Millennial-focused retailer Revolve upgraded as a quick inventory shift makes up for a drop in dress sales, stock jumps 18%

Revolve Group Inc.
RVLV,
+17.28%
shares jumped 18% in Thursday trading after the millennial- and Gen Z-focused apparel retailer reported record-setting earnings of 20 cents per share, adjusted earnings of 18 cents per share and talked up the opportunities for the e-commerce business despite COVID-19. “[S]ocial distancing restrictions result in fewer opportunities to purchase outfits for special occasions outside the home, such as dresses, which is REVOLVE’s largest product category,” said …

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