Figs reports Q1 EPS 0c, consensus 0c

Reports Q1 revenue $124.9M, consensus $119.4M. “First quarter results were ahead of expectations, supported by customer growth, strong full-priced selling, record AOV, and ultimately, a return to growth in the U.S.,” said Trina Spear, Chief Executive Officer and Co-Founder. “These positive signs bolster our conviction that the industry is on the path to normalization and our actions are resonating. At the same time, we are also operating in a period of growing economic uncertainty, where we believe we have an opportunity to demonstrate our category leadership, build upon our competitive advantages, and leverage our incredibly strong balance sheet. We are maintaining the clear focus that we outlined at the beginning of the year – our unwavering efforts to serve our community and our intent to accelerate investment to better support our opportunity. We believe great brands uniquely harness adversity, and we will continue to boldly lead and define this industry going forward.”