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ThredUp Inc. (NASDAQ: TDUP) is a pioneering force in the apparel resale industry, providing an innovative online marketplace for women's and kids' like-new clothing, shoes, and accessories. Established in 2009 by James Reinhart, Chris Homer, and Oliver Lubin, ThredUp has revolutionized the way consumers perceive and purchase secondhand items by encouraging a 'secondhand first' mentality.
Underpinned by a mission to create a sustainable future in fashion, ThredUp offers over 25,000 brands, from everyday names like Gap to high-end luxury such as Gucci, at discounts of up to 90% off retail prices. The company is known for its Clean Out Bag, a convenient solution for individuals to sell their unwanted clothing and accessories. This service has streamlined the resale process and empowered consumers to contribute to an eco-friendly lifestyle.
ThredUp's operational excellence and cutting-edge technology have cemented its status as one of the world's largest online resale platforms. The company's proprietary operating platform includes a distributed processing infrastructure, advanced software, and robust data science capabilities. This ensures a seamless and scalable experience for both buyers and sellers.
Recently, ThredUp released its second annual Impact Report, highlighting its commitment to environmental, social, and governance (ESG) initiatives. The report, guided by the Global Reporting Initiative (GRI) and Sustainable Accounting Standards Board (SASB) standards, outlines ThredUp's ESG strategy and accomplishments throughout 2022. The company is dedicated to transparency and continual improvement in its business practices, with a strong focus on sustainability.
In addition to its marketplace, ThredUp offers Resale-as-a-Service® (RaaS®), enabling leading fashion brands and retailers to integrate customizable resale experiences into their own offerings. Through partnerships with brands like Rebag, ThredUp is expanding its reach and enhancing its market presence, providing consumers with flexible, scalable, and sustainable shopping options.
With over 172 million unique secondhand items processed from 55,000 brands across 100 categories, ThredUp is not just a marketplace but a movement towards more responsible fashion consumption. The company's efforts in driving circular fashion and extending the lifecycle of clothing have not only garnered consumer appreciation but have also positioned ThredUp as a key player in the $30 billion apparel resale industry.
Headquartered in Oakland, California, ThredUp continues to push the boundaries of the resale market, with a passionate team committed to innovation and sustainability. For more information, visit thredup.com/jobs.
ThredUp Inc. (Nasdaq: TDUP) will join the Russell 3000 Index effective June 27, 2022, as part of the annual reconstitution of Russell indexes. This inclusion recognizes ThredUp's position among the 4,000 largest US stocks by market capitalization. As a member of the Russell 3000, ThredUp is also automatically included in key sub-indexes such as the Russell 1000 and Russell 2000. CEO James Reinhart stated that this milestone will enhance the company's visibility within the investment community, aligning with their mission to promote sustainable secondhand shopping.
ThredUp Inc. (Nasdaq: TDUP), a leading online resale platform, announced that CEO James Reinhart and CFO Sean Sobers will present at the William Blair 42nd Annual Growth Stock Conference on June 6, 2022, from 2:40-3:10 PM PT. The event aims to showcase the company’s innovative approach to sustainable fashion and technology-driven resale.
ThredUp processes over 125 million secondhand items from 35,000 brands and promotes a sustainable shopping model, helping consumers access premium brands at up to 90% off retail prices.
thredUP (NASDAQ: TDUP) released its 2022 Resale Report, indicating that the U.S. secondhand market will more than double by 2026, reaching $82 billion. The report highlights the growth in online resale, projected to quadruple, making it the fastest-growing sector. Notably, 58% of consumers found secondhand shopping helpful during inflation, with 80% buying more secondhand items. Brands embracing resale have grown 275% since 2020, showcasing a shift in consumer behavior towards sustainable shopping.
ThredUp Inc. (Nasdaq: TDUP) reported a strong first quarter of 2022 with revenues of $72.7 million, marking a 31% increase year-over-year. Gross profit rose 26% to $50.2 million, with a gross margin of 69.1%. The company achieved a record of 1.7 million active buyers and processed 1.6 million orders, up 33% and 45%, respectively. However, ThredUp incurred a net loss of $20.7 million, slightly worsening from the previous year's loss. The company continues to invest in expanding its processing capabilities and enhancing its Resale-as-a-Service offerings.
thredUP (NASDAQ: TDUP) has launched the Recommerce 100, a monthly index tracking brands' resale programs and their environmental impact. The index shows that in 2022, the number of new resale shops is projected to surpass previous totals, with 41 brands having 133K listings. Small brands lead the way, while larger brands are underperforming with resale penetration under 0.1% of total revenue. By 2025, resale is expected to grow 11 times faster than retail. The Recommerce 100 will be updated monthly, with the next update in May.
ThredUp Inc. (TDUP), a leading online resale platform for women's and kids' apparel, will release its financial results for Q1 2022 on May 9, 2022, post-market close. A conference call will be held on the same day at 1:30 p.m. PT / 4:30 p.m. ET, accessible via designated phone lines and webcast. The company focuses on promoting secondhand shopping, featuring over 125 million unique items from 35,000 brands. ThredUp's platform allows both buyers and sellers to engage sustainably, with potential savings of up to 90% on retail prices.
Pacsun has launched the Pre-Loved Pac, a 360-resale program in partnership with thredUP (NASDAQ: TDUP), allowing customers to exchange gently-used clothing for store credit and purchase secondhand items online. This initiative uses thredUP's Resale-as-a-Service to establish a digital resale channel, enhancing Pacsun's commitment to sustainability. The secondhand market is projected to grow 11 times faster than traditional retail by 2025, driven largely by millennials and Gen Z.
ThredUp Inc. (TDUP) reported a record quarterly revenue of $72.9 million for Q4 2021, a 68% increase YoY, with a gross margin of 66% and gross profit growth of 62%. The company achieved an annual revenue of $251.8 million, growing 35% YoY. Notable highlights include 1.7 million active buyers and 5.3 million total orders in 2021, marking 36% and 34% growth respectively. ThredUp expects 2022 revenue between $330 million and $340 million and is enhancing its infrastructure through new processing centers and strategic partnerships.
ThredUp Inc. (Nasdaq: TDUP), a leading resale platform for women’s and children’s apparel, announced participation in the Morgan Stanley Technology, Media & Telecom Conference on March 9, 2022. CEO James Reinhart and CFO Sean Sobers will be speaking from 11:30 AM to 12:00 PM PT (2:30 PM to 3:00 PM ET). The event can be viewed live on ThredUp's investor website, with a replay available for 30 days. ThredUp is revolutionizing resale through technology, promoting sustainable shopping while offering significant discounts on premium brands.
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