Urban Outfitters jumps on plans to launch resale marketplace

ThredUp

24/08/2021 16:42

** Shares of apparel retailer Urban Outfitters Inc  URBN.O 
up ~3.8% at $40.11
    ** URBN says it will launch Nuuly Thrift, a resale
marketplace where customers can buy or sell apparel and
accessories from any brand, in fall  urn:newsml:reuters.com:*:nGNXjYhN  urn:newsml:reuters.com:*:nFWN2PV0MW
    ** URBN plans to capitalize on shifting customer behavior
and gain market share in the rapidly expanding online resale
market with the launch of Nuuly Thrift - CEO Richard Hayne
    ** Co says Nuuly Thrift will be a sister platform to Nuuly
Rent, its subscription rental service for women's apparel
    ** Three-quarters of customers made secondhand purchases and
nearly half sold secondhand items in the past year - URBN
    ** Shares in second-hand apparel retailer ThredUp  TDUP.O 
and online fashion marketplace Poshmark  POSH.O  rise 2.2% and
0.8%, respectively
    ** URBN is up ~55.14% YTD

 (Reporting by Reshma Rockie George)
 ((Reshma.George@thomsonreuters.com))