Vinted Profits As ThredUp And Depop Declare Second-Hand The New Cool [Forbes]
ThredUp Inc. - Class A (TDUP)
Company Research
Source: Forbes
The inexorable growth in pre-loved apparel saw online second-hand fashion platform Vinted move into profit for the first time last year, after it reported sales up 61% to around $643 million. The Lithuania-headquartered group said that sales growth had been driven through entering new European markets including Denmark and Finland, its expansion into luxury fashion via the acquisition of upscale pre-loved fashion site Rebelle in 2022, plus the launch of a verification service. Posting its latest results, Vinted said that sales had risen to about $639 million last year, while profit after tax was $19.1 million, reversing a loss of about $21.4 million a year prior. The positive trading update comes after the company, which employs more than 2,000 people, most of whom are based in Lithuania, secured a near $55 million credit facility late last year in order to help fuel expansion, including potentially acquiring other businesses and developing its delivery service, called Vinted G
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TDUP
News
- ThredUp Inc. (NASDAQ: TDUP) had its price target lowered by analysts at Wedbush from $4.00 to $3.00. They now have an "outperform" rating on the stock.MarketBeat
- ThredUp Inc. (NASDAQ: TDUP) had its price target lowered by analysts at Telsey Advisory Group from $4.00 to $3.00. They now have an "outperform" rating on the stock.MarketBeat
- ThredUp Inc. (NASDAQ:TDUP) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- ThredUp Inc. (NASDAQ: TDUP) had its "buy" rating re-affirmed by analysts at Needham & Company LLC. They now have a $5.00 price target on the stock.MarketBeat
- ThredUp (NASDAQ:TDUP) Misses Q1 Sales Targets, Stock Drops [Yahoo! Finance]Yahoo! Finance
TDUP
Earnings
- 5/6/24 - Miss
TDUP
Sec Filings
- 5/14/24 - Form 4
- 5/13/24 - Form 4
- 5/10/24 - Form 144
- TDUP's page on the SEC website