LXR LXRandCo Inc

Estimated Total and E-commerce Net Revenue Up 27% and 241%, Respectively

MONTREAL, Aug. 17, 2021 /CNW/ - LXRandCo, Inc. (LXR or the Company) (TSX: LXR) (TSX: LXR.WT), a North American, digital-first omni-channel retailer of authenticated pre-owned luxury products, today provided a revenue update, which includes total net revenue and e-commerce net revenue estimates for the month of July 2021 and estimates for the year-to-date (YTD) and the latest twelve months (LTM) periods ending July 31, 2021.

Monthly and YTD Net Revenue
In July 2021, the Company realized total net revenue of $1.5 million, including e-commerce net revenue of $0.8 million, which represented growth of 27% and 241%, respectively, over the same period last year. For the YTD seven-month period ending July 31, 2021, the Company realized total net revenue of $8.1 million, including e-commerce net revenue of $4.9 million, which represented a decrease of 7% and an increase of 144%, respectively, over the same period last year.

While total year-to-date July net revenue is down 7% versus last year, July marked the fifth consecutive month of double-digit revenue growth. In addition, throughout 2021, e-commerce monthly net revenue has been tracking significantly above comparable months. The following table summarizes 2021 year-to-date total and e-commerce monthly net revenue as compared to comparable periods in 2020.

LTM Total and E-commerce Net Revenue History

For LTM July 2021, the Company had total net revenue of $13.2 million. LTM July 2021 e-commerce net revenue was $7.3 million, a level 64% higher than the same period last year. As disclosed previously, we believe that the Company's revenue declines have bottomed, and we expect to post successively higher increases in LTM revenue for both total and e-commerce net revenue throughout the year. 

The following table provides historical quarterly and LTM total net revenue and e-commerce net revenue for which financial statements have been prepared by us as a reporting issuer.

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FY 2021 Outlook
The Company's total net revenue target for FY 2021 is between $17.5 million and $20 million, with e-commerce penetration of approximately 50% to 65%. This is a revision from our previously disclosed net revenue target for F2021 of between $16 million and $20 million.

About LXR
LXRandCo is a socially responsible, digital-first omni-channel retailer of authenticated pre-owned luxury handbags and personal accessories. Since 2010, we have been providing consumers with authenticated branded luxury products by promoting their reuse and providing an environmentally responsible way for consumers to purchase luxury products. We achieve this through our digital-first strategy by selling directly to consumers through our website at www.lxrco.com and indirectly by powering the e-commerce and other platforms of key channel partners. Our omni-channel model is also supported by retail 'shop-in-shop' experience centers and by wholesale activities with select retail partners across North America.

SOURCE LXRandCo, Inc.