Lulu’s Fashion Lounge sees Q2 revenue $90.5M-$91.5M, consensus $102.82M

Sees adjusted EBITDA to be between approximately ($0.9M) to ($0.2M) compared to $4.2M in the same period last year. A pre-tax loss of between approximately $5.2M to $4.M is expected, compared to $1.7M in the same period last year. Pre-tax loss estimates are provided as we have not completed our standard review of our quarterly income tax provision.”In response to sustained consumer weakness and in anticipation of continued macroeconomic challenges, we have proactively reduced fixed labor and operational costs and optimized variable marketing expenditures to align with current sales volumes. While we remain confident in our strategic investments and their near and long-term benefits, we anticipate a prolonged recovery given the broader economic context. Our focus remains on maintaining an aggressive operational framework that balances agility with the necessary organizational infrastructure to best serve our customers and benefit our investors. We anticipate realizing savings from these actions in the third and fourth quarter of 2024, extending through 2025. We are optimistic about our continued sales recovery and business turnaround and are encouraged by sequential improvements in our quarterly revenue comps. More importantly, we are confident in our strategic direction and ability to deliver value over time.”