Luvu Brands Inc. (LUVU)

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Q4 2020 net sales are 37% ahead of prior year; a new quarterly net sales record for the Company

ATLANTA, GA / ACCESSWIRE / July 7, 2020 / Luvu Brands, Inc., (OTCQB:LUVU), a designer, manufacturer and marketer of a portfolio of consumer lifestyle brands, today announced that preliminary unaudited net sales for the three months ended June 30, 2020 were approximately $5.5 million (or approximately 37% higher) than the $4.0 million recorded in the same period of 2019. For the fiscal year ended June 30, 2020, preliminary unaudited net sales were approximately $18.4 million, an increase of approximately 8% from the $17 million reported for the prior fiscal year.

Louis Friedman, the company's founder and Chief Executive Officer said "Orders for our Liberator, Jaxx indoor and outdoor products and Avana PPE and "top of bed" comfort products continue to be strong, as these products are sold primarily through e-commerce and e-merchant channels and are intended for "stay-at-home" use. We ended the fiscal year with $1 million in open orders, and so I am anticipating continued strong sales through at least the three months ending September 30, 2020."