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PRPL - Why Purple Innovation Stock Was Sinking Today
Purple Innovation Inc.
2023-08-10 15:27:00 ET
Shares of direct-to-consumer mattress maker Purple Innovation (NASDAQ: PRPL) were falling today after the company issued a disappointing second-quarter earnings report.
As of 2:26 p.m. ET, the stock was down 14.5%.
Revenue in the quarter fell 16.1% to $120.9 million, missing estimates at $131.8 million. Both wholesale and direct-to-consumer revenue were down by about the same percentage as overall revenue.