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LVLU Nasdaq· Lulus Fashion Lounge Holdings Inc
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LVLU Nasdaq· Lulus Fashion Lounge Holdings Inc
Earnings report Q4 2023

LULU's Fashion Lounge Holdings, Inc. Reports Decrease in Revenue for the Latest Quarter

Segments of revenue

LULU's Fashion Lounge Holdings, Inc. reported a net revenue of $83.12 million for the thirteen weeks ended October 1, 2023, compared to $105.28 million for the same period in the previous year. For the thirty-nine weeks ended October 2, 2022, the company's net revenue was $280.22 million, down from $348.69 million in the previous year.

Strengths

Despite the decrease in revenue, LULU's Fashion Lounge Holdings, Inc. experienced strong customer demand for dresses and event wear in the first and second fiscal quarters of 2022, which contributed to higher net revenue during that period. The company's management commented that this trend continued from 2021, indicating a resurgence of events and special occasions.

Challenges

The decrease in net revenue for the latest quarter was primarily attributed to a loss before provision for income taxes. The company faced challenges in the third and fourth fiscal quarters of 2022 due to a worsened macroeconomic environment, leading to lower consumer spending levels and increased demand for promotions and discounts.

Noteworthy

LULU's Fashion Lounge Holdings, Inc. experienced moderate seasonal fluctuations in aggregate sales volume throughout the year. However, the seasonality in their business does not follow the traditional concentration of revenue in the holiday quarter, unlike other retailers.

Summary

LULU's Fashion Lounge Holdings, Inc. reported a decrease in net revenue for the latest quarter, primarily due to a loss before provision for income taxes. The company's strengths lie in strong customer demand for dresses and event wear, which contributed to higher net revenue in the first and second fiscal quarters. However, challenges were faced in the third and fourth fiscal quarters due to a worsened macroeconomic environment. The company's performance reflects moderate seasonal fluctuations in sales volume, deviating from the typical revenue concentration in the holiday quarter.

Source documents

Form 10-Q  filed on Nov 08, 2023
7 pages scanned

Reference data

Company financials Q4 revenue 83.1M
Analyst estimates Q4 EPS beat by 53.85%
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