ThredUp rises as new Dallas facility to boost storage capacity

ThredUp

21/09/2021 18:24

** Shares in online second-hand apparel seller  TDUP.O  rise
3% to $19.05
    ** ThredUp says will invest $70 mln to open a flagship
distribution center that can store as many as 10 mln items in
the Dallas area, as demand for second-hand apparel grows
    ** It expects to begin processing items in the new facility
in Q2 2022, initially with 300 workers and a capacity of 500,000
items
    ** TDUP expects the facility to expand its item capacity by
150% across its distribution center network to 16.5 mln items
and bring 2,000 jobs to Dallas-Fort Worth
    ** It currently has distribution centers in Mechanicsburg,
Pennsylvania; Phoenix, Arizona; and Suwanee, Georgia, according
to its website https://bit.ly/3CxMvOD
    ** Shares have gained 36% from March IPO price

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