Why Revolve Group Stock Was Sliding Today
Shares of Revolve Group (NYSE: RVLV) were moving lower today after the online fashion retailer posted results that were roughly in line with expectations but lowered its gross margin guidance for the year.For an industry under pressure, like the fashion industry, Revolve's results were solid, but the guidance -- as well as slower growth to start the second quarter -- seems to have prompted the sell-off.As of 1:03 p.m. ET, the stock was down 7.6% on the news.Continue reading
Shares of Revolve Group (NYSE: RVLV) were moving lower today after the online fashion retailer posted results that were roughly in line with expectations but lowered its gross margin guidance for the year.
For an industry under pressure, like the fashion industry, Revolve's results were solid, but the guidance -- as well as slower growth to start the second quarter -- seems to have prompted the sell-off.
As of 1:03 p.m. ET, the stock was down 7.6% on the news.
