Revolve Group reports Q1 EPS 19c, consensus 15c

Reports Q1 revenue $279.61M, consensus $290.71M. "We achieved excellent progress on rebalancing our inventory position and generated exceptional cash flow in the first quarter, despite a macroeconomic environment that became increasingly challenging as the quarter progressed, leading to deceleration in our net sales momentum," said co-CEO Mike Karanikolas. "Supported by our strong profitability and cash flow that truly stand out within the fashion e-commerce sector, we are continuing to innovate and leverage new technologies while executing on several important growth, brand-building and efficiency initiatives that we believe will further strengthen our foundation for profitable growth over the long term," said co-CEO Michael Mente.