The apparel industry has seen rapid change in 2020 due to the coronavirus pandemic. Revolve Group (NYSE: RVLV) , an online-only retailer focused on fashion apparel for millennial women, is feeling the best and worst of this change. Demand for the company's products has declined this year, but may be on the verge of a turnaround if the economy opens back up in 2021. Here's why.
Revolve released its third-quarter report after the markets closed on November 11th. Revenue was down 2% year over year to $151 million, while net income was up 103% year over year to $19.4 million.
Image source: Getty Images.
For further details see:
Why Revolve Group Is Poised for a 2021 Turnaround