Lulu’s Fashion Lounge Holdings, Inc. ( (LVLU) ) has released its Q3 earnings. Here is a breakdown of the information Lulu’s Fashion Lounge Holdings, Inc. presented to its investors.
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Lulu’s Fashion Lounge Holdings, Inc., commonly known as Lulus, is a women’s fashion brand specializing in affordable luxury apparel, focusing on modern and feminine designs for all occasions, from casual wear to bridal attire. In its third-quarter earnings report for 2024, Lulus reported a net revenue of $80.5 million, reflecting a 3% decrease year-over-year. This decline was attributed to a decrease in total orders and average order value. The quarter saw a rise in special occasion and bridesmaid dress sales, counterbalanced by weaker performance in casual wear. The company took strategic steps to manage inventory, resulting in a 7% reduction compared to a year-over-year revenue decline, impacting gross margins but aiming to sustain demand. Key financial highlights showed a gross profit down by 9% to $30.6 million, with a net loss widening to $6.9 million from $3.9 million the previous year. Active customer numbers also fell by 10% compared to the previous year. Lulus is focused on strategic initiatives and cost reductions, looking to secure more flexible financial options for long-term growth. Looking forward, Lulus projects fourth-quarter revenue between $67.5 million and $70.0 million, with full-year 2024 revenue expected between $317.5 million and $320 million, reflecting strategic efforts to enhance liquidity and align product offerings with market demand.
