LXRandCo Expects Record Net Revenue for the Fourth Quarter of 2019

MONTRÉAL, Jan. 23, 2020 /CNW/ - LXRandCo, Inc. ("LXRandCo" or the "Company") (TSX: LXR, LXR.WT), an omni-channel retailer of branded vintage luxury handbags and other personal luxury products, announced today that it expects fourth quarter net revenue, which comprises revenue from its retail network, wholesale operations and e-Commerce activities, for the three-month period ending December 31, 2019 ("Q4") to come in at a record level of approx. $14.2 million, representing an increase of 30% versus the comparable fourth quarter period in 2018. In addition, the Company anticipates reporting a significantly higher gross profit margin for Q4 as compared to the comparable period in 2018.

On September 25, 2019, the Company announced the creation of the Office of the President, which, among other things, led to: a renewed focus on addressing the needs of consumers across all its channels; a rebalancing of its omni-channel model that will remain focused on its core retail network, and also focus on enhanced wholesale and e-Commerce growth; reenergizing the Company's culture and brand; and a focus on cost efficiencies.

The following table summarizes the net revenue history of LXRandCo for the most recent eight quarters.

Net Revenue for the Quarters Ended ($ million):

"We are delighted with our fourth quarter revenue growth and the collective efforts and progress of our team. While the retail environment remains challenging, the strong performance in our wholesale and e-Commerce channels in Q4 has highlighted the strategic merits of having a balanced omnichannel presence. I wish to thank our dedicated employees and our channel partners for their ongoing support," said Cam di Prata, interim Chief Executive Officer, LXRandCo.

The Company will announce its fourth quarter and full-year 2019 financial results on March 26, 2020. A conference call has been scheduled for March 26, 2020 at 9:00 AM EST.

SOURCE LXRandCo, Inc.