Fashion resale site ThredUp jumps after FY sales outlook raise, Q3 beat

ThredUp

09/11/2021 11:44

** Second-hand apparel seller's shares  TDUP.O  jump ~25% to
$23.95 premarket, set to open at a near 3-month high
    ** Stock on track to snap four straight sessions of losses
    ** TDUP raised its annual sales forecast after the bell on
Monday after beating expectations for Q3 results
    ** TDUP now sees fiscal 2021 revenue between $248 mln and
$250 mln, up from its prior outlook range of $236 mln-$241
mln urn:newsml:reuters.com:*:nGNX54YVsH urn:newsml:reuters.com:*:nL8N2PH6QA
    ** Co's Q3 revenue rose 35% to $63.3 mln, vs estimate of
$61.8 mln, according to Refinitiv IBES 
    ** "Supply continues to appear endless, demand for
secondhand is increasing with more first-time buyers trying
thredUP," CEO James Reinhart says
    ** Brokerage Wedbush raises PT on TDUP to $29 from $25 while
Piper Sandler ups PT by $1 
    ** Up to Monday's close, TDUP up ~37% from its March IPO
price

 (Reporting by Deborah Sophia in Bengaluru)
 ((DeborahMary.Sophia@thomsonreuters.com;))