LuxExperience B.V. (NYSE:LUXE) reported disappointing fiscal first-quarter 2026 results on Wednesday, as strong momentum at Mytheresa was unable to offset deeper losses in the company’s other divisions. Shares fell 7.65% in pre-market trading after the release.
The group posted a loss of €0.61 per share, far wider than analyst expectations of a €0.25 loss, while revenue came in at €573.5 million, missing the €589.75 million consensus estimate.
Performance varied sharply across LuxExperience’s three operating segments. Mytheresa remained the bright spot, with net sales rising 12.2% YoY to €226.3 million and Adjusted EBITDA more than doubling to €7.9 million, lifting its margin to 3.5% from 1.4% a year earlier. Still, Mytheresa’s gains were not enough to counter continued weakness elsewhere.
CEO Michael Kliger expressed confidence in the strategic progress across the portfolio, stating, “I am very pleased with the strong results and improvements across all three segments. Mytheresa continues to demonstrate our unique ability to deliver strong growth and profitability despite ongoing macro headwinds.”
The luxury segment housing NET-A-PORTER and MR PORTER showed signs of stabilization but still reported an 10.8% drop in net sales to €212.3 million and a negative Adjusted EBITDA of €14.6 million.
Meanwhile, the YOOX off-price division posted a 16.6% decline in net sales to €118.6 million alongside a negative Adjusted EBITDA of €21.4 million.
At the consolidated level, LuxExperience recorded a 4.2% YoY decline in net sales on an illustrative basis and an Adjusted EBITDA margin of -5.0%.
The company also revealed plans to sell the technology and assets behind THE OUTNET for $30 million to The O Group LLC, a deal expected to close in Q1 FY26. Following the transaction announcement, management updated full-year FY26 expectations, now projecting GMV of €2.4–€2.7 billion and an Adjusted EBITDA margin between -2% and +1%.
Despite the challenging quarter, LuxExperience highlighted encouraging customer trends, including a 15% increase in GMV per top Mytheresa customer and double-digit average order value growth across all business units.