The online fashion retailer Mytheresa was able to achieve a double-digit increase in sales in the first quarter of the 2025/26 financial year and significantly improve its earnings. This emerges from an interim report that the umbrella company LuxExperience BV published on Wednesday. The group also reported progress in integrating the Yoox Net-A-Porter (YNAP) platforms, which were acquired at the end of April.
Mytheresa achieves significant improvement in results
In the core Mytheresa segment, sales in the first 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 sales growth and an increase in the gross margin from 43.9 to 44.6 percent, Mytheresa’s earnings before interest, taxes, depreciation and amortization (EBITDA) adjusted for special effects increased to 7.9 million euros. This means it was more than twice as high as in the same period last year, when it was 2.9 million euros.
The acquisition of Net-A-Porter, Mr Porter and Yoox more than doubled quarterly sales
Including the results of the YNAP business areas acquired in the spring, LuxExperience’s consolidated sales reached 573.5 million euros in the first quarter. In the same period last year it was 201.7 million euros.
On a pro forma basis – i.e. including the previous year’s sales of the newly added areas that are to be continued – group sales fell by 4.2 percent to 557.2 million euros. In the luxury segment with the Net-A-Porter and Mr Porter platforms, revenues fell on a pro forma basis by 10.8 percent to 212.3 million euros, while in the off-price segment with the Yoox platform they shrank by 16.6 percent to 118.6 million euros. The sales of the outlet platform The Outnet, the sale of which was agreed at the end of October, are no longer taken into account in this annual report.
The group’s reported net loss, which was 23.5 million euros in the same quarter of the previous year, increased to 98.5 million euros. The net loss from continuing operations was 85.3 million euros.
CEO Kliger is satisfied with the latest developments
CEO Michael Kliger drew a positive conclusion from the latest developments. “I am very pleased with the strong results and improvements in all three segments,” he said in a statement. “Mytheresa continues to demonstrate our unique ability to deliver strong growth and profitability despite ongoing macroeconomic challenges.”
He also highlighted progress on the acquired platforms. “Net-A-Porter and Mr Porter are showing clear signs of an economic turnaround that will lead to new growth and profitability after years of decline,” emphasized Kliger. “We are implementing the promised transformation in the off-price segment, and I am pleased that we have gotten off to a quick start here too.” The group explained that the planned cost-cutting measures for the former YNAP platforms had now been initiated.
Management also updated its forecasts for the current financial year: It now expects a gross merchandise value (GMV) of between 2.4 and 2.7 billion euros and an EBITDA margin adjusted for special effects in the range of -2 to +1 percent.