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Lulu's Fashion Lounge Holdings, Inc. (symbol: LVLU) is a leading online fashion retailer specializing in chic and on-trend apparel for Millennial and Gen Z women. Headquartered in California, Lulus offers a carefully curated selection of fashion-forward items, ranging from Fall and Winter Dresses to Casual and Wedding Dresses, as well as various denim options and more. The company's commitment to providing superior customer service and a personalized shopping experience sets it apart in the competitive fashion industry.
Lulus has built a strong global presence, servicing customers worldwide while generating the majority of its revenue from its US-based clientele. Known for its innovative and team-oriented work culture, Lulus consistently seeks top talent to join its dynamic team, fostering a fun and casual work environment.
Recent achievements for Lulus include collaborations aimed at bridging the gap between young women of color and their desired careers in fashion, media, and entertainment. One notable partnership is with Gyrl Wonder, which introduces new pathways for young women to enter the fashion industry.
Financially, Lulus has reported strong performance metrics in recent quarters. In the Second Quarter of 2023, CEO Crystal Landsem highlighted key accomplishments during the company’s webcast and conference call. The Third Quarter of 2023 also showed significant progress, with updated financial outlooks for the full year. Tiffany Smith, CFO of Lulus, shared highlights from the Fiscal Year 2023, and the company continues to update its financial outlook for Fiscal Year 2024.
To stay updated with the latest news and financial performance of Lulus, investors can access webcasts, conference call information, and detailed financial reports on metrics such as Adjusted EBITDA, Adjusted EBITDA Margin, Active Customers, Average Order Value, Gross Margin, and Total Orders Placed.
For more information, contact Abbygail Reyes, Vice President of Communications, at investors@lulus.com.
Lulus reported Q3 2024 financial results with net revenue of $80.5 million, a 3% decrease from the previous year. The company saw record growth in special occasion and bridesmaid dress categories, offset by softness in casual wear. Key metrics showed a 9% decrease in gross profit to $30.6 million, with margins declining 220 basis points to 38.1%. The company reported a net loss of $6.9 million, compared to $3.9 million loss last year. Active customers decreased 10% to 2.7 million. For Q4 2024, Lulus expects net revenue between $67.5-70.0 million, and full-year 2024 revenue between $317.5-320 million.
Lulus (Nasdaq: LVLU) announced it will release its third quarter 2024 financial results on Wednesday, November 13, 2024, after market close. The company will host a conference call and live webcast with the investment community at 5:00 p.m. Eastern Time on the same day. The results and webcast will be available through the Investor Relations section of Lulus' website. Investors can access the call via conference line and a replay will be available for seven days following the call.
Lulu's Fashion Lounge Holdings, Inc. (Nasdaq: LVLU) has announced a strategic collaboration with Dillard's, one of the nation's largest fashion retailers. This partnership marks a significant milestone in Lulus' wholesale strategy, aimed at expanding the brand's distribution footprint across key markets. As part of this collaboration, Lulus will introduce its latest collections to more than 30 Dillard's stores nationwide, offering a selection of special occasion and event apparel.
The collaboration is timed strategically for Homecoming shoppers and is expected to drive increased market penetration. Lulus also plans to introduce an expanded Prom collection at Dillard's in early 2025. This move aligns with Lulus' record second quarter performance in special occasion and bridesmaids categories, reinforcing its position as a go-to destination for life's special moments.
Lulus Fashion Lounge Holdings (Nasdaq: LVLU) has announced a significant reduction in its Board of Directors, downsizing from eleven to six members. This strategic move aims to reduce costs and streamline operations while maintaining corporate governance best practices. Five directors have voluntarily resigned, effective September 4, 2024. The restructured Board includes four independent directors, one non-independent director, and the CEO.
