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.
ThredUp Inc. (Nasdaq: TDUP) announced a public offering of 6,424,369 shares of its Class A common stock, which includes 2,000,000 shares to be sold by the company and 4,424,369 by existing stockholders. The offering may be adjusted based on market conditions, and underwriters have a 30-day option to purchase an additional 963,655 shares. Proceeds will support ThredUp's working capital and growth strategies. The firm will not receive funds from the shares sold by stockholders. Goldman Sachs, Morgan Stanley, and Barclays are leading the offering.
ThredUp (NASDAQ: TDUP) announced the acquisition of Remix Global AD, accelerating its expansion into Europe, a market projected to grow from $21 billion in 2020 to $39 billion by 2025. The transaction, valued at approximately $28.5 million plus $6.5 million in restricted stock units, aims to enhance ThredUp's Resale-as-a-Service platform. Remix will continue as an independent entity, with CEO Lyubomir Klenov leading European initiatives. This acquisition is expected to be accretive to revenue but dilutive to gross margin in the near term.
ThredUp Inc. (Nasdaq: TDUP) will release its financial results for Q2 2021 on August 10, 2021, after U.S. market close. A conference call is scheduled for 1:30 p.m. PT / 4:30 p.m. ET, accessible via designated phone numbers for U.S. and international callers. ThredUp is a leading online resale platform focusing on women's and kids' apparel, advocating for secondhand shopping and sustainability. The company has processed over 125 million secondhand items, promoting a circular economy in fashion.
On July 15, 2021, LG Electronics USA and ThredUp Inc. (TDUP) announced a strategic partnership to launch an apparel clean out program powered by ThredUp's Resale-as-a-Service® (RaaS®). This initiative, part of LG's 'Second Life' campaign, enables customers to donate unwanted clothing easily while ThredUp helps to resell these items, promoting sustainability in fashion. For every Donation Clean Out Kit received, $5 will be donated to a chosen charity. With this collaboration, ThredUp expands its client reach beyond traditional fashion retailers.
FARFETCH Limited (NYSE: FTCH) has partnered with thredUP (NASDAQ: TDUP) to launch a donation program in the US, utilizing thredUP's Resale-as-a-Service to allow customers to donate items while earning shopping credit. Following a successful UK launch in 2019, this initiative aims to promote sustainability in fashion by extending the life of clothing. Customers will use FARFETCH-branded 'Clean Out Kits' to send items to thredUP, with at least 50% of the payout donated to charities of their choice. This move aligns with FARFETCH's commitment to sustainability goals by 2030.
ThredUp Inc. (NASDAQ: TDUP) has released its 2021 Resale Report, conducted by GlobalData, projecting the U.S. secondhand market to double in the next five years, reaching $77 billion. Key findings indicate that the resale sector grew during the pandemic, with a current market valuation of $36 billion, growing 11 times faster than retail clothing. Notably, 33 million consumers bought secondhand for the first time in 2020, and 62% of retail executives view resale as vital for future business. ThredUp aims to promote sustainability and Circular Fashion, emphasizing its role in this emerging market.
ThredUp Inc. (TDUP), a leading resale platform for women's and kids' apparel, has announced participation in the Wells Fargo Virtual 'Bricks to Clicks' Digital Conference. CEO James Reinhart and CFO Sean Sobers will present on June 24, 2021, from 11:00 AM - 11:30 PM PT (2:00 - 2:30 PM ET). The event will be streamed live on thredUP’s investor website, with replay available for 30 days. ThredUp aims to inspire consumers to consider secondhand shopping, having processed over 100 million items since inception, promoting sustainability in the fashion industry.
ThredUp Inc. (Nasdaq: TDUP), a leading resale platform for women's and kids' apparel, shoes, and accessories, announced participation in three investor conferences in June 2021. CEO James Reinhart and CFO Sean Sobers will represent the company at:
- William Blair Growth Stock Conference - June 2, 2:40 PM PT
- Piper Sandler 41st Annual Consumer Marketplace Conference - June 3, 10:40 AM PT
- Morgan Stanley Sustainable Futures Conference - June 9, 5:00 AM PT
The events will be available via live webcast on ThredUp's investor website.
ThredUp Inc. (Nasdaq: TDUP) reported a record quarterly revenue of $56 million for Q1 2021, with a gross profit of $40 million and a gross margin of 71%. Active Buyers increased to 1.29 million, leading to 1.13 million orders. Despite these gains, the company recorded a GAAP net loss of $16.2 million, or 29% of revenue. The IPO raised $175.5 million. Looking ahead, ThredUp projects revenue between $53 million and $55 million for Q2 2021, and between $223 million and $229 million for the full year. Gross margin is expected to remain between 70% and 72% for the fiscal year.
ThredUp Inc. (NASDAQ: TDUP), a leading resale platform, announced a collaboration with Vera Bradley to power resale via its Resale-as-a-Service (RaaS) model. This partnership coincides with findings from thredUP's 2021 Resale Report, indicating 80% of U.S. consumers plan to refresh their wardrobes post-pandemic. Vera Bradley will offer thredUP Clean Out Kits, allowing customers to send in items for resale, receiving gift cards in return. The RaaS model emphasizes sustainability while catering to a growing market interest in secondhand goods.