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Thunder Gold Corp. — Earnings Release 2021
Jan 19, 2021
43660_rns_2021-01-19_3ba5971c-4b28-473c-9ae6-38bad4856f9d.pdf
Earnings Release
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LXRAND CO
LXRandCo Announces Record Preliminary E-Commerce Revenue for Fourth Quarter and Full-Year 2020
Montreal, January 19, 2021 – LXRandCo, Inc. (“LXRandCo” or the “Company”) (TSX: LXR, LXR.WT), a North American omni-channel retailer of branded vintage luxury handbags and accessories, today announced that, based on preliminary fourth quarter revenue estimates, the Company expects record e-commerce revenue in 2020 with total e-commerce revenue for the three-months ended December 31, 2020 and for the twelve-months ended December 31, 2020 of $1.7 million and $4.2 million, respectively, representing increases of 42.8% and 13.7%, respectively, over the prior periods. Total expected revenue, which includes e-commerce and retail channels, is expected to be $3.3 million and $13.2 million for the three-months ended December 31, 2020 and the twelve-months ended December 31, 2020, respectively. The Company’s expected results reflect the Company’s ongoing repositioning of the business from an omni-channel bricks and mortar led strategy to an e-commerce high growth model.
E-Commerce Preliminary Revenue
The following are select preliminary E-commerce revenue highlights for the three-month and twelve-month periods ended December 31, 2020 as compared to prior periods in 2019:
- E-commerce revenue from our website, LXRCO.com is expected to increase by 49.0% in the fourth quarter and 42.4% for the twelve-month period ended December 31;
- Total E-commerce revenue, which includes third-party online revenue from LXR partners, increased 42.8% in the fourth quarter and 13.7% for the twelve-month period ended December 31. Excluding LXR partners that are no longer in business¹ (“Bankrupt Partners”), total E-commerce revenue increased 52.4% in the fourth quarter and 17.2% for the twelve-month period ended December 31; and
- Total E-commerce average order value (“AOV”) is expected to be $908 in the fourth quarter, representing an increase of 10.2%.
E-commerce Revenue and Other Highlights
| Comparable performance (000s) | Three months ended Dec. 31, 2020 | Three months ended Dec. 31, 2019 | Increase/ (Decrease) | Twelve months ended Dec. 31, 2020 | Twelve months ended Dec. 31, 2019 | Increase/ (Decrease) |
|---|---|---|---|---|---|---|
| LXRCO.com | $1,118 | $751 | 49.0% | $2,847 | $2,000 | 42.4% |
| Third-party partners | 532 | 406 | 31.3% | 1,388 | 1,724 | (19.5%) |
| Expected E-commerce Revenue | $1,651 | $1,156 | 42.8% | $4,235 | $3,724 | 13.7% |
| Less: Revenue from Bankrupt Partners¹ | Nil | 73 | 206 | 286 | ||
| Expected E-Commerce Revenue excluding Bankrupt Partners | $1,651 | $1,083 | 52.4% | $4,029 | $3,438 | 17.2% |
| AOV E-commerce | $908.08 | $823.92 | 10.2% | $893.58 | $812.29 | 10.0% |
¹ Refers to LXR e-commerce revenue derived from Lord & Taylor, Stein Mart, and Century 21 retail banners, which filed for bankruptcy in 2020.
Total Expected Revenue
The following are select preliminary total LXR revenue highlights for the three-month and twelve-month periods ended December 31, 2020 as compared to prior periods in 2019:
- Total LXR revenue is expected to decrease by 77.2% in the fourth quarter and by 66.7% for the twelve-month period ended December 31;
- Revenue from Retail (which includes retail and wholesale activities including from Bankrupt Partners) is expected to decrease by 87.6% in the fourth quarter and by 74.3% for the twelve-month period ended December 31; and
- Excluding the total revenue attributable to Bankrupt Partners, total LXR revenue is expected to decrease by 35.7% in the fourth quarter and by 38.4% for the twelve-month period ended December 31.
- E-commerce revenue as a percentage of total revenue is expected to be 50% for the fourth quarter and 32% for the twelve months ended December 31, 2020, representing increases of 42.8% and 13.7%, respectively; and
- As at December 31, 2020, the Company's retail network consisted of 10 stores of which, due to COVID-19 lockdowns, three were in operation compared to 80 stores in operation as at December 31, 2019.
Total Expected Revenue
| Comparable performance (000s) | Three months ended Dec. 31, 2020 | Three months ended Dec. 31, 2019 | Increase/(Decrease) | Twelve months ended Dec. 31, 2020 | Twelve months ended Dec. 31, 2019 | Increase/(Decrease) |
|---|---|---|---|---|---|---|
| E-commerce | $1,651 | $1,156 | 42.8% | $4,235 | $3,724 | 13.7% |
| Retail | 1,649 | 13,299 | (87.6%) | 8,949 | 35,870 | (75.1%) |
| Expected Total Revenue | $3,300 | $14,455 | (77.2%) | $13,184 | $39,595 | (66.7%) |
| Less: Revenue/(returns) from Bankrupt Partners² | (4) | 9,313 | 6,029 | 27,977 | ||
| Expected Total Revenue excluding Bankrupt Partners | $3,304 | $5,142 | (35.7%) | $7,156 | $11,618 | (38.4%) |
| E-commerce Revenue % of Total Expected Revenue | 50% | 8% | 32% | 9% |
² Refers to total LXR revenue derived from Stage Stores, Lord & Taylor, Stein Mart, and Century 21 retail banners, which filed for bankruptcy in 2020.
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About LXRandCo
LXRandCo is a socially responsible, digital-first omni-channel retailer of branded vintage luxury handbags and other personal accessories. We curate, source and authenticate high-quality, pre-owned products from iconic brands such as Hermès, Louis Vuitton, Gucci, Prada and Chanel and sell them at attractive prices through our e-commerce website, www.lxrco.com, as well as the e-commerce platforms of our partners across North America. Our omni-channel model is also supported by retail “shop-in-shop” experience centers and by wholesale activities.
For further information, please contact:
Nadine Eap Chief Financial Officer +1 (514) 564-9993 ext: 037 [email protected]