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), 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.
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.