LULU'S FASHION LOUNGE HOLDINGS, INC. Reports a Net Loss of $5.6 Million for Q1 2023
Company Revenue Declines to $90.98 Million in the First Quarter
By USInMinutes
Published - Jul 25, 2023, 11:05 AM ET
Last Updated - Jul 25, 2023, 11:05 AM EDT
LULU's Fashion Lounge Holdings, Inc.(LVLU), a leading fashion retailer, has released its condensed consolidated financial statements for the first quarter ending April 2, 2023. The financial report reveals a challenging quarter for the company as it faced a decline in both net income and revenue.
Net Income/Loss
In the first quarter of 2023, LULU's Fashion Lounge Holdings, Inc. reported a net loss of $5.6 million. This is a significant decline compared to the same period in the previous year when the company recorded a net income of $2.04 million. The decrease in net income was influenced by various factors, including higher operating expenses and lower gross profit.
Revenue
