×
2 468
Fashion Jobs
REISS
Business Applications – Support Analyst
Permanent · LONDON
VF INTERNATIONAL
dc Inventory Team Leader
Permanent · COALVILLE
VF INTERNATIONAL
dc Training Specialist
Permanent · COALVILLE
VF INTERNATIONAL
Warehouse Area Manager
Permanent · COALVILLE
VF INTERNATIONAL
dc Team Leader
Permanent · COALVILLE
HEAD OFFICE
Category Strategy Manager
Permanent · BRACKNELL
AUTUMNPAPER LIMITED
Alexander Mcqueen Vip & Kol Manager
Permanent · LONDON
ESTEE LAUDER
Clinique - Consultant - Boots, Bluewater - 22.5 Hours, 3 Days - Part Time, Permanent
Permanent · Dartford
ESTEE LAUDER
Clinique - Consultant - Boots, Bluewater - 15 Hours, 2 Days - Part Time, Permanent
Permanent · Dartford
JOHN LEWIS
Loss Prevention Partner
Permanent · CHELMSFORD
BOOHOO GROUP
Senior Commercial Finance Analyst
Permanent · MANCHESTER
BOOHOOMAN
Senior Marketing Manager
Permanent · MANCHESTER
BOOHOO
Paid Search Manager
Permanent · MANCHESTER
DEBENHAMS
Marketplace Business Development Manager
Permanent · LONDON
DEBENHAMS
Marketplace Account Manager
Permanent · LONDON
DEBENHAMS
Marketplace Business Development Assistant
Permanent · LONDON
REISS
Buying Admin Assistant - Graduate Opportunity
Permanent · LONDON
HOMESENSE
Loss Prevention Officer - Full Time Tkmaxx/Homsesense Basingstoke
Permanent · Basingstoke
VIVIENNE WESTWOOD
Warehouse Operative
Permanent ·
VIVIENNE WESTWOOD
Legal Counsel
Permanent · LONDON
VIVIENNE WESTWOOD
Buying Admin Assistant
Permanent · LONDON
ESTEE LAUDER
Tom Ford - Assistant Business Manager - Selfridges, London - 37.5 Hours - Full Time, Permanent
Permanent · London
Ads
Published
May 8, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Revolve profits skyrocket with return of social outings

Published
May 8, 2021

Los Angeles-based online fashion retailer Revolve Group, Inc. achieved record income of $22.3 million in the first quarter, representing an increase of 435% compared to $4.2 million in the prior-year period. Diluted earnings per share for the quarter came to $0.30, up from $0.06 in Q1 2020.
 

Revolve's Q1 revenues represented growth even when compared to pre-Covid levels - Facebook: Revolve


These results also represented strong growth when compared to Q1 2019, the most recent first quarter before the onset of the Covid-19 pandemic, when Revolve’s earnings totaled $5.0 million.
 
According to Revolve co-founder and co-CEO Michael Mente, “the strong recovery in March came from a return to growth in styles associated with social outings, such as dresses, as well as continued strong growth in at home related products, including beauty, intimates and activewear that have grown rapidly throughout the pandemic.”

Total net sales for the quarter ended March 31, 2021, were $178.9 million, reflecting a year-over-year increase of 22.5% from $146.1 million in the same period in the previous year.
 
Looked at in more detail, the company’s Revolve segment contributed net sales of $152.2 million in the quarter, up 22.2% from the prior-year period, while sales in the Forward segment totaled $26.7 million, increasing 23.8% year over year.
 
Growth in the group’s international sales outperformed the performance of domestic sales with a year-over-year increase of 38%, compared to a 19% rise on the company’s home market. Progress in Revolve’s international business was driven by strong gains in Australia, Canada, and Greater China, all of which delivered strong double-digit sales growth in the quarter.
 
“Our exceptional results for the first quarter reinforce our belief that Revolve is uniquely positioned for the reopening of economies and the post-Covid world as a brand consumers associate with living an active social lifestyle,” commented the group’s other co-founder and co-CEO, Mike Karanikolas, in a release. “We are excited to re-accelerate our investment in the business to support our next phase of growth.”
 
Since the end of the first quarter, the company’s strong momentum has continued to build, with year-over-year growth in April noticeably outstripping that seen in 2021.
 
Revolve also pointed out that, having recently resumed and achieved success with its in-person marketing events in Australia and Los Angeles, the company is planning to make further investments in marketing events and programs in order to “capitalize on the reopening opportunity with newly vaccinated consumers.”
 

Copyright © 2022 FashionNetwork.com All rights reserved.