Revolve Group is proving there might be a few winners amid the ongoing pandemic.
The fashion e-tailer posted quarterly results Wednesday after the bell, beating top-line expectations and improving on bottom-line profits year-over-year. Shares of Revolve surged more than 23 percent during after-hours trading as a result.
“Our team has done a phenomenal job remaining extremely nimble throughout this highly uncertain and fluid environment, finding innovative ways to deliver operating efficiencies throughout the business and rapidly adjusting our marketing and merchandising strategies to stay connected with our customer,” Revolve cofounder and co-ceo Michael Mente, said in his prepared remarks.
“We are confident that our agile team, flexible business model and strong balance sheet position us well to navigate through what continues to be an uncertain environment,” Karanikolas continued. “We believe these competitive advantages, coupled with our strong brand, differentiated technology and deep customer connection, position us to thrive over the long term.”For the three-month period ending June 30, the company’s total revenues were $142 million, down from nearly $162 million last year.
“We are keeping our customers very happy,” Mente said on Wednesday afternoon’s conference call with analysts. “Despite everything going on in the world around us, we’re continuing to drive brand loyalty.”
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Gray reef sharks form long-lasting social groups likely for hunting, study showsResearchers attached transmitters to gray reef sharks in a coral reef in the Pacific and monitored their interactions with other sharks over four years. The sharks created groups and met up with associates regularly, likely to hunt, the scientists found.
Weiterlesen »
U.S. says takes down militant groups' cryptocurrency fundraising effortThe U.S. Justice Department on Thursday said it took down efforts by the military wing of Hamas, al Qaeda and Islamic State to raise funds via cryptocurrency through schemes that included selling bogus COVID-19 safety equipment to U.S. hospitals.
Weiterlesen »
U.S. Seizes Fake Website, Cryptocurrency Assets From Terrorist GroupsThe U.S. said it seized millions of dollars in cryptocurrency assets and a fake website purporting to sell protective gear in an operation targeting the financial underpinnings of three terrorist groups.
Weiterlesen »
Facebook gets bad grades on report card from civil rights groups behind advertising boycottCivil rights groups behind StopHateForProfit boycott give Facebook poor grades, saying it failed to address or fell short of addressing demands.
Weiterlesen »
Artist-Activists Call on Business Leaders to Be Bolder Than Ever About Hiring From Underserved Groupssponsored by Salesforce | Disability activist, Emma Grace Wright joins the MakeChange series to discuss bittyandbeaus, her family's coffee shop chain that employs individuals with disabilities
Weiterlesen »