8-K
filed November 15, 2022, 6:59 PM ET
ticker LVLU
CIK 0001780201
earnings
confidence high
sentiment negative
materiality 0.75
Lulus Q3 net income falls 76% YoY to $0.9M; CEO succession set for March 2023
Lulu's Fashion Lounge Holdings, Inc.
2022-Q3 EPS reported
$0.23
revenue$348,689,000
- Net revenue $105.3M, down 1% YoY; net income $0.9M, down 75.9% YoY; Adjusted EBITDA $5.4M, down 54.9% YoY.
- Gross margin contracted 560 bps to 42.1%; AOV up 6.4% to $133; active customers up 29.2% to 3.2M.
- Full-year 2022 guidance lowered due to macroeconomic headwinds and promotional activity.
- Crystal Landsem (current Co-President/CFO) appointed CEO effective March 6, 2023; David McCreight becomes Executive Chairman.
- Mark Vos becomes President & CIO; new CFO search expected to conclude in early 2023.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
Lulu's Fashion Lounge Holdings, Inc. updated its full year 2022 guidance (lowered).
- Period
- full year 2022
- Guidance
- lowered
- Result
- guidance update
Exact text from the filing
However, in the near-term we believe it’s prudent to reduce our 2022 guidance range for the year given the macro uncertainties.
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
Lulu's Fashion Lounge Holdings, Inc. reported third quarter ended October 2, 2022 results: revenue $105.3 million, net income $0.9 million.
- Period
- third quarter ended October 2, 2022
- Revenue
- $105.3 million
- Net income
- $0.9 million
- Result
- reported results
Exact text from the filing
However, in the near-term we believe it’s prudent to reduce our 2022 guidance range for the year given the macro uncertainties.” Third Quarter 2022 Highlights: · Net revenue of $105.3 million, a 1.0% decrease compared to the same period last year, driven by a 1% decrease in Total Orders Placed with higher return rates offset by higher Average Order Value (“AOV”),
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Crystal Landsem was appointed as Chief Executive Officer at Lulu's Fashion Lounge Holdings, Inc..
- Action
- appointed
- Role
- Chief Executive Officer
Exact text from the filing
the Board approved the appointment of Crystal Landsem, currently Co-President and Chief Financial Officer, as Chief Executive Officer as of the Effective Date.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Mark Vos changed role as President and Chief Information Officer at Lulu's Fashion Lounge Holdings, Inc..
- Role
- President and Chief Information Officer
Exact text from the filing
The Board also approved a change in the title of Mark Vos, currently Co-President and Chief Information Officer, to President and Chief Information Officer
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Evan Karp changed role as Chairman at Lulu's Fashion Lounge Holdings, Inc..
- Role
- Chairman
Exact text from the filing
Mr. McCreight will succeed Evan Karp as Chairman of the Board, and Mr. Karp will continue his service as a director on the Board.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
David McCreight was appointed as Executive Chairman at Lulu's Fashion Lounge Holdings, Inc..
- Action
- appointed
- Role
- Executive Chairman
Exact text from the filing
The Board approved the appointment of David McCreight, Lulus’ current Chief Executive Officer, as Executive Chairman, as of the Effective Date.
View on SEC.gov
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