LuxExperience (NYSE:LUXE) signaled that its ambitious "open-heart surgery" on the global luxury e-commerce sector is beginning to bear fruit.
Reporting its second quarter of fiscal year 2026 on Tuesday, February 10, 2026, the Munich-based group announced a return to group-level profitability and its first period of top-line growth since the transformative merger of Mytheresa and YOOX NET-A-PORTER (YNAP) in 2025.
The group posted net sales of €645.1 million, a 1.1% increase on a reported basis and a robust 5.7% jump when excluding foreign exchange fluctuations.
More importantly for investors, LuxExperience achieved an adjusted EBITDA margin of 2%, marking a definitive turnaround from the heavy losses sustained during the initial integration and restructuring phase.
The company also generated a healthy positive cash flow from operating activities of €118.5 million.
The star of the portfolio remains Mytheresa, which continues to defy the broader luxury slowdown.
The banner reported an "outstanding" Gross Merchandise Value (GMV) growth of 12.7% (ex-FX) and saw its adjusted EBITDA surge 40% year-over-year.
Meanwhile, the restructuring of the "ex-YNAP" banners showed early promise; Net-A-Porter and Mr Porter narrowed their sales declines significantly compared to the previous quarter, aided by a 180-basis-point reduction in administrative costs as the group streamlines its back-end infrastructure.
CEO Michael Kliger confirmed that the results keep the company firmly on track to hit its medium-term targets of €4 billion in net sales and an adjusted EBITDA margin between 7% and 9%.
While the off-price segment, led by Yoox, remains a "work in progress," the recent divestment of THE OUTNET has allowed the group to focus resources on its high-margin luxury pillars.