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Apparel, Accessories and Luxury Goods Stocks Q1 Recap: Benchmarking ThredUp (NASDAQ:TDUP)


Jabin Bastian /
2024/07/09 3:46 am EDT

The end of an earnings season can be a great time to discover new stocks and assess how companies are handling the current business environment. Let’s take a look at how ThredUp (NASDAQ:TDUP) and the rest of the apparel, accessories and luxury goods stocks fared in Q1.

Within apparel and accessories, not only do styles change more frequently today than decades past as fads travel through social media and the internet but consumers are also shifting the way they buy their goods, favoring omnichannel and e-commerce experiences. Some apparel, accessories, and luxury goods companies have made concerted efforts to adapt while those who are slower to move may fall behind.

The 17 apparel, accessories and luxury goods stocks we track reported an ok Q1; on average, revenues were in line with analyst consensus estimates. while next quarter's revenue guidance was 2.2% below consensus. Stocks--especially those trading at higher multiples--had a strong end of 2023, but 2024 has seen periods of volatility. Mixed signals about inflation have led to uncertainty around rate cuts, and apparel, accessories and luxury goods stocks have held roughly steady amidst all this, with share prices up 0.5% on average since the previous earnings results.

ThredUp (NASDAQ:TDUP)

Founded to revolutionize thrifting, ThredUp (NASDAQ:TDUP) is a leading online fashion resale marketplace that offers a wide selection of gently-used clothing and accessories.

ThredUp reported revenues of $79.59 million, up 4.8% year on year, falling short of analysts' expectations by 0.9%. It was a weak quarter for the company, with a miss of analysts' earnings estimates and revenue guidance for next quarter missing analysts' expectations.

“We delivered another quarter of strong financial performance, demonstrating healthy gross profit growth and bottom-line leverage,” said ThredUp CEO and co-founder James Reinhart.

ThredUp Total Revenue

ThredUp delivered the weakest full-year guidance update of the whole group. The stock is down 7.5% since the results and currently trades at $1.73.

Read our full report on ThredUp here, it's free.

Best Q1: Figs (NYSE:FIGS)

Rising to fame via TikTok and founded in 2013 by Heather Hasson and Trina Spear, Figs (NYSE:FIGS) is a healthcare apparel company known for its stylish approach to medical attire and uniforms.

Figs reported revenues of $119.3 million, down 0.8% year on year, outperforming analysts' expectations by 1.6%. It was a very strong quarter for the company, with an impressive beat of analysts' earnings estimates and a narrow beat of analysts' active customers estimates.

Figs Total Revenue

The stock is down 6.9% since the results and currently trades at $5.24.

Is now the time to buy Figs? Access our full analysis of the earnings results here, it's free.

VF Corp (NYSE:VFC)

Owner of The North Face, Vans, and Supreme, VF Corp (NYSE:VFC) is a clothing conglomerate specializing in branded lifestyle apparel, footwear, and accessories.

VF Corp reported revenues of $2.37 billion, down 13.4% year on year, falling short of analysts' expectations by 1.5%. It was a weak quarter for the company, with a miss of analysts' earnings and constant currency revenue estimates.

The stock is up 8.9% since the results and currently trades at $13.45.

Read our full analysis of VF Corp's results here.

Levi's (NYSE:LEVI)

Credited for inventing the first pair of blue jeans in 1873, Levi's (NYSE:LEVI) is an apparel company renowned for its iconic denim products and classic American style.

Levi's reported revenues of $1.44 billion, up 7.8% year on year, falling short of analysts' expectations by 0.7%. It was a decent quarter for the company, with an impressive beat of analysts' earnings estimates but underwhelming earnings guidance for the full year.

Levi's pulled off the fastest revenue growth among its peers. The stock is down 18.1% since the results and currently trades at $18.99.

Read our full, actionable report on Levi's here, it's free.

Carter's (NYSE:CRI)

Rumored to sell more than 10 products for every child born in the United States, Carter's (NYSE:CRI) is an American designer and marketer of children's apparel.

Carter's reported revenues of $661.5 million, down 4.9% year on year, surpassing analysts' expectations by 3.3%. It was a mixed quarter for the company, with underwhelming earnings guidance for the next quarter.

The stock is down 12.4% since the results and currently trades at $62.69.

Read our full, actionable report on Carter's here, it's free.

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