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    TDUP   US88556E1029

THREDUP INC.

(TDUP)
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ThredUp : American Eagle online sales fall as in-store shopping spree rebounds

09/02/2021 | 11:44am EST
A view of an American Eagle Outfitters store in Arlington, Virginia

(Reuters) - American Eagle Outfitters Inc's quarterly revenue missed estimates on Thursday as its online sales took a hit from shoppers returning to physical stores on easing pandemic curbs, sending the shares of the apparel chain down 10%.

The company's second-quarter digital sales fell 5% from a year earlier, also hit by stiff e-commerce competition from firms including Amazon.com Inc and Poshmark, although it remained higher compared with pre-pandemic levels.

Revenue came under pressure from back-to-school selling season and some tax-free shopping events moving to the third quarter, American Eagle executives said on the earnings call.

American Eagle, which last month acquired logistics startup AirTerra, said it hopes to make digital sales account for half of its revenue in the longer term, up from 35% in the second quarter.

However, the owner of Aerie brand said it expects a robust holiday season by booking products early and spending more on transporting goods to its stores, even as it grapples with industry-wide supply chain issues.

Total net revenue rose 35% to $1.19 billion in the second quarter ended July 31, missing Refinitiv-IBES estimates of $1.23 billion. However, it rose about 15% from pre-pandemic levels in 2019, below the median increase reported by U.S. consumer companies tracked by BMO Capital Markets analysts.

(Reporting by Praveen Paramasivam and Reshma Rockie George in Bengaluru; Editing by Ramakrishnan M.)

By Praveen Paramasivam and Reshma George


ę Reuters 2021
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Analyst Recommendations on THREDUP INC.
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Financials (USD)
Sales 2021 249 M - -
Net income 2021 -60,4 M - -
Net cash 2021 224 M - -
P/E ratio 2021 -25,4x
Yield 2021 -
Capitalization 1 712 M 1 712 M -
EV / Sales 2021 5,97x
EV / Sales 2022 4,47x
Nbr of Employees 1 862
Free-Float 53,4%
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Mean consensus BUY
Number of Analysts 12
Last Close Price 17,56 $
Average target price 28,55 $
Spread / Average Target 62,6%
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Managers and Directors
James Reinhart Chief Executive Officer & Director
Anthony S. Marino President
Sean Sobers Chief Financial Officer
Patricia Nakache Chairman
Chris Homer Chief Operating Officer
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