LuxExperience continues to show progress in the turnaround efforts necessitated by last year’s Yoox Net-a-porter acquisition.
On Tuesday, Munich-based LuxExperience Group reported improved profitability, full-price selling, better margins and heightened cost savings through streamlining over the fiscal third quarter ended March 31
LuxExperience operates the Mytheresa, Net-a-porter and Mr Porter luxury e-commerce websites as well as the Yoox off-price e-commerce website. More from WWD Net sales for the quarter reached 618 million euros at constant currency, which was flat to last year’s quarter. Gross merchandise sales grew 0.3 percent, at constant currency, to 654 million euros.
Net losses tallied 31.2 million euros; adjusted net losses were 15.3 million euros. Main adjustments centered on staff severance payments, costs for closed facilities and discontinued technology services. Adjusted EBITDA reached 5.7 million euros with an adjusted EBITDA margin of 0.9 percent.