Lulu’s Fashion Lounge reports Q3 EPS (10c), consensus (6c)

Reports Q3 revenue $83.12M, consensus $86.29M. “In the third quarter of 2023, we continued to see the impact of macroeconomic headwinds on consumer spending and purchasing behavior, which impacted our financial results. Our year-over-year net revenue comparison was primarily affected by the redirection of performance marketing investments towards markdowns and promotional pricing, as well as by overall softness in our more basic product offering. While the results fell short of our expectations, our customers’ demand for our new and ‘must have’ novelty items is a positive indicator for our future reorder business. Our team continues to expeditiously adjust to dynamic market changes and further optimize inventory turnover amidst a complex and fluctuating macroeconomic environment.”