LXR Announces Monthly Revenue Update

Total and E-commerce Net Revenue for June Up 71% and 139%, Respectively

MONTREAL, July 15, 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 and e-commerce net revenue estimates for the Company's month, year-to-date (YTD) and the latest twelve months (LTM) period ending June 30, 2021.

Monthly and YTD Revenue
In June 2021, the Company realized total net revenue of $1.4 million, including e-commerce net revenue of $0.6 million, which represents growth of 71% and 139%, respectively over the same period last year. For the YTD six-month period ending June 30, 2021, the Company realized total net revenue of $6.6 million, including e-commerce net revenue of $4.1 million, which represented a decrease of 13% and an increase of 130%, respectively over the same period last year.

While total year-to-date June net revenue is down due to the lingering effects of the pandemic, the Company's post-COVID turnaround remains on track, with positive revenue increases in each of the last four months. Throughout 2021, e-commerce monthly 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 Revenue History
For LTM June 2021, the Company had total net revenue of $12.8 million, a level that is 58% lower than the LTM revenue for the previous year. LTM June 2021 e-commerce net revenue was $6.7 million, a level 70% 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 e-commerce net revenue and total net revenue for which financial statements have been prepared by us as a reporting issuer.

FY 2021 Outlook
The Company's total net revenue target for FY 2021 is between $16 million and $20 million, with e-commerce penetration of approximately 50% to 65%.

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.

 Source - http://www.newswire.ca/en/releases/archive/July2021/15/c4749.html

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