 (16.6)%
Average order value
(LTM) (2) 243 247 1.7% 243 247 1.7%
Net sales 147.5 130.7 (11.4)% 424.9 374.6 (11.9)%
Gross profit 46.2 49.0 6.1% 154.7 145.7 (5.8)%
Gross profit
margin(3) 31.3% 37.5% 620 BPs 36.4% 38.9% 250 BPs
Adjusted EBITDA(4) (25.6) (7.2) (71.7)% (55.3) (33.8) (38.9)%
Adjusted EBITDA
margin(3) (17.3)% (5.5)% 1,180 BPs (13.0)% (9.0)% 400 BPs
(1) Definition of GMV, Active customer and Total orders shipped can be
found on page 36 in our quarterly report.
(2) Active customers and total orders shipped are calculated based on
orders shipped from our sites during the last twelve months (LTM)
ended on the last day of the period presented.
(3) As a percentage of net sales.
(4) EBITDA and adjusted EBITDA are measures not defined under IFRS. For
further information about how we calculate these measures and
limitations of its use, see page 36 in our quarterly report.
The following tables include comparative illustrative segment information for the three and nine months ended March 31, 2025. For the three and nine months ended March 31, 2025, the amounts reflect actual results for the Luxury | Mytheresa segment and illustrative information for the Luxury | NAP & MRP and Off-Price | YOOX segments.
Three months ended March 31, 2025
-----------------------------------------------------------------------
Luxury Total
Luxury NAP Off-Price Segments
(in EUR millions) & excl.
(unaudited) Mytheresa MRP(6) YOOX Other Other(3) Aggregated
------------------ ----------- ------- ----------- ---------- ---------- ------------
Net sales 242.5 262.4 147.5 652.4 36.9 689.3
Cost of sales,
exclusive of
depreciation and
amortization (134.0) (153.3) (101.3) (388.6) (39.3) (427.9)
------- ------ ------- ------ ------ -------
Gross profit 108.5 109.1 46.2 263.8 (2.3) 261.4
Shipping and
payment cost (36.6) (30.5) (22.0) (89.2) (2.0) (91.2)
Marketing expenses (26.5) (20.7) (7.6) (54.8) (0.5) (55.2)
Selling, general
and administrative
expenses (34.0) (56.0) (37.1) (127.1) (6.1) (133.2)
Other income
(expense), net (2.0) (6.4) (5.0) (13.4) 2.8 (10.6)
Segment EBITDA 9.3 (4.5) (25.6) (20.7) (8.1) (28.8)
Nine months ended March 31, 2025
--------------------------------------------------------------------
Luxury Total
Luxury NAP Off-Price Segments
(in EUR millions) & excl.
(unaudited) Mytheresa MRP(6) YOOX Other Other(3) Aggregated
------------------ ----------- ------- ----------- --------- -------- ------------
Net sales 667.2 780.1 424.9 1,872.3 130.9 2,003.1
Cost of sales,
exclusive of
depreciation and
amortization (356.5) (431.0) (270.2) (1,057.7) (124.8) (1,182.5)
------- ------ ------- -------- ------- ---------
Gross profit 310.7 349.1 154.7 814.6 6.0 820.6
Shipping and
payment cost (99.6) (96.0) (67.9) (263.5) (10.7) (274.2)
Marketing expenses (81.6) (63.4) (27.2) (172.2) (4.2) (176.4)
Selling, general
and administrative
expenses (98.1) (179.8) (111.0) (389.0) (25.1) (414.1)
Other income
(expense), net (2.9) (4.9) (3.9) (11.8) 6.9 (4.9)
Segment EBITDA 28.4 5.1 (55.3) (21.8) (27.1) (48.9)
The following tables include comparative segment information for the three and nine months ended March 31, 2026.
