Revolve Group reports Q4 EPS 5c, consensus 2c

Reports Q4 revenue $257.78M, consensus $246.38M. “I’m proud of our team’s accomplishments in 2023 that set us up well for 2024,” said co-founder and co-CEO Mike Karanikolas. “Despite the challenging backdrop for consumer discretionary spending, we closed out the year with a solid fourth quarter that included improved sales trends, year-over-year expansion of our gross margin and early progress on selling and distribution cost efficiencies.” “Our profitable and cash generative business remains a key competitive advantage that has enabled us to invest in longer-term growth initiatives throughout the cycle at a time when many industry peers have no choice but to significantly reduce investment,” said co-founder and co-CEO Michael Mente. “Our focus on maximizing value creation over the long-term is supported by investments in our brands, technology and operations as well as delivering value to stockholders through our $100M stock repurchase program.”