ThredUp falls on forecast cut as inflation hits

ThredUp

09/05/2022 22:28

** Shares of online apparel resale platform  TDUP.O  fall
9.8% to $4.89 in extended trading, after closing 13.4% lower on
Monday
    ** TDUP forecasts fiscal 2022 revenue between $315 mln and
$325 mln vs prior range of $330 mln to $340 mln and a Refinitiv
IBES estimate of $335.90 mln  urn:newsml:reuters.com:*:nGNX9fg2nk
    ** CFO Sean Sobers said on earnings call that it remains
unclear how rising inflation, declines in consumer sentiment,
recession fears and global geopolitical tensions will impact
TDUP's consumer in the near and medium term 
    ** However, TDUP posts a bigger-than-expected 31% increase
in revenue for Q1
    ** TDUP shares have lost more than half their value this
year

 (Reporting by Praveen Paramasivam)
 ((Praveen.Paramasivam@thomsonreuters.com;))