ThredUp gains on strong annual revenue forecast

ThredUp

06/03/2023 21:51

** Shares in online apparel resale platform ThredUp Inc
 TDUP.O  up ~11% at $1.80 after the bell
    ** Company forecasts annual revenue above estimates on
strong demand for second-hand apparel and accessories
    ** TDUP sees 2023 revenue between $310 mln and $320 mln,
compared with analysts' average estimate of $301.7 mln, per
Refinitiv IBES data
    ** Company expects Q1 revenue of $71 mln to $73 mln,
compared with estimates of $69.6 mln
    ** TDUP also beats Q4 revenue estimates 
    ** Sees annual gross margin in the range of 66% to 68%
    ** Up to Monday's close, stock had fallen ~77% in the last
12 months

 (Reporting by Ananya Mariam Rajesh in Bengaluru)
 ((AnanyaMariam.Rajesh@thomsonreuters.com ; Twitter: https://twitter.com/AnanyaMariam))