Starting off a new fiscal year, DTC brands this past week reported mixed earnings results for the first quarter. While some brands improved on losses, others saw net revenue and income drop. According to Retail Dive, 2023 is shaping up to be a transformational year for many companies that are now turning an eye to cutting increased expenses and balancing out their physical footprints. Which stores fared better than others? Here are some winners:
Hims & Hers - Revenue: $190.8 million | YoY: +88%; Operating loss: $11.2 million | YoY: -33.4%; Net loss: $10 million | YoY: -38.1%
The Honest Company - Revenue: $83 million | YoY: +21%; Operating loss: $18.7 million | YoY: +28.3%; Net loss: $18.9 million | YoY: +29%
Warby Parker - Revenue: $172 million | YoY: +12.2%; Operating loss: $12.4 million | YoY: -63.2%; Net loss: $10.8 million | YoY: -68.3%
And losers:
Olaplex - Revenue: $113.8 million | YoY: -38.9%; Operating income: $35.6 million | YoY: -67.3%; Net income: $21 million | YoY: -66.2%
Purple - Revenue: $109.4 million | YoY: -23.6%; Operating loss: $22 million | YoY: +19.7%; Net loss: $23.4 million | YoY: +71.7%
Allbirds - Revenue: $54.4 million | YoY: -13.4%; Operating loss: $35.7 million | YoY: +78.6%; Net loss: $35.2 million | YoY: +60.7%
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