Lulu’s Fashion Lounge Holdings, Inc. ( (LVLU) ) has released its Q4 earnings. Here is a breakdown of the information Lulu’s Fashion Lounge Holdings, Inc. presented to its investors.
Lulu’s Fashion Lounge Holdings, Inc. is a California-based fashion brand specializing in women’s event attire, offering modern and feminine designs at accessible prices. In its latest earnings report for the fourth quarter and fiscal year 2024, Lulus reported a decrease in net revenue by 11% to $315.9 million, attributed to a decline in total orders and higher return rates, despite a slight increase in average order value. The company also recorded a net loss of $55.3 million, exacerbated by a significant non-cash goodwill impairment charge. Despite these challenges, Lulus managed to reduce total expenses as a percentage of net revenue by 175 basis points in the fourth quarter, thanks to strategic cost-cutting measures and the consolidation of its West Coast distribution facilities.