Revolve Group Inc · Q1 2023 earnings

Briefing

Revolve's Q1 2023 financial performance reflected a challenging macroeconomic environment with decelerating net sales, while inventory rebalancing and cash flow generation showed excellent progress.

Revolve Group's Q1 2023 net sales decreased by 1% year-over-year to $279.6 million. Despite macroeconomic challenges, the company made progress in rebalancing inventory and generated strong cash flow. Net income was $14.2 million, a 37% decrease year-over-year.

• Net sales decreased by 1% year-over-year to $279.6 million.
• Gross profit decreased by 10% year-over-year to $139.2 million.
• Active customers increased by 19% year-over-year, reaching 2.424 million.
• Net income decreased by 37% year-over-year to $14.2 million.

Headline financials

Revenue & EPS history

Net sales in April 2023 decreased approximately 7% year-over-year against a difficult prior-year comparison and amidst an increasingly uncertain macroeconomic environment highlighted by consumer inflationary pressures, U.S. Department of Commerce reports of decelerating consumer spending on apparel in recent months and continued foreign exchange headwinds year-over-year.