Revolve Group, the fashion e-tailer, reported sales in the fourth quarter ended December 31 rose 15.5 percent to $147.6 million from $127.7 million.
Earnings rose 9 percent to $8.4 million, or 12 cents, from $7.7 million, or 11 cents, a year ago. Adjusted EBITDA improved 15 percent to $13.7 million from $11.9 million.
For the year, sales rose 21 percent to $601 million from $498.7 million. Net income was up 16 percent to $35.7 million from $30.6 million. Adjusted EBITDA advanced 20 percent to $55.6 million from $46.5 million.
“We are proud to extend our long track record of achieving top-line growth and profitability, delivering net sales growth of over 20-percent, continued growth in profitability and exceptional cash flow in 2019,” said Co-Founder and Co-CEO Michael Mente.
“We are excited about our 2020 initiatives to continue building on the recent momentum in the Forward segment and International markets, while further investing in the core REVOLVE segment, including enhancing the owned brands platform and continuing to innovate in marketing, technology and customer experience,” added Co-Founder and Co-CEO Mike Karanikolas.
Photo courtesy Revolve Group
