LuxExperience B.V. (NYSE:LUXE) said on Tuesday that it returned to profitability in the second quarter of fiscal 2026, as modest top-line growth and improving margins marked progress in its ongoing turnaround. Net sales rose 1.1%, or 5.7% excluding currency effects, to €645.1 million from €638.0 million a year earlier.
The luxury multi-brand online retailer outperformed market expectations, posting a quarterly loss of $0.05 per share, narrower than the $0.07 loss analysts had forecast. Shares were up 0.52% in pre-market trading following the announcement.
Operationally, the group delivered a positive adjusted EBITDA of €13.2 million, corresponding to a 2.0% margin, a notable improvement from prior quarters and a key milestone in its restructuring efforts. The company said the result keeps it on course to meet its medium-term targets of €4 billion in net sales and an adjusted EBITDA margin of 7–9%.
Mytheresa was the clear standout within the portfolio, reporting GMV growth of 12.7% excluding FX (9.9% reported) to €268.9 million. Adjusted EBITDA at the brand jumped 40%, lifting margins to 9.3% from 7.3% in the same period last year.
NET-A-PORTER and MR PORTER also showed signs of stabilization, with net sales down just 1.0% and GMV off 1.9%, a marked improvement from the 10.8% decline recorded in the first quarter.
“We are extremely pleased with the results of the second quarter. The initiated turnaround at ex-YNAP already shows good results with growth and a return to adjusted EBITDA profitability at Group level,” said Michael Kliger, CEO of LuxExperience.
The group generated positive operating cash flow of €118.5 million during the quarter and reduced adjusted SG&A expenses, with the cost ratio improving by 180 basis points in Q2 FY26.
LuxExperience also tightened its full-year outlook, now guiding for GMV of €2.5 billion to €2.7 billion, compared with a prior range of €2.4 billion to €2.7 billion. It expects an adjusted EBITDA margin between -1% and +1%, narrowing the earlier forecast of -2% to +1%.
The company said it remains focused on executing its transformation plan, which includes workforce reductions across multiple locations, infrastructure consolidation and a major technology migration, with the first significant milestones anticipated in calendar year 2026.