LOS ANGELES , Aug. 6, 2024 /PRNewswire/ -- Revolve Group, Inc. (NYSE: RVLV ), the next-generation fashion retailer for Millennial and Generation Z consumers, today announced financial results for the second quarter ended June 30, 2024 .
"I'm thrilled with our team's performance that fueled a strong second quarter, highlighted by a return to top-line growth and a more than doubling of our net income year-over-year," said co-founder and co-CEO Mike Karanikolas . "Key contributors to our strong results were significantly improved marketing efficiency and greater efficiency in our logistics costs, helped by the first year-over-year decrease in our return rate in more than three years." "It is gratifying to see our team's hard work on growth and efficiency initiatives deliver strong positive results on the top and bottom lines," said co-founder and co-CEO Michael Mente .
"Beyond the numbers, we continue to make great progress on longer-term initiatives that we believe further reinforce our foundation for profitable growth in the years to come, including growing our active customer base, expanding our international presence, increasing our share of wallet through adjacent product categories, leveraging AI technology to even further elevate the customer experience, and exploring physical retail as a new way to connect with the next-generation consumer." Second Quarter 2024 Financial Summary Operational Metrics Additional Second Quarter 2024 Metrics and Results Commentary Trailing 12.