Fashion brand Lulu's falls on Q2 profit miss
17/08/2022 14:21
** Shares in Lulu's Fashion Lounge Holding LVLU.O fall
4.3% before the bell to $7.49 after co misses Q2 profit
estimates
** The company reports EPS of 15 cents, compared with
analyst estimates of 16 cents, according to Refinitiv IBES data
** Net income falls 28.1% to about $6 million, owing to
higher shipping costs and uncertain macro factors
** LVLU reiterates full-year guidance, but still expects
continued gross margin headwinds in the H2 2022
** Like many in the industry, we experienced headwinds
related to shipping costs and heightened levels of returns -
Chief Executive Officer David McCreight
** Up to yesterday's close, stock had fallen about 23.5% YTD
(Reporting by Mehr Bedi in Bengaluru)
((Mehr.Bedi@thomsonreuters.com;))