LuxExperience: Mytheresa increases quarterly revenue by 12 percent

Online fashion retailer Mytheresa achieved a double-digit revenue increase in the first quarter of the 2025/26 financial year and significantly improved its earnings. This information was published by parent company LuxExperience B.V. in an interim report on Wednesday. The group also reported progress in integrating the Yoox Net-a-Porter (YNAP) platforms acquired at the end of April.

Mytheresa achieves significant earnings improvement

In the core Mytheresa segment, revenue in the opening quarter, which ended on September 30, amounted to 226.3 million euros. This corresponded to an increase of 12.2 percent compared to the same period last year.

Thanks to revenue growth and an increase in gross margin from 43.9 to 44.6 percent, Mytheresa’s adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) rose to 7.9 million euros. This was more than double the figure for the same period last year, which stood at 2.9 million euros.

Acquisition of Net-a-Porter, Mr Porter and Yoox more than doubles quarterly revenue

Including results from the YNAP business areas acquired in spring, LuxExperience group revenue reached 573.5 million euros in the first quarter. In the same period last year, it amounted to 201.7 million euros.

On a pro-forma basis—including prior-year revenue from newly added areas to be continued—group revenue fell by 4.2 percent to 557.2 million euros. In the luxury segment comprising Net-a-Porter and Mr Porter, pro-forma revenue declined by 10.8 percent to 212.3 million euros; in the off-price segment with Yoox, it shrank by 16.6 percent to 118.6 million euros. Revenue from outlet platform The Outnet, the sale of which was agreed at the end of October, is no longer included in this financial report.

The group’s reported net loss, which stood at 23.5 million euros in the prior-year quarter, increased to 98.5 million euros. Net loss from continuing operations was 85.3 million euros.

CEO Kliger satisfied with recent development

CEO Michael Kliger drew a positive conclusion from recent developments. “I am very satisfied with the strong results and improvements in all three segments,” he said in a statement. “Mytheresa continues to demonstrate our unique ability to achieve strong growth and high profitability despite ongoing macroeconomic challenges.”

He also highlighted progress with the acquired platforms. “Net-a-Porter and Mr Porter are showing clear signs of an economic turnaround that will lead to renewed growth and profitability after years of decline,” Kliger emphasised. “In the off-price segment, we are implementing the promised transformation; I am pleased that we have made a fast start here as well.” The group stated that planned cost-cutting measures at the former YNAP platforms have now been initiated.

Management also updated its forecasts for the current financial year. It now expects a gross merchandise value (GMV) between 2.4 and 2.7 billion euros and an adjusted EBITDA margin in the range of -2 to +1 percent.

This article was translated to English using an AI tool.

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