![]() Inventory was $208.5 million, an increase of 75 percent from the inventory balance of $118.8 million as of June 30, 2021. He also indicated that the company is factoring in that return rates will remain elevated throughout 2022. In particular, Revolve experienced a higher return rate year-over-year with normalizing product mix being a key contributor as dresses grew to 32 percent of net sales in the second quarter of 2022 from 24 percent in the second quarter of 2021.Ĭhief financial officer Jesse Timmermans said the return rates are trending above 2019 levels. Fuel surcharges in the second quarter were more than 4x what they were in the prior year, and increased 60 percent for the first quarter. Mike Kazanikolas, co-CEO, co-founder, and chairman of the board at Revolve, said in an earnings call that cost pressures came largely from customer shipping expenses, specifically higher return rates and fuel surcharges. ![]() Madewell Focuses on Regenerative Cotton and Bluesign-Approved Denim The company saw quarterly growth of approximately 124,000 active customers during the second quarter of 2022, the highest ever for a second quarter. While sales growth has slowed, Revolve is doing better in acquiring customers. “We believe these customers are likely to pull back in spending in the near term as macro uncertainties loom.” ![]() “We estimate that Revolve’s average household income could fall in the $60k-$75k range, and core customers are aspirational shoppers who typically allocate an outsized portion to discretionary apparel,” Oliver Chen, senior equity research analyst at Cowen, wrote in a research note. In a Nutshell: In previewing the third quarter, net sales in July increased approximately 10 percent year-over-year amid the current uncertain macroeconomic environment, with the millennial and Gen Z-loved fashion brand referring to both inflation and low consumer sentiment as factors slowing growth. Revolve stock was trading down 13.03 percent Thursday afternoon at $26.91 per share. Stock dropped more than 16 percent in after-hours trading on Wednesday after sales and earnings per share both missed Wall Street projections in the wake of increased cost pressures related to return rates and fuel surcharges. Also, Revolve does not refund shipping charges on expedited orders.Revolve saw a record $290.1 million in net sales in the second quarter, increasing 27 percent year-over-year on net income of $16.3 million. Refund timing may vary depending on your mode of payment. You will receive a confirmation mail once Revolve issues your refund. Once Revolve receives your package, they will proceed with your refund within 3 to 10 business days. You can use any courier to send back the product, but customers outside the US will have to bear the shipping cost.When you ship the package, write your invoice number and a note saying Return Shipment to the US.Pack the item carefully along with the invoice.If you want to exchange, mention the size, color, or model in the invoice. You have to state clearly in the invoice whether you are returning or exchanging a product.Here are the steps you’ve to follow to return/exchange your package. How to Send Your Revolve Return/ Exchange Package? Here is a table showing the Revolve return policy in detail- Revolve You can return beauty products only if they are unopened.Return products should have no make-up or deodorant rubbing off on them.Refrain from removing the protective slip from such items. You must try lingerie and swimwear over underwear for hygiene reasons.To prevent any marks, try shoes on a clean surface. Shoes should be returned in their original boxes.Products should have original tags attached.You have to return the item unworn, unwashed, and undamaged.Revolve also has a few return conditions: Also, you can’t alter the bridal gown, and it should have all original tags attached. The company won’t accept return requests beyond 30 days for bridal attires. If you order bridal gowns, you’ll have to return them within 30 days. If you have bought items at a heavily discounted price during a sale, the item may not be eligible for an exchange, return, or store credit. They have extended their return period after March 2020, and for exchanging any product, you get a 90-day timeframe.īefore March 2020, the return period was 30 days and the exchange period was 60 days. If you no longer want the product and want to return your Revolve purchase, you get a 60-day return period. ![]() Revolve Returns Policy: All You Must Know
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |