Start here if you're new
what it is
Lulu’s sells women’s fashion online, mostly to Millennial and Gen Z shoppers, and ships to about 150 countries.
how it gets paid
Last year S Fashion made $316M in revenue. dresses was the main engine at $126.4M, or 40% of sales.
what just happened
The key takeaway was simple: Lulu’s posted a quarterly EPS of -$4.79 as losses kept getting worse.
At a glance
C balance sheet — red flag territory — real financial stress
4.8% return on capital — nothing to write home about
-$13.34 fy2024 eps est
$316M fy2024 rev est
16.6% operating margin
xvary composite: 25/100 — weak
What they do
Lulu’s sells women’s fashion online, mostly to Millennial and Gen Z shoppers, and ships to about 150 countries.
The real edge is reach without a giant store fleet. Lulu’s had 2.6 million active customers as of December 29, 2024 and shipped to around 150 countries with limited marketing spend outside the U.S. It also works with about 300 suppliers that often give it priority access and exclusive designs, which means your closet gets fast-moving styles before a lot of same-price rivals.
How they make money
$316M
annual revenue
dresses
$126.4M
occasionwear
$75.8M
tops & sweaters
$47.4M
shoes & accessories
$34.8M
bridal & special collections
$31.6M
The products that matter
online dress and apparel retail
women's apparel & dresses
$253M · 80% of revenue
this category contributes about $253M of the $316M revenue base. if the core dress business does not recover, nothing else here is big enough to save the model.
core segment
adjacent basket expansion
footwear & accessories
$63M · 20% of revenue
this segment is roughly $63M, or one-fifth of sales. it matters because add-on categories can lift order value, but today it is too small to offset weakness in the core business.
supporting category
Key numbers
16.6%
operating margin
Operating margin → profit after running the business → so what: every $100 in sales lost about $16.60 before interest and taxes.
$316M
annual revenue
This is not a fake business with no customers. The problem is that $316M in sales still did not produce earnings.
2.6M
active customers
That customer base shows the brand has real reach. The quiet part is that reach has not yet become durable profit.
$12M
long-term debt
Debt is manageable in dollars, but it matters more when the market cap is only about $38M and losses are still running.
Financial health
C
strength
- balance sheet grade C — very weak — significant financial distress
- risk rank 5 — safer than 5% of stocks
- price stability 5 / 100
- long-term debt $12M (24% of capital)
C — below average. watch for debt servicing and cash burn.
Total return vs. market
Return history isn't available for LVLU right now.
source: institutional data · return history unavailable
What just happened
missed estimates
The key takeaway was simple: Lulu’s posted a quarterly EPS of -$4.79 as losses kept getting worse.
Latest-quarter revenue was reported at $219M, up 198% vs. prior year, but that figure sits awkwardly against the $316M annual revenue base and needs caution. What is clear from the provided quarterly history is that earnings deteriorated through 2024.
$219M
revenue
$4.79
eps
42.9%
gross margin
the number that mattered
EPS of -$4.79 mattered most because it capped a full year of -$13.34, versus -$7.20 the year before.
source: company earnings report, 2026
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What could go wrong
the top risk is continued losses after the 1-for-15 reverse split. this is not abstract. q3 2025 still showed a $13.3M net loss on $79M in revenue.
high
continued cash and equity destruction
-251.91% return on equity is the loudest number on the page. it means shareholder capital has been getting burned, not compounded.
if losses persist, the tiny $38M equity value stays exposed to further dilution or worse.
high
reverse split without operating repair
the july 2025 1-for-15 reverse split solved a listing problem. it did not solve a business problem.
if operating results do not improve, the market can keep repricing the shares lower even after the split math is done.
med
category concentration
about $253M of the $316M revenue base comes from women's apparel and dresses. that's 80% of the business riding on one core category.
if that category weakens, there is no second engine large enough to absorb the hit.
med
thin operating margin in a promotional industry
42.9% gross margin sounds workable. 3.0% operating margin says most of that room disappears once the business starts spending to acquire customers and run the platform.
a few points of extra discounting or marketing pressure can turn a weak quarter into a very weak one.
the combined risk picture is simple: a $316M revenue retailer with a $38M market cap, 3.0% operating margin, and -251.91% return on equity does not have much room left for strategic storytelling.
source: institutional data · regulatory filings · risk analysis
Pay attention to
earnings
q4 and full-year 2025 results
scheduled for march 30, 2026. you need to see whether the loss profile is narrowing or just moving around the income statement.
margin
operating margin above 3.0%
3.0% is too thin for comfort. if management cannot expand that, the turnaround stays cosmetic.
listing risk
life after the reverse split
the split fixed the share count optics. what matters next is whether the stock can hold up without another compliance drama.
execution
new cfo, fewer surprises
the february 2026 CFO appointment matters if it leads to cleaner execution, steadier reporting, and better capital discipline. you do not need a visionary here. you need control.
Analyst rankings
coverage
thin
analyst ranking data is limited here. in human-speak, this stock sits well outside the part of the market that gets deep institutional attention.
what that means
do more work
when coverage is sparse, price can drift far from fundamentals in both directions. that creates opportunity for some stocks and landmines for others. this page leans landmine until results improve.
source: institutional data
Institutional activity
institutional ownership data for LVLU is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$6
current price
n/a
target midpoint · n/a from current
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