Revolve Group jumps after Q3 sales beat

Revolve

06/11/2024 14:06

** Fashion retailer Revolve Group's  RVLV.N  shares rise
21.8% to $31.70 premarket
    ** On Tuesday, company reported Q3 net sales of $283.1 mln
beating analysts' expectations of $271 mln, according to data
compiled by LSEG
    ** Company posted Q3 earnings of 15 cents per share vs est
10 cents - LSEG
    ** "Key contributors to our increased profitability were
meaningfully improved efficiency in our logistics costs,
continued improvement in our return rate, and increased
marketing efficiency year-over-year," co-CEO Mike Karanikolas
said
    ** At least 6 brokerages raise PTs on stock after results
    ** As of last close, company's shares up ~57% YTD

 (Reporting by Prakhar Srivastava in Bengaluru)
 ((prakhar.srivastava2@thomsonreuters.com))