LuxExperience (0FV) Q4 2026 Earnings Report
DE:0FV Q4 2026 EPS Results
- Actual EPS
- -EUR 0.18
- Consensus EPS
- -EUR 0.08
- Beat/Miss
- Missed by -EUR 0.10
- One Year Ago EPS
- -EUR 0.29
DE:0FV Q4 2026 Revenue Results
- Actual Revenue
- EUR 691.08M
- Expected Revenue
- EUR 633.33M
- Beat/Miss
- Beat by +EUR 57.75M
- YoY Revenue Growth
- +15.85%
Earnings Announcement Details
- Quarter
- Q4 2026
- Date
- 09/16/2026
- Time
- Before Open
- Conference Call
- Wednesday, September 16, 2026
LuxExperience's next earnings date is estimated for November 17, 2026, based on past reporting schedules.
Q4 2026 Earnings Call Audio
Q4 2026 Earnings Slide Deck
Q4 2026 Earnings Call Summary
The call was strongly positive, with management highlighting delivery of fiscal 2026 guidance, a return to group adjusted EBITDA break-even, strong Q4 growth, major cost reductions, and meaningful turnarounds at NET-A-PORTER, MR PORTER, and YOOX. The principal challenges were YOOX's full-year revenue decline and continuing losses, uneven regional demand, warehouse shipping backlogs, expected seasonality, and additional cash burn required for the transformation. The positive achievements and outlook significantly outweighed the stated challenges.
For fiscal year 2027, LuxExperience expects to grow mid to high single digit at group level for fiscal year 2027 in total, with an adjusted EBITDA margin at around 2%-3%; Mytheresa is expected to deliver continued high single digit to low double-digit growth and adjusted EBITDA profitability slightly better than in full fiscal year 2026, NET-A-PORTER is expected to deliver continued growth top line, mid-single digit, and around 100 to 200 basis points adjusted EBITDA margin improvement compared to full fiscal year 2026, not compared to Q4, and YOOX is expected to deliver mid-single digit top-line growth, with the adjusted EBITDA margin remaining negative in the mid-single digit range, while reaching adjusted EBITDA break even at YOOX in fiscal year 2028. For the current fiscal Q1, the group expects high single-digit net sales growth and a just slightly negative adjusted EBITDA margin; beyond fiscal year 2027, it expects 10%-15% CAGR in the next years and an annual 150 to 250 basis points increase in adjusted EBITDA profitability until reaching 7%-9% adjusted EBITDA margin medium-term at EUR 4 billion net sales, with another EUR 150 million-EUR 250 million total cash burn and a significant cash buffer during and after the transformation of a minimum of around EUR 200 million-EUR 300 million without adding any cash utilization of our RCFs.
- Group Delivered FY2026 Guidance and Returned to ProfitabilityLuxExperience achieved full-year fiscal 2026 GMV growth of +2.9% at constant currency and a positive group-adjusted EBITDA margin of +0.4%. Compared with fiscal 2025, including capitalized technology expenses, group-adjusted EBITDA increased by EUR 64 million.
- Strong Fourth-Quarter Group MomentumFiscal Q4 net sales grew by +7.6% at LuxExperience, the strongest quarterly growth of fiscal 2026. Group GMV increased by +7.9% at constant currency, adjusted EBITDA margin reached +2.1%, and all three reporting segments delivered positive top-line growth.
- Significant Cost Savings and Improving Cash PositionFull-year SG&A expenses declined by approximately EUR 55 million, or -9.9%. In Q4, the group SG&A cost ratio improved by 400 basis points from 21.6% to 17.6%. Fourth-quarter operating cash flow was positive at EUR 9 million, while full-year operating cash burn of EUR 108 million was better than the previously communicated maximum of EUR 120 million. The group ended the year with no bank debt and EUR 442 million in cash and cash investments.
- Mytheresa Reached EUR 1 Billion in Net SalesMytheresa became a EUR 1 billion business in fiscal 2026. Net sales increased by +10.2% at constant currency in Q4 to EUR 269.2 million and by +11.5% for the full year to EUR 994.3 million.
- Mytheresa Delivered Double-Digit Growth and Higher ProfitabilityMytheresa's Q4 adjusted EBITDA margin increased to 6.6% from 6.5%, while the full-year margin improved from 4.9% to 6.3%. Full-year adjusted EBITDA rose +39.8% to a record EUR 62.3 million. Gross profit margin increased by 150 basis points to 49.7% in Q4 and to 48.5% for the full year, driven by the focus on full-price selling.
- Mytheresa U.S. Growth and Customer Economics StrengthenedMytheresa's U.S. net sales grew +39.3% at constant currency in Q4, with the U.S. representing 23.8% of full-year net sales. The number of top customers increased +18% year over year in Q4, average GMV spend per top customer rose +4.8% in Q4 and +4.3% for the full year, and average order value increased +13.1% to a record EUR 875.
- Mytheresa Maintained High Customer Engagement and Brand ActivityTop customers represented 4.8% of customers but 48.4% of total GMV in fiscal 2026. Mytheresa reported an internal NPS of 83.6% in Q4, launched 11 exclusive capsule collections and four exclusive pre-launch or exclusive-style campaigns, added digital partnerships with Fendi and Piaget, and hosted more than 14 global top-customer events and six exclusive brand events.
