MONTREAL, Dec. 11, 2017 /CNW/ - LXRandCo, Inc.
("LXRandCo" or the "Company") (TSX: LXR, LXR.WT), an
international omni-channel retailer of branded vintage luxury
handbags and accessories, today reported net revenue for the month
of November 2017 of $6.2 million, an 88% increase from $3.3 million for the month of November
2016. As of November 10, the
Company had 128 stores in operation, increasing to 130 stores by
November 30.
"The month of November was an excellent start to the 2017
holiday season, punctuated by our first ever million-dollar sales
day on Black Friday," said Fred
Mannella, Chief Executive Officer, LXRandCo, Inc. "The
holiday season is our busiest period of the year and is expected to
contribute to a profitable fourth quarter of 2017 on an adjusted
EBITDA basis. We look forward to building on this momentum
throughout 2018, with a continued focus on improved profitability,
as our more than 60 new stores opened in the second half of this
year ramp to full productivity and we increasingly benefit from the
operating leverage in our business."
New Partnership w/ Leading Specialty Retailer
LXRandCo also announced it has signed a partnership agreement
with a leading specialty retailer of branded footwear and
accessories, with more than 500 stores in the U.S. Through this new
partnership, LXRandCo has initially opened two flagship
"shop-in-shop" locations inside two of the partner's top performing
stores in Union Square in
San Francisco and Dublin (Columbus), Ohio.
"We are thrilled to add our first specialty retailer to our
growing roster of leading retail partners in North America and Europe," said Mr. Mannella. "This new
partnership brings together two highly complementary product
categories. Our new partner is one of the most recognized and
successful banners in the branded footwear and accessories category
in the United States and LXRandCo
adds a truly unique vintage luxury handbag and accessory shopping
experience."
About LXRandCo
LXRandCo is a rapidly growing, international omni-channel
retailer of branded vintage luxury handbags and other personal
luxury products. LXRandCo sources and authenticates high-quality,
pre-owned products from iconic brands such as Hermès, Louis Vuitton, Gucci and Chanel, among others,
and sells them at attractive prices through: a retail network of
stores located in major department stores in Canada, the United
States and Europe;
wholesale operations primarily in the
United States; and its own e-Commerce website,
www.lxrco.com.
Caution Regarding Forward-Looking Statements
Certain statements in this press release are prospective in
nature and constitute forward-looking information and/or
forward-looking statements within the meaning of applicable
securities laws (collectively, "forward-looking
statements"). Forward-looking statements generally, but not
always, can be identified by the use of forward-looking terminology
such as "outlook", "objective", "may", "could", "would", "will",
"expect", "intend", "estimate", "forecasts", "project", "seek",
"anticipate", "believes", "should", "plans" or "continue", or
similar expressions suggesting future outcomes or events and the
negative of any of these terms. Forward-looking statements in this
news release include, but are not limited to, statements concerning
future objectives and strategies to achieve those objectives,
including, without limitation, store openings, as well as other
statements with respect to management's beliefs, plans, estimates
and intentions, and similar statements concerning anticipated
future events, results, outlook, circumstances, performance or
expectations that are not historical facts. Forward-looking
statements reflect management's current beliefs, expectations and
assumptions and are based on information currently available to
management, which includes assumptions about continued revenues
based on historical past performance, management's historical
experience, perception of trends and current business conditions,
expected future developments and other factors which management
considers appropriate. With respect to the forward-looking
statements included in this press release, management has made
certain assumptions with respect to, among other things, the
Company's ability to meet its future objectives and strategies, the
Company's ability to achieve its future projects and plans and that
such projects and plans will proceed as anticipated, the expected
growth of the Company's e-Commerce revenue, the expected number and
timing of store openings in North
America and internationally, entering into new and/or
expanded retail partnerships in North
America and internationally, the Company's ability to source
products, the Company's competitive position in the vintage luxury
industry, and beliefs and intentions regarding the ownership of
material trademarks and domain names used in connection with the
marketing, distribution and sale of the Company's products as well
as assumptions concerning general economic and market growth rates,
currency exchange and interest rates and competitive intensity.
Readers are cautioned not to place undue reliance on
forward-looking statements, as there can be no assurance that the
future circumstances, outcomes or results anticipated or implied by
such forward-looking statements will occur or that plans,
intentions or expectations upon which the forward-looking
statements are based will occur.
All forward-looking statements included in and incorporated into
this press release are qualified by these cautionary statements.
Unless otherwise indicated, the forward-looking statements
contained herein are made as of the date of this press release, and
except as required by applicable law, the Company does not
undertake any obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise.
Readers are cautioned that the actual results achieved will vary
from the information provided herein and that such variations may
be material. Consequently, there are no representations by LXRandCo
that actual results achieved will be the same in whole or in part
as those set out in the forward-looking statements.
SOURCE LXRandCo, Inc.