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Stock Alert: Revolve Group Shares Down 13%

Shares of Revolve Group, Inc. (RVLV) are tanking in initial trading, despite a slight increase in net profit for the fourth quarter. The next-generation fashion retailer have been trading down for the 52-week period and further slumped to around $16 on Wednesday's opening. Fashion companies have been hit by the disruptions of the coronavirus outbreak.

RVLV is currently trading at $16.80, down 13.00 percent from the previous close of $19.31 on Tuesday.

The company reported fourth-quarter net profit of $8.41 million or $0.12 per share, up from $7.699 million or $0.11 per share in the prior year. Net sales for the quarter increased to $147.56 million from $127.72 million a year ago.

Looking ahead, the company expects net sales growth of 13-17 percent to $679 to $703 million for the full year 2020.

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