- NET-A-PORTER and MR PORTER Achieved a Q4 TurnaroundFor the first time since the acquisition, NET-A-PORTER and MR PORTER combined delivered positive top-line growth and positive bottom-line results in Q4. Net sales increased +5.6% at constant currency to EUR 273.9 million, while full-year net sales increased +0.5% to EUR 994.8 million.
- Luxury Segment Margins and Cost Structure ImprovedNET-A-PORTER and MR PORTER's full-year gross profit margin increased 170 basis points from 45.9% to 47.5%. Q4 SG&A cost ratio improved 500 basis points year over year from 24.5% to 19.5%, representing EUR 29.8 million of full-year SG&A savings, or -11% of the cost base. Q4 adjusted EBITDA margin was positive at 2.7%, up 230 basis points year over year, and H2 margin was +1.2% versus -2.5% in H1.
- Luxury Segment Customer Economics and U.S. Performance ImprovedThe number of top customers increased +3.2% sequentially from Q3, average GMV spend per top customer rose +9.4% year over year in Q4 and +5.3% for the full year, and average order value increased +9.1% to EUR 885. U.S. net sales increased +15.1% at constant currency in Q4, with the U.S. accounting for 49.6% of full-year segment net sales.
- NET-A-PORTER and MR PORTER Expanded Editorial and Brand ActivationsThe segment launched 36 editorial campaigns for exclusive brand and product launches. NET-A-PORTER hosted 11 EIP experiences and its PORTER cover stories generated a reach of 194 million in Q4. MR PORTER hosted six EIP experiences, while its journal stories generated more than 13 million views.
- YOOX Q4 Growth and Loss ReductionYOOX net sales increased +6.6% at constant currency in Q4 to EUR 110.5 million, marking a return to quarterly top-line growth. Its Q4 adjusted EBITDA margin improved to -10.5% from -19.8%, a 920-basis-point improvement, while SG&A expenses declined 20% year over year.
- YOOX European Core Market Strategy Showed ProgressYOOX net sales in Europe excluding the U.K. increased +22.7% in Q4 and +10.9% for the full year, representing 61.3% of total YOOX net sales for fiscal 2026. Average spend per top-spending customer increased +12.3%, and the full-year gross profit margin increased 120 basis points to 38.5% as a result of a more demand-driven pricing system and a higher share of first-price sales.
- YOOX Customer Satisfaction and Brand Engagement IncreasedYOOX's internal NPS reached 49.1% in Q4, increasing by 1,520 basis points year over year. Its 26th-anniversary activations generated more than 30 million estimated social-media reach, almost 550,000 campaign-page visits, and nearly 1,000 new customer registrations.
- Transformation and Technology Programs ProgressedThe company completed the sale-related transition services agreement for THE OUTNET at the end of July 2026, allowing resources to focus on YOOX's core off-price business. HRS was introduced globally in May, the NET-A-PORTER and MR PORTER ERP system was upgraded to Business Central and went live, and management said the webshop migration was progressing very well and was fully in line or slightly ahead of schedule.
- Positive Fiscal 2027 and Medium-Term OutlookFor fiscal 2027, LuxExperience expects group net sales growth in the mid to high single digits and an adjusted EBITDA margin of around 2%-3%. Segment expectations include continued high single-digit to low double-digit growth at Mytheresa, mid-single-digit growth at NET-A-PORTER and MR PORTER, and mid-single-digit top-line growth at YOOX. Beyond fiscal 2027, the company expects 10%-15% CAGR and annual adjusted EBITDA profitability increases of 150 to 250 basis points until reaching a 7%-9% margin at EUR 4 billion of net sales.
- Share Repurchase Authorization and Expanded Banking FacilityManagement received authorization on September 3rd for a potential ADR share repurchase program, which had not been implemented as of the call. Citibank joined the company's strategic banking partners, and the banking RCF increased by EUR 25 million to EUR 125 million.
DE:0FV Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Nov 17, 2026 | 2027 (Q1) | -0.13- | -0.61 | ― | ― |
| Sep 16, 2026 | 2026 (Q4) | -0.08-0.18 | -0.29 | 37.93% (+0.11) | |
| May 19, 2026 | 2026 (Q3) | -0.12-0.17 | 0.07 | -358.46% (-0.23) | |
| Feb 10, 2026 | 2026 (Q2) | -0.080.09 | 0.12 | -31.45% (-0.04) | |
| Nov 19, 2025 | 2026 (Q1) | -0.25-0.61 | 0.06 | -1100.00% (-0.67) | |
| Sep 25, 2025 | 2025 (Q4) | 0.03-0.29 | 0.05 | -647.17% (-0.34) | |
| May 14, 2025 | 2025 (Q3) | 0.000.07 | 0.05 | 25.00% (+0.01) | |
| Feb 11, 2025 | 2025 (Q2) | 0.060.12 | 0.04 | 226.32% (+0.09) | |
| Nov 19, 2024 | 2025 (Q1) | -0.060.06 | -0.04 | 264.86% (+0.10) | |
| Sep 12, 2024 | 2024 (Q4) | 0.060.05 | 0.01 | 960.00% (+0.05) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
