LuxExperience Returns to Growth as Luxury Shoppers Drive Sales Surge
Paris, Wednesday, 16 September 2026.
LuxExperience reported strong fourth-quarter sales growth of 7.6%, driven by high-spending luxury shoppers, while posting positive operating profits and authorizing a $50 million share buyback.
Quarterly Financial Performance and Profitability Recovery
LuxExperience (NYSE:LUXE) reported consolidated net sales of €653.6 million for the fourth quarter of fiscal year 2026, representing a 6.1% increase on a reported basis compared to the same period in the prior year [1][3]. Excluding foreign exchange fluctuations, the top-line growth accelerated to 7.6%, signaling resilient demand in the global luxury sector despite macroeconomic headwinds [3][7]. This performance marks a significant turnaround in profitability, with Adjusted EBITDA reaching €13.6 million for the quarter, resulting in a margin of 2.1% [6][7]. This positive Adjusted EBITDA result marks the third consecutive quarter of profitability for the group, underscoring the effectiveness of recent operational adjustments [3][7].
For the full fiscal year ended June 30, 2026, the company achieved total net sales of €2.47 billion, with acquisition-adjusted SG&A expenses decreasing by €55 million, or 9.9%, compared to fiscal year 2025 [6][7]. The reduction in expenses implies a prior year expense base calculated via 555.556 million, highlighting the scale of the cost transformation plan implemented during the period [3]. Management attributes this efficiency to a streamlined cost structure, with the Adjusted SG&A cost ratio dropping to 17.6% in Q4 FY26 from 21.9% in Q1 FY26 [3][7]. Cash and cash investments stood at €442.7 million as of June 30, 2026, maintaining a bank debt-free balance sheet [1][3].
Segment-Level Dynamics and Customer Economics
Performance across the group’s three core segments showed broad-based growth in the fourth quarter [3]. The Luxury | Mytheresa segment led with net sales growth of 10.2% ex-FX, while Luxury | NAP & MRP grew by 5.6% ex-FX and Off-price | YOOX increased by 6.6% ex-FX [1][7]. Notably, the NAP & MRP segment delivered positive Adjusted EBITDA for the first time since the acquisition, contributing to the group’s overall profitability recovery [6][7]. The YOOX segment also showed improvement, narrowing its Adjusted EBITDA margin loss by 920 basis points year-over-year [6].
Customer economics remained a key driver of value, with top customers representing a disproportionate share of Gross Merchandise Value (GMV) [3]. In FY26, top customers accounted for 48.4% of GMV at Mytheresa and 49.1% at NAP & MRP, despite representing only 4.8% and 4.3% of the customer base respectively [3][7]. GMV per top customer grew by 4.8% at Mytheresa and 9.4% at NAP & MRP in Q4 FY26 compared to the prior year period [1][3]. However, active customer counts declined across segments, with Mytheresa active customers decreasing 6.0% to 774,000 on a last-twelve-months basis as of June 30, 2026 [3][7].
Capital Allocation and Strategic Outlook
In a move to return value to shareholders, management received authorization for a share repurchase program of up to $50 million of American Depositary Receipts (ADRs) on September 3, 2026 [1][6]. This authorization is subject to market conditions and regulatory requirements, with no specific execution deadline provided [3][7]. Looking ahead to fiscal year 2027, LuxExperience projects net sales growth in the mid-single-digit to high-single-digit percentage range [3][5]. The company forecasts an Adjusted EBITDA margin of approximately 2% to 3% for FY27, aiming to build on the momentum gained in the second half of FY26 [5][7].
Medium-term targets remain unchanged, with the company aiming for €4 billion in group net sales and an Adjusted EBITDA margin of 7% to 9% [3][6]. Management expects annual margin increases of 150 to 250 basis points following fiscal year 2027 as transformation plans mature [3][7]. CEO Michael Kliger stated that the strength of the businesses is based on resilient business models and superior customer economics, confirming the company is on track to meet these medium-term targets [3][7]. The company filed its Form 20-F with the SEC on September 16, 2026, detailing risk factors relevant to future financial results [3][7].