Lulu’s Fashion Lounge reports Q2 EPS (26c), consensus (4c)

Reports Q2 revenue $92M, consensus $91.97M. Reports Active Customers of 2.7 million, a decrease of 13% compared to 3.1 million in the same period last year, and AOV of $143, an increase of 6% compared to $135 in the same period last year. Crystal Landsem, CEO of Lulus, said: “Our second quarter results were in line with the expectations laid out in our preliminary results, reflecting persisting headwinds that carried through the first half of the year from lower sales comps driven by lower markdown sales due to less markdown inventory, overall higher return rates resulting from a slower transition to our new return policy, and softer sales within our casual business.”