Q3 Earnings Highlights: ThredUp (NASDAQ:TDUP) Vs The Rest Of The Apparel and Accessories Stocks

As the Q3 earnings season comes to a close, it’s time to take stock of this quarter’s best and worst performers in the apparel and accessories industry, including ThredUp (NASDAQ:TDUP) and its peers.

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

The 16 apparel and accessories stocks we track reported a strong Q3. As a group, revenues beat analysts’ consensus estimates by 1.8% while next quarter’s revenue guidance was 0.9% below.

In light of this news, share prices of the companies have held steady as they are up 1.9% on average since the latest earnings results.

