Net-a-Porter shows signs of improvement, but warehouse strike threatens disruption

Net-A-Porter’s parent company LuxExperience has shared that the luxury online retailer is showing signs of improvement as it continues a strategic restructuring, yet strike action today and tomorrow at a London warehouse could spark disruption.

LuxExperience, the parent company of luxury fashion retailers Net-A-Porter, Mr Porter, Yoox and Mytheresa, reported stable sales and continued profitability for the third quarter ended 31 March 2026 and confirmed its full FY26 guidance.

Michael Kliger, Chief Executive Officer of LuxExperience, said the group was "very pleased with the results" and that they showed "significant improvements on many KPIs across all three business segments", which underlined "the successful execution of our transformation plan."

The transformation plan included a partial reduction in its workforce across several sites, the group shared.

For the Net-A-Porter and Mr Porter businesses, the group shared that "further improvements" had been made, with a strategic focus on "customer service, full-price selling and cost discipline."

In Q3, Net-A-Porter reported a decrease in net sales of -5.1% to €231.6 million, on a constant currency basis. Its adjusted EBITDA also saw a slight decrease of -€1.1 million in Q3.

Kliger commented on the results: "Net-A-Porter and Mr Porter as well as Yoox showed further sequential improvements, fully in line with our ongoing transformation plan for both segments."

Yet strike action today and tomorrow at the Net-A-Porter warehouse in Charlton, in a dispute over the London Living Wage, which started in March.

The dispute arose after Net-A-Porter, which wholly owns the Charlton warehouse, reportedly promised workers the London Living Wage in 2021. Since then, however, the retailer has offered workers lower pay, according to the trade union GMB.

In an open ballot that closed at the end of March, almost three-quarters of the nearly 100 GMB union members voted for strike action.

It has now been confirmed that today and Thursday, 100 distribution workers are walking out of the warehouse, potentially causing serious disruption, according to GMB.

Craig Prickett, GMB Regional Organiser, said: "Industrial action is always a last resort and a cry for help.

"Our members want a fair resolution, and we would welcome the company coming back to the table with an offer we can present to the workforce, one that meets the expectations set by Net-a-Porter’s own previous commitments."

A spokesperson for LuxExperience commented: "LuxExperience acknowledges and fully respects our employees' right to take industrial action. Our priority remains that we recognize the vital contribution of our employees and remain open to engaging in constructive dialogue with union representatives as we navigate the next steps in this process, whilst ensuring we protect the long-term sustainability of our business."

In Q3, the LuxExperience group reported stable results despite geopolitical pressures, with net sales flat at €618.4 million (about £538 million) on a constant-currency basis compared with the same period in 2025.

It also reported positive adjusted EBITDA profitability for the second consecutive quarter, highlighting that the Mytheresa business continued to outpace the market in terms of growth and showed improved profitability. The online retailer reported a 9.9% net sales growth on a constant currency basis to €256 million (£221 million), with its adjusted EBITDA increasing by 50.4%.