Luxury group swings to black

LuxExperience reported adjusted net income of 7.8 million euros in Q4, a turnaround from a 2.4 million euro loss a year earlier.

“We are very pleased that we have group sales growth and profitability.”

Full year swings 64 million euros

For the fiscal year ended June 30, the company reported 11 million euros in adjusted EBITDA, a 64 million euro improvement from a loss the prior year.

Mytheresa keeps crushing it

Mytheresa grew 11.5 percent for the full year with a 6.3 percent adjusted EBITDA margin and 62 million euros in profit, 40 percent more than the prior year.

“The story is absolute continued gold standard performance.”

Net-a-porter returns to growth

Net-a-porter and Mr Porter combined grew 5.6 percent in Q4 with a 2.7 percent EBITDA margin, marking the first profitable quarter since LuxExperience's acquisition.

“Net-a-porter and Mr Porter are back, growing, and profitable.”

Yoox posts first growth quarter

Yoox grew 6.6 percent in Q4, its first growth quarter since the acquisition, and halved its annual loss to 45.5 million euros from nearly 80 million euros.

“The business grew 6.6 percent, marking the first time since the acquisition that we have growth.”

Sales growth accelerates next year

LuxExperience expects mid to high single-digit sales growth and a 2 to 3 percent EBITDA margin in the next fiscal year, up from 0.4 percent this year.

“We expect midsingle to high-single-digit growth in net sales for the group overall.”

Exemplar disruptions helped gains

CEO Michael Kliger said Neiman Marcus and Saks Fifth Avenue's operational challenges and stock shortages contributed to LuxExperience's U.S. gains.

“It definitely played a role because in addition to operational challenges, they did not have enough stock.”

Top brands driving performance

Alaia, Brunello Cucinelli, Phoebe Philo, Khaite, Dolce & Gabbana and Zegna led across the platform, while Fendi, Bulgari and Piaget joined Mytheresa.