Luvu Brands Provides Quarter-to-Date Sales Update

Rhea-AI Summary

Luvu Brands, Inc. (OTCQB:LUVU) reported preliminary unaudited net sales for October and November 2021, showing a significant increase of 32% compared to the same period in 2020, totaling approximately $1,059,000. CEO Louis Friedman highlighted strong orders and shipments for their Liberator and Jaxx products, largely driven by e-commerce sales. The company anticipates ending the second quarter (December 31) with sales up by 28% to 32% year-over-year.

Positive

• Preliminary net sales up 32% or approximately $1,059,000 compared to the same months in 2020.
• Strong demand for Liberator and Jaxx products, mainly through e-commerce channels.
• Anticipated sales growth of 28% to 32% for Q2 compared to the previous year.

Negative

• None.

ATLANTA, GA / ACCESSWIRE / December 7, 2021 / Luvu Brands, Inc., (OTCQB:LUVU), a designer, manufacturer and marketer of a portfolio of consumer lifestyle brands, today announced that preliminary unaudited net sales for October and November of 2021 were 32% higher (or approximately $1,059,000) higher than the same two months of 2020.

Louis Friedman, the company's founder and Chief Executive Officer said "Orders and shipments of our Liberator and Jaxx products continue to be strong, as these products are sold primarily through e-commerce and e-merchant channels and are often purchased as gifts. Based on the current order, production and shipment levels, I'm anticipating that we will end our second quarter (ending December 31) ahead of last year Q2 by approximately 28% to 32%."

About Luvu Brand

Luvu Brands, Inc. designs, manufactures and markets a portfolio of consumer lifestyle brands through the Company's websites, online mass merchants and specialty retail stores worldwide. Brands include: Liberator^®, a brand category of iconic products for enhancing sexual performance; Avana^®, inclined bed therapy products, assistive in relieving medical conditions associated with acid reflux, surgery recovery and chronic pain; and Jaxx^®, a diverse range of casual fashion daybeds, sofas and beanbags made from polyurethane foam and repurposed polyurethane foam trim. Headquartered in Atlanta, Georgia, the Company occupies a 140,000 square foot vertically integrated manufacturing facility and employs over 200 people. The Company's brand sites include: www.liberator.com, www.jaxxliving.com, www.avanacomfort.com plus other global e-commerce sites. For more information about Luvu Brands, please visit www.luvubrands.com.

Company Contact:

Luvu Brands, Inc.
Ronald Scott
Chief Financial Officer
770-246-6426
ron@LuvuBrands.com

SOURCE: Luvu Brands, Inc.

View source version on accesswire.com:
https://www.accesswire.com/676364/Luvu-Brands-Provides-Quarter-to-Date-Sales-Update

FAQ

What were Luvu Brands' sales figures for October and November 2021?

Luvu Brands reported preliminary unaudited net sales of approximately $1,059,000, which is a 32% increase compared to the same months in 2020.

What is the sales growth forecast for Luvu Brands in Q2 2021?

Luvu Brands anticipates a sales increase of approximately 28% to 32% for the second quarter ending December 31, 2021, compared to the same period last year.

Which products are driving sales for Luvu Brands?

Sales growth for Luvu Brands is driven primarily by orders and shipments of their Liberator and Jaxx products.