LuxExperience Q2 Results Point to Turnaround Efforts Working

LuxExperience in the second fiscal quarter demonstrated top-line growth and improved profitability for the first time since the company was formed through Mytheresa’s acquisition of Yoox Net-a-porter. “The turnaround has started and it’s really the result of cost cutting,” Michael Kliger, chief executive officer of LuxExperience, told WWD. “In the aggregate, we are growing and we are profitable, which we believe is a big achievement knowing that we bought businesses that were money-losing.” More from WWD ...