Fast Fashion E-Tailer Lulu’s Files For IPO
Lulu’s, an online retailer of women’s apparel, is headed towards the public markets. It’s filed an S-1 document for an initial public offering (IPO), showing its intent to list on the Nasdaq exchange.
- For its most recent fiscal quarter, the three months ended October 3, 2021, Lulu’s brought in between $105mn to $106mn in revenue. Its net income for the same period was at the $3mn-$4mn mark. The estimations are because the final, audited results haven’t yet been posted.
- For the fiscal year ended January 3, 2021, Lulu’s posted $249mn in revenue and a net loss of $19mn. It shows that the company has swung from losses to profitability this year, with the net profit of between $3mn-$4mn reported in its recent fiscal quarter.
- Lulu’s says it has 2.5 million active customers.
- Lulu’s has filed to list on the Nasdaq exchange with the trading symbol “LVLU”. Rumors have it the company is targeting a $1bn+ valuation with its IPO.
Less than 5% net profit is not great