Stock Story -
Online fashion resale marketplace ThredUp (NASDAQ:TDUP) will be reporting earnings tomorrow after market hours. Here's what investors should know.
ThredUp met analysts' revenue expectations last quarter, reporting revenues of $79.59 million, up 4.8% year on year. It was a weak quarter for the company, with a miss of analysts' earnings estimates and revenue guidance for next quarter missing analysts' expectations.
Is ThredUp a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting ThredUp's revenue to be flat year on year at $82.48 million, slowing from the 8.2% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.11 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. ThredUp has missed Wall Street's revenue estimates twice over the last two years.
Looking at ThredUp's peers in the apparel, accessories and luxury goods segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Levi's delivered year-on-year revenue growth of 7.8%, meeting analysts' expectations, and Kontoor Brands (NYSE:KTB) reported a revenue decline of 1.5%, topping estimates by 2.3%. Levi's traded down 15.7% following the results while Kontoor Brands was also down 1.6%.
Read the full analysis of Levi's and Kontoor Brands's results on StockStory.
There has been positive sentiment among investors in the apparel, accessories and luxury goods segment, with share prices up 3.3% on average over the last month. ThredUp is up 8.2% during the same time and is heading into earnings with an average analyst price target of $4 (compared to the current share price of $1.84).
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