Three months ended March 31, 2026
--------------------------------------------------------------------------------------
Luxury Total
Luxury NAP Off-Price Segments Reconciliation
(in EUR millions) excl. Other
(unaudited) Mytheresa & MRP YOOX Other (3) (1)(2)(4)(5) Consolidated
------------------ ----------- ------- ----------- ---------- ----- ---------------- --------------
Net sales 256.0 231.6 130.7 618.4 0.1 - 618.5
Cost of sales,
exclusive of
depreciation and
amortization (135.3) (119.2) (81.7) (336.3) (0.9) - (337.1)
------- ------ ------ ------ ---- -------- ------ -------- ---
Gross profit 120.7 112.4 49.0 282.1 (0.8) - 281.3
Shipping and
payment cost (1) (46.1) (35.5) (21.0) (102.7) - (0.2) (102.9)
Marketing expenses (27.0) (24.5) (7.9) (59.4) - - (59.4)
Selling, general
and administrative
expenses (1), (2) (34.1) (57.0) (28.7) (119.9) - (11.3) (131.2)
Other income
(expense), net
(1), (5) 0.7 3.5 1.5 5.6 - (4.4) 1.2
Segment EBITDA 14.1 (1.1) (7.2) 5.7 (0.8) (16.0) (11.0)
Nine months ended March 31, 2026
-------------------------------------------------------------------------------------
Luxury Total
Luxury NAP Off-Price Segments Reconciliation
(in EUR millions) excl. Other
(unaudited) Mytheresa & MRP YOOX Other (3) (1)(2)(4)(5) Consolidated
------------------ ----------- ------- ----------- -------- ------ ---------------- --------------
Net sales 725.1 721.0 374.6 1,820.6 21.1 (2.9) 1,838.9
Cost of sales,
exclusive of
depreciation and
amortization (376.5) (380.0) (228.9) (985.3) (15.6) 2.9 (998.1)
------- ------ ------- ------- ----- -------- ------ ---------
Gross profit 348.6 341.0 145.7 835.3 5.5 - 840.8
Shipping and
payment cost (1) (123.4) (102.7) (58.1) (284.2) (2.0) (3.9) (290.1)
Marketing expenses (84.0) (64.7) (22.5) (171.3) - - (171.3)
Selling, general
and administrative
expenses (1), (2) (97.1) (185.1) (97.3) (379.6) (1.5) (69.4) (450.5)
Other income
(expense), net
(1), (5) 0.4 (1.8) (1.6) (2.9) 0.9 (6.9) (9.0)
Segment EBITDA 44.5 (13.4) (33.8) (2.7) 2.8 (80.2) (80.1)
(1) Other transaction-related, certain legal and other expenses include
professional fees (including advisory and accounting fees) related
to potential transactions, as well as certain legal and other
expenses incurred outside the ordinary course of business. For the
three and nine months ended March 31, 2026, expenses of EUR6,607
thousand and EUR59,909 thousand, respectively, were incurred and are
reflected in the reconciliation column. These amounts have been
excluded from Segment EBITDA and primarily impact Shipping and
payment costs, Selling, general and administrative expenses, and
Other income (expense), net.
(2) Certain members of management and supervisory board members have
been granted share-based compensation for which the related expense
is recognized over the applicable vesting periods. Management
adjusts Segment EBITDA to exclude share-based compensation expense,
as it is not considered indicative of the Group's underlying
operating performance. For the three and nine months ended March 31,
2026, share-based compensation expense amounted to EUR4,950 thousand
and EUR11,954 thousand, respectively, and is reflected in the
reconciliation column, primarily within Selling, general and
administrative expenses.
(3) Represents Online Flagship Stores ("OFS") and Feng-Mao ("FM")
businesses being wound down.
(4) During the three and nine months ended March 31, 2026, intercompany
sales of EUR0 and EUR2,858 thousand, respectively, were included in
Net sales, with corresponding amounts included in Cost of sales,
exclusive of depreciation and amortization. As these intercompany
transactions are eliminated on consolidation, the related amounts
are reflected in the reconciliation column.
(5) Includes foreign exchange gains and losses arising on intercompany
balances, recorded in Other income (expense), net. These amounts are
excluded from Segment EBITDA, as they reflect increased foreign
exchange volatility on intra-group cash balances. The adjustment
represents a foreign exchange loss of EUR4,404 thousand for the
three months ended March 31, 2026 and a foreign exchange loss of
EUR8,318 thousand for the nine months ended March 31, 2026.
(6) For the prior comparative periods, the results for the Luxury | NAP
& MRP segment for the three and nine months ended March 31, 2025
exclude the impact of EUR25.9 million and EUR35.0 million inventory
write-up adjustments recognized prior to the acquisition, which, if
included, would have reduced cost of sales and increased segment
EBITDA by these amounts, respectively.
The following tables set forth the reconciliations of net loss to EBITDA to adjusted EBITDA, and their corresponding margins as a percentage of net sales.
Three Months Ended March 31, Nine Months Ended March 31,
---------------------------- ------------------------------
Change Change
(in millions) (unaudited) 2025 2026 in % 2025 2026 in %
------------------------- ----- ----- ------ ----- ------- ------
Net loss from continuing
operations (5.5) (31.2) 467% (33.7) (131.7) 291%
Finance (income)
costs, net 1.0 0.0 (96)% 4.1 3.5 (15)%
Income tax expense
(benefit) (0.9) 1.4 (258)% (8.4) 4.4 (152)%
Depreciation,
amortization and
impairment losses 3.9 18.7 381% 14.9 43.8 194%
EBITDA (1.5) (11.0) 632% (23.1) (80.1) 247%
Other
transaction-related,
certain legal and
other expenses(1) 7.4 6.6 (11)% 38.3 59.9 56%
Share-based
compensation(2) 3.5 4.9 41% 13.2 12.0 (9)%
Foreign exchange
(gains) losses (3) -- 4.4 N/A - 8.3 N/A
Adjusted EBITDA 9.3 5.0 (46)% 28.4 0.1 (100)%
Reconciliation to
Adjusted EBITDA Margin
Net sales 242.5 618.5 155% 667.2 1,838.9 176%
Adjusted EBITDA margin 3.9% 0.8% (300 )BPs 4.3% 0.0% (430 )BPs
(1) Includes Other transaction-related, certain legal and other expenses
including (i) professional fees, including advisory and accounting
fees, related to potential transactions, (ii) certain legal and
other expenses incurred outside the ordinary course of our business,
and (iii) other non-recurring expenses incurred in connection with
the costs of closing distribution centers.
(2) Share-based compensation includes expenses related to share-based
compensation grants made to certain members of our management and
Supervisory Board for which the share-based compensation expense
will be recognized upon defined vesting schedules in the future
periods. Our methodology to adjust for share-based compensation and
subsequently calculate Adjusted EBITDA includes both share-based
compensation expense connected to the IPO and share-based
compensation expense recognized in connection with grants under the
LTI for the LuxExperience Group's key management members as well as
share-based compensation expense due to Supervisory Board Members
Plan. We do not consider share-based compensation expense to be
indicative of our core operating performance. This adjustment
impacts sales, general and administrative expenses.
(3) Includes foreign exchange gains and losses arising on intercompany
balances. This adjustment impacts Other income (expense), net.
The following table sets forth the reconciliations of GMV to growth of GMV on a constant currency basis and of net sales to growth of net sales on a constant currency basis for the LuxExperience Group for the three months ended March 31, 2025 and 2026:
Three Months Ended March 31,
-------------------------------------
Year-over-Year
Chang
2025 2026 in %
--------- ---------- --------------
(in millions) (unaudited)
Gross Merchandise Value (GMV) EUR 687.3 EUR 653.7 (4.9)%
Foreign Exchange Impact(1) EUR (1.2) EUR (36.9)
Gross Merchandise Value (GMV) at
Constant Currency (ex-FX) EUR 688.5 EUR 690.6 0.3%
Net Sales EUR 652.4 EUR 618.4 (5.2)%
Foreign Exchange Impact(1) EUR (1.3) EUR (35.2)
Net Sales at Constant Currency
(ex-FX) EUR 653.7 EUR 653.6 0.0%
The following table sets forth the reconciliations of GMV to growth of GMV on a constant currency basis and of net sales to growth of net sales on a constant currency basis for Luxury | Mytheresa segment for the three months ended March 31, 2025 and 2026:
Three Months Ended March 31,
-------------------------------------
Year-over-Year
Change
2025 2026 in %
--------- ---------- --------------
(in millions) (unaudited)
Gross Merchandise Value (GMV) EUR 261.3 EUR 279.6 7.0%
Foreign Exchange Impact(1) EUR (1.2) EUR (12.5)
Gross Merchandise Value (GMV) at
Constant Currency (ex-FX) EUR 262.5 EUR 292.1 11.3%
Net Sales EUR 242.5 EUR 256.0 5.6%
Foreign Exchange Impact(1) EUR (1.2) EUR (11.8)
Net Sales at Constant Currency
(ex-FX) EUR 243.7 EUR 267.8 9.9%
The following table sets forth the reconciliations of GMV to growth of GMV on a constant currency basis and of net sales to growth of net sales on a constant currency basis for Luxury | NAP & MRP segment for the three months ended March 31, 2025 and 2026:
Three Months Ended March 31,
-------------------------------------
Year-over-Year
Chang
2025 2026 in %
--------- ---------- --------------
(in millions) (unaudited)
Gross Merchandise Value (GMV) EUR 276.0 EUR 243.4 (11.8)%
Foreign Exchange Impact(1) EUR 0.0 EUR (18.4)
Gross Merchandise Value (GMV) at
Constant Currency (ex-FX) EUR 276.0 EUR 261.8 (5.2)%
Net Sales EUR 262.4 EUR 231.6 (11.7)%
Foreign Exchange Impact(1) EUR 0.0 EUR (17.5)
Net Sales at Constant Currency
(ex-FX) EUR 262.4 EUR 249.2 (5.1)%
The following table sets forth the reconciliations of GMV to growth of GMV on a constant currency basis and of net sales to growth of net sales on a constant currency basis for Off-Price | YOOX segment for the three months ended March 31, 2025 and 2026:
Three Months Ended March 31,
------------------------------------
Year-over-Year
Change
2025 2026 in %
--------- --------- --------------
(in millions) (unaudited)
Gross Merchandise Value (GMV) EUR 150.0 EUR 130.7 (12.9)%
Foreign Exchange Impact(1) EUR 0.0 EUR (6.0)
Gross Merchandise Value (GMV) at
Constant Currency (ex-FX) EUR 150.0 EUR 136.7 (8.9)%
Net Sales EUR 147.5 EUR 130.7 (11.4)%
Foreign Exchange Impact(1) EUR 0.0 EUR (6.0)
Net Sales at Constant Currency
(ex-FX) EUR 147.5 EUR 136.6 (7.4)%
(1) Foreign Exchange Impact means translating current period financial data
using the average foreign exchange rates during the corresponding period
in the prior fiscal year applicable to the local currency in which the
transactions are denominated so as to calculate what our results would
have been had exchange rates remained stable from one fiscal year to the
next. These calculations do not include any other macroeconomic effect
such as local currency inflation effects or any price adjustment to
compensate local currency inflation or devaluations.
LuxExperience B.V.
Unaudited Condensed Consolidated Statements of Loss and Comprehensive
Loss (Amounts in EUR thousands, except share and per share data)
Three Months Ended Nine Months Ended
March 31, March 31,
--------------------- -----------------------
(in EUR thousands) 2025 2026 2025 2026
-------------------- ---------- --------- --------- ------------
Net sales 242,508 618,469 667,194 1,838,890
Cost of sales,
exclusive of
depreciation and
amortization (133,976) (337,139) (356,443) (998,102)
-------- -------- -------- ---------
Gross profit 108,532 281,330 310,751 840,788
Shipping and payment
cost (36,613) (102,929) (99,671) (290,115)
Marketing expenses (26,525) (59,448) (81,594) (171,252)
Selling, general and
administrative
expenses (44,890) (131,159) (149,628) (450,483)
Depreciation,
amortization and
impairment losses (3,892) (18,743) (14,949) (43,838)
Other income
(expense), net (2,035) 1,222 (2,916) (8,995)
-------- -------- -------- ---------
Operating loss (5,422) (29,727) (38,006) (123,896)
Finance costs (969) (3,411) (4,143) (10,240)
Finance income - 3,370 - 6,739
Finance costs, net (969) (40) (4,143) (3,501)
-------- -------- -------- ---------
Loss before income
taxes (6,391) (29,768) (42,149) (127,396)
Income tax (expense)
benefit 898 (1,425) 8,445 (4,352)
-------- -------- -------- ---------
Net loss from
continuing
operations (5,493) (31,193) (33,704) (131,749)
Loss from discontinued
operations net of
tax - (4,217) - (9,597)
Net loss (5,493) (35,410) (33,704) (141,345)
Cash Flow Hedge 2,807 (2,121) (371) (6,962)
Income Taxes related
to Cash Flow Hedge (783) 592 104 1,943
Foreign currency
translation 21 4,140 39 10,373
Other comprehensive
income (loss) 2,044 2,611 (229) 5,354
-------- -------- -------- ---------
Comprehensive loss (3,449) (32,799) (33,933) (135,991)
======== ======== ======== =========
Basic & diluted
earnings per share,
EUR - continuing
operations (0.06) (0.22) (0.39) (0.94)
Basic & diluted
earnings per share,
EUR - discontinued
operations (0.00) (0.03) (0.00) (0.07)
Basic & diluted
earnings per share,
EUR - total (0.06) (0.25) (0.39) (1.01)
Weighted average
ordinary shares
outstanding (basic
and diluted) -- in
millions (1) 87.4 140.3 87.3 140.0
(1) In accordance with IAS 33, includes contingently issuable shares that
are fully vested and can be converted at any time for no consideration.
For further details, refer to note 14 in our quarterly report.
LuxExperience B.V.
Unaudited Condensed Consolidated Statements of Financial Position
(Amounts in EUR thousands)
(in EUR thousands) June 30, 2025 March 31, 2026
-------------------------------------- ------------- ----------------
Assets
Non-current assets
Intangible assets and goodwill 156,731 155,928
Property and equipment 55,901 52,002
Right-of-use assets 201,131 177,207
Deferred tax assets 1,683 1,215
Non-current financial assets -- 125,000
Other non-current assets 11,878 20,964
------------ --------------
Total non-current assets 427,323 532,315
------------ --------------
Current assets
Inventories 1,019,539 997,732
Trade and other receivables 96,676 46,359
Other assets 134,766 159,361
Cash and cash equivalents 603,593 311,096
Assets classified as held for sale -- 21,496
------------ --------------
Total current assets 1,854,574 1,536,045
------------ --------------
Total assets 2,281,897 2,068,359
============ ==============
Shareholders' equity and liabilities
Subscribed capital 2 2
Capital reserve 912,039 926,357
Retained earnings 457,192 315,847
Accumulated other comprehensive income
(losses) (4,469) 885
------------ --------------
Total shareholders' equity 1,364,764 1,243,092
------------ --------------
Non-current liabilities
Provisions 4,484 5,306
Lease liabilities 176,718 158,693
Deferred income tax liabilities 11 416
Other non-current liabilities 364 324
------------ --------------
Total non-current liabilities 181,578 164,739
------------ --------------
Current liabilities
Liabilities to banks 10,000 -
Tax liabilities 2,764 1,978
Lease liabilities 32,085 33,207
Contract liabilities 49,343 52,293
Trade and other payables 285,722 212,071
Other current liabilities 346,835 351,885
Current provisions 8,807 9,094
Total current liabilities 735,555 660,529
------------ --------------
Total liabilities 917,133 825,268
------------ --------------
Total shareholders' equity and
liabilities 2,281,897 2,068,359
============ ==============
LuxExperience B.V.
Unaudited Condensed Consolidated Statements of Changes in Equity
(Amounts in EUR thousands)
Retained Foreign
Earnings currency Total
Subscribed Capital (Accumulated Hedging translation shareholders'
(in EUR thousands) capital reserve deficit) reserve reserve equity
------------------- ---------- -------- -------------- ------- ------------- ---------------
Balance as of July
1, 2024 1 546,913 (112,767) -- 1,496 435,643
Net loss -- -- (33,704) -- -- (33,704)
Other comprehensive
loss -- -- -- (268) 39 (229)
---------- ------- --------- --- ------ -------- --- ----------
Comprehensive loss -- -- (33,704) (268) 39 (33,933)
Exercise of share
options -- 1,148 -- -- -- 1,148
Reclassification due
to cash settlement
of share-based
compensation -- (66) -- -- -- (66)
Share-based
compensation -- 13,155 -- -- -- 13,155
---------- ------- --------- --- ------ -------- --- ---------- ---
Balance as of March
31, 2025 1 561,150 (146,471) (268) 1,535 415,948
========== ======= ========= ====== ======== === ========== ===
Balance as of July
1, 2025 2 912,039 457,192 -- (4,469) 1,364,764
Net loss -- -- (141,345) -- -- (141,345)
Other comprehensive
loss -- -- -- (5,019) 10,373 5,354
---------- ------- --------- --- ------ -------- --- ---------- ---
Comprehensive loss -- -- (141,345) (5,019) 10,373 (135,991)
Exercise of share
options -- 2,586 -- -- -- 2,586
Reclassification due
to cash settlement
of share-based
compensation -- (222) -- -- -- (222)
Share-based
compensation -- 11,954 -- -- -- 11,954
---------- ------- --------- --- ------ -------- --- ---------- ---
Balance as of March
31, 2026 2 926,357 315,847 (5,019) 5,904 1,243,092
========== ======= ========= === ====== ======== === ========== ===
LuxExperience B.V.
Unaudited Condensed Consolidated Statements of Cash Flows
(Amounts in EUR thousands)
Nine months ended March 31,
---------------------------------
(in EUR thousands) 2025 2026
-------------------------------------- ---------------- ---------------
Net Loss (33,704) (141,345)
Adjustments for
Depreciation, amortization,
impairment losses and asset
disposals 14,949 44,090
Finance costs, net 4,143 3,501
Share-based compensation 13,155 11,954
Income tax (benefit) expense (8,445) 4,352
Change in operating assets and
liabilities
(Increase) decrease in inventories (2,188) 6,241
(Increase) decrease in trade and
other receivables (1,964) 50,394
(Increase) decrease in other assets 3,084 (36,470)
Increase in other liabilities 20,757 345
Increase in contract liabilities 3,907 2,761
(Decrease) in trade and other
payables (15,600) (68,126)
Income taxes (paid) received (11,975) 459
Interest received - 3,956
------------ ------------
Net cash used in operating activities (13,881) (117,888)
Expenditure for property, equipment and
intangible assets (2,261) (6,684)
Interest received from investments - 1,227
Investment in fixed income securities - (125,000)
------------ ------------
Net cash used in investing activities (2,261) (130,456)
------------ ------------
Interest paid (3,993) (8,586)
Proceeds from (repayments of)
borrowings 25,000 (10,000)
Lease payments (6,882) (29,930)
Proceeds from exercise of option awards 1,148 2,586
Cash settlement of share-based
compensation (66) (222)
------------ ------------
Net cash inflow (outflow) from
financing activities 15,208 (46,152)
------------ ------------
Net decrease in cash and cash
equivalents (934) (294,496)
------------ ------------
Cash and cash equivalents at the
beginning of the period 15,107 603,593
Effects of exchange rate changes on
cash and cash equivalents 68 2,000
------------ ------------
Cash and cash equivalents at end of the
period 14,240 311,096
------------ ------------
View source version on businesswire.com: https://www.businesswire.com/news/home/20260519565999/en/
CONTACT: Investor Relations Contact
LuxExperience B.V.
Stefanie Muenz
phone: +49 89 127695-1919
email: investors@luxexperience.com
Media Contact for business press
LuxExperience B.V.
Lisa Schulz
mobile: +49 151 11216490
email: lisa.schulz@luxexperience.com
(END) Dow Jones Newswires
May 19, 2026 06:00 ET (10:00 GMT)
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