As part of the cost-reduction efforts, the company has suspended director retainers and reorganized committee structures. The Board remains confident in its ability to guide the company's turnaround and restore shareholder value under CEO Crystal Landsem's leadership. Additionally, former director David McCreight has amended his 10b5-1 Sales Plan, reducing the number of shares to be sold from 633,000 to 62,500, effective November 18, 2024.
Lulus Fashion Lounge Holdings (Nasdaq: LVLU) reported Q2 2024 financial results, showing a 13% decrease in net revenue to $92.0 million. The company experienced a 180bps sequential improvement in quarterly net revenue comps from Q1 to Q2 2024. Gross margin increased by 80bps to 45.5% compared to Q2 2023. Lulus reported a net loss of $10.8 million, up from $2.6 million in the same period last year. The company's active customers decreased by 13% to 2.7 million. For Q3 2024, Lulus expects net revenue between $75 million and $79 million. The company has implemented cost reduction measures, aiming for a 10-15% reduction in operating expenses for the second half of 2024.
Lulus Fashion Lounge Holdings (Nasdaq: LVLU) released preliminary Q2 2024 results, showing challenges amid economic headwinds. Key highlights include:
- Expected net revenue of $90.5-91.5 million, down 13.8-14.7% year-over-year
- Anticipated Adjusted EBITDA between ($0.9) million to ($0.2) million
- Projected pre-tax loss of $4.5-5.2 million
The company implemented cost reductions to improve profitability and enable sustainable growth. Despite challenges, Lulus reported sequential improvements in revenue comps and positive early Q3 sales trends. The full Q2 2024 earnings call is scheduled for August 14, 2024.
Lulus (Nasdaq: LVLU) has announced a strategic partnership with D'Amelio Footwear, set to launch on July 29 as part of their successful 'Lulus Loves' campaign. This collaboration aims to expand Lulus' influence among Gen Z consumers and broaden both brands' global reach. The partnership features a -edition capsule collection of footwear, blending Lulus' feminine style with D'Amelio's trendsetting designs.
To celebrate the launch, Lulus will host an in-store meet-and-greet with Dixie and Charli D'Amelio on July 27 at their Melrose store in Los Angeles. The marketing campaign includes a dedicated photoshoot, social media activations, and a Times Square billboard. This marks Lulus' first major celebrity partnership, strategically positioning the brand to attract the next generation of customers.
Lulu's Fashion Lounge Holdings (Nasdaq: LVLU) has launched a new capsule collection, Lulus Loves: Vans, in partnership with Vans, a VF brand. This initiative aims to expand Lulus' footwear offering by incorporating Vans' classic styles, including Old Skool sneakers and Slip-Ons. The new collection is available nationwide starting June 25, 2024. This move follows successful collaborations with other brands like Levi's and Boys Lie. Laura Deady, Lulus' Chief Merchandising Officer, emphasized that the partnership allows customers to easily integrate Vans' essential styles into their summer wardrobes without sacrificing comfort. The collection is designed to be versatile, suitable for various occasions such as summer outings, concerts, and office wear.
Lulus has announced a new collaboration with the clothing brand Boys Lie, introducing the 'Lulus Loves: Boys Lie' capsule collection. This exclusive collection, available in quantities both online and in-store, features items from Boys Lie's 'To Have and To Hold' collection, which celebrates brides-to-be. To commemorate the launch, Boys Lie will host its first-ever live podcast recording at Lulus' Melrose location on May 28. This partnership aims to expand Lulus' strong presence in the bridal category, offering curated selections of hoodies, sweats, tees, shorts, and accessories designed to empower and celebrate women. The capsule is part of Lulus' new 'Lulus Loves' campaign, which began with a collaboration with Levi's in May.
Lulus announced an extended partnership with Levi Strauss & Co. to offer a selection of classic styles for women. The Lulus Loves: Levi’s® capsule includes trucker jackets, jeans, cutoff shorts, and more, available online and in-store. This collaboration aims to enhance the shopping experience for Lulus customers by providing quality, versatile, and attainable denim options.
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