THE WHAT? LuxExperience reported Q1 FY26 results showing strong momentum at Mytheresa and early restructuring progress across NET-A-PORTER, MR PORTER and YOOX.
THE DETAILS 4.2% to €557.2 million, reflecting the initial impact of the company’s transformation programme. Mytheresa delivered +13.5% GMV and +12.2% Net Sales growth, with Adjusted EBITDA more than doubling to €7.9 million and margin rising to 3.5%.
NET-A-PORTER and MR PORTER saw GMV drop 10.8%, but gross margin improved (47.8%) and SG&A fell, signalling early progress in the turnaround plan. YOOX continued its expected decline (-19.3% GMV) as the off-price unit focuses on core operations, though margins improved as costs were reduced. The group also agreed to sell the assets powering THE OUTNET, due to close in Q1 CY26, allowing LuxExperience to centralise off-price around YOOX.
US shoppers accounted for 31.6% of Net Sales. Updated FY26 guidance forecasts €2.4–€2.7 billion GMV and an Adjusted EBITDA margin between -2% and +1%.
THE WHY? The quarter underscores Mytheresa’s role as the group’s growth engine while LuxExperience works to streamline operations and stabilise performance following the YNAP acquisition.
Source: Businesswire
