Welcome to our dedicated page for Thredup news (Ticker: TDUP), a resource for investors and traders seeking the latest updates and insights on Thredup stock.
ThredUp Inc. reports developments across its online resale marketplace for apparel, shoes and accessories. Company news commonly centers on quarterly results, gross margin, active buyers, orders and cash balances, along with updates to full-year financial outlooks. Its operating model includes a managed marketplace supported by processing infrastructure, proprietary software, systems and data science.
Updates also cover Resale-as-a-Service, the company’s platform for brands and retailers offering resale experiences, and the Universal Recommerce Layer. ThredUp also publishes resale market research and announces governance changes tied to board and audit committee oversight.
Vopero, the fashion resale marketplace in Latin America, has announced a $7.5 million investment from Grupo Axo and thredUP. Founded in November 2020, Vopero aims to scale its operations in Mexico and Latin America, leveraging the resources of its investors. Since its launch less than a year ago, Vopero has onboarded over 3,000 sellers and achieved a 70% repeat customer rate, processing more than 80,000 secondhand products. The company focuses on promoting sustainability and democratizing access to fashion through its technology platform.
ThredUp Inc. (Nasdaq: TDUP) will announce its third-quarter financial results for 2021 on November 8, 2021, after the U.S. market closes. A conference call will follow at 1:30 p.m. PT / 4:30 p.m. ET, available via phone for U.S. and international participants. ThredUp, a leading online resale platform for women's and kids' apparel, is focused on promoting sustainable fashion by facilitating secondhand shopping. The company has processed over 125 million secondhand items, driving its mission to inspire consumers to choose secondhand first.
On October 7, 2021, adidas launched its Choose to Give Back program, aimed at promoting the circular lifecycle of apparel and footwear by enabling consumers to send back used items for resale or reuse. Powered by thredUP's Resale-as-a-Service platform, participants can send in any brand's apparel through the adidas Creator's Club app. The initiative addresses the fashion industry's significant waste problem, with 36 billion clothing items discarded annually in the U.S. adidas aims for circularity in sportswear while incentivizing users with rewards.
ThredUp Inc. (NASDAQ: TDUP) announced a significant expansion with a new flagship distribution center in Lancaster, Texas, investing $70 million and creating 2,000 jobs. This nearly 600,000 square foot facility will be thredUP's largest, featuring automation and over double the item capacity, reaching 16.5 million items across its network. Expected to begin processing in Q2 2022, the center will initially handle 500,000 items. This move reflects thredUP's commitment to meet growing demand for secondhand apparel and enhance its resale operations.
OAKLAND, Calif. and LOS ANGELES, Sept. 15, 2021 /PRNewswire/ -- Michael Stars partners with ThredUp (NASDAQ: TDUP) to provide a resale platform via ThredUp's Resale-as-a-ServiceⓇ (RaaSⓇ). This initiative aims to minimize clothing waste, with 95% of apparel potentially recyclable or reusable. Michael Stars joins other prominent brands like GAP and Madewell in adopting ThredUp’s technology, enhancing their circularity approach. Customers can clean out their wardrobes and receive compensation for quality items sent to ThredUp. The effort aligns with Michael Stars' commitment to sustainability and reduction of environmental impact.
ThredUp Inc. (Nasdaq: TDUP), a leading online resale platform for women’s and kids’ apparel, has announced that CEO James Reinhart and CFO Sean Sobers will participate in the 4th Annual Wells Fargo Consumer Conference on September 22, 2021, from 12:00 - 12:40 PM PT / 3:00 - 3:40 PM ET.
The event will be webcast live on thredUP’s investor website, with a replay available for 30 days afterward. ThredUp aims to inspire a sustainable shopping culture by facilitating secondhand sales, having processed over 125 million items from 35,000 brands.
ThredUp Inc. (NASDAQ: TDUP) announced that its IPO lock-up agreements will affect share sales. All directors and executive officers signed agreements restricting share sales until September 21, 2021. However, 20% of shares held by other employees became eligible for public sale starting May 12, 2021. Remaining shares under lock-up will be available for sale on August 27, 2021. ThredUp is a leading online resale platform for women's and kids' apparel, promoting sustainability and offering significant discounts.
ThredUp, a leading online resale platform, reported another record quarter with a 27% year-over-year revenue growth, reaching $60 million. Gross margins expanded to 74%, contributing to a gross profit of $44 million, a 34% increase year-over-year. The company announced plans for international expansion with the acquisition of Remix in Europe, and established new Resale-as-a-Service® partnerships with major brands. However, ThredUp reported a net loss of $14.4 million for the quarter.
ThredUp Inc. (Nasdaq: TDUP), a leading online resale platform for women's and kids' apparel, announced that CEO James Reinhart and CFO Sean Sobers will participate in the KeyBanc Technology Leadership Forum on August 12, 2021, from 9:00-9:30 AM PT. The event will be streamed live on thredUP’s investor website, with a replay available for 30 days. ThredUp aims to inspire consumers to prioritize secondhand shopping, boasting over 125 million processed items and a mission to promote sustainability in fashion.
ThredUp Inc. (Nasdaq: TDUP) announced the pricing of a public offering of 6,424,369 shares of its Class A common stock, priced at $24.25 per share. The offering includes 2,000,000 shares from ThredUp and 4,424,369 shares from existing stockholders. Underwriters have a 30-day option to buy 963,655 additional shares. Proceeds will be used for working capital and growth strategies. The offering is expected to close on August 2, 2021. ThredUp will not receive proceeds from shares sold by existing stockholders.