LuxExperience (LUXE) Q3 2026 Earnings Transcript

Motley Fool Transcribing, The Motley Fool

Tue, May 19, 2026 at 3:15 PM EDT 41 min read

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Date

Tuesday, May 19, 2026 at 8 a.m. ET

Call participants

• Chief Executive Officer — Michael Kliger

• Chief Financial Officer — Martin Beer

Full Conference Call Transcript

Michael Kliger: Thank you, Martin. Also from my side, a very warm welcome to all of you, and thank you for joining our call. We will comment today on the results and performance of the third quarter of fiscal year 2026 of LuxExperience. We are very pleased with the results of the third quarter. We are making great progress with the ongoing transformation as a group. We achieved a GMV growth of plus 0.3% at constant currency in the third quarter, despite the outbreak of war in the Middle East in March. We also achieved a profitability at group level of plus 0.9% in adjusted EBITDA margin which is the second profitable quarter in a row.

Finally, we achieved again significant improvements on many KPIs across all three business segments underlining the successful execution of our transformation plan. We are fully on track and will achieve our guided results for the full fiscal year 2026. Our success story with our Mytheresa business continues as we outpaced the market in terms of growth and further improved our profitability despite the geopolitical headwinds in March which, in the meantime, have subsided for our resilient customers base. We also saw further improvements at NET-A-PORTER and MR PORTER, driven by the new strategic focus on customer service, full price selling and cost discipline.

At YOOX, our strategy focusing on the healthy core of the business and the good progress in implementing a leaner operating model continues to show clear results in line with our expectations. In addition to our guidance for fiscal year 2026, we, therefore, also confirm our medium-term target for the group, with net sales of EUR 4 billion, and an adjusted EBITDA margin of 7% to 9%. Just to provide context for the EUR 4 billion net sales medium-term target, the most recent Bain and Altagamma report estimates the global online luxury market at EUR 75 billion. Overall, LuxExperience is the clear digital multibrand 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. Before reviewing the performance of the third quarter further, I also want to mention that we have successfully closed the sale of the set of assets powering the Outnet on April 30, following the binding agreement announced last October. We are very confident to have found the right new home for the outlet and we now are able to solely focus on our YOOX business in off-price. Let me now comment on the performance of the Mytheresa business in more detail.