{"id":739985,"date":"2023-03-14T16:08:41","date_gmt":"2023-03-14T20:08:41","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/lulus-reports-fourth-quarter-2022-results-and-record-fiscal-year-net-revenue\/"},"modified":"2023-03-14T16:08:41","modified_gmt":"2023-03-14T20:08:41","slug":"lulus-reports-fourth-quarter-2022-results-and-record-fiscal-year-net-revenue","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/lulus-reports-fourth-quarter-2022-results-and-record-fiscal-year-net-revenue\/","title":{"rendered":"Lulus Reports Fourth Quarter 2022 Results and Record Fiscal Year Net Revenue"},"content":{"rendered":"
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\n Record-Breaking Full Year 2022 Net Revenue of $440 million, up 17% from 2021<\/em>
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\n Full Year Net Income of $3.7 million, up 82% from 2021<\/em>
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\n Grew Active Customers, up 17% from 2021<\/em>
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CHICO, Calif., March 14, 2023 (GLOBE NEWSWIRE) — Lulu\u2019s Fashion Lounge Holdings,\u00a0Inc. (\u201cLulus\u201d or the \u201cCompany\u201d) (Nasdaq: LVLU) today reported financial results for the fourth quarter and full year ended January 1, 2023.<\/p>\n

\n Crystal Landsem, CEO of Lulus, said:<\/strong>\n <\/p>\n

\u201cWe\u2019re proud to have completed our first full year as a public company on solid ground with a clean balance sheet free of high-cost term debt, which enabled us to continue investing in the business. We saw year-over-year growth in repeat customers during the fourth quarter, as well as healthy year-over-year growth in Active Customers, which shows that our brand continues to resonate with our customers. Like others, we were impacted by the continued challenging macroenvironment, and in response, we remained promotional during the holidays, which along with high shipping costs, resulted in product margin compression. Despite the continued difficult macroenvironment, we are pleased with our year-end inventory position and the strength of our balance sheet, which we believe positions us well to continue to execute on our long-term growth strategies.\u201d<\/p>\n

\n Full Year 2022 Highlights:<\/strong>\n <\/p>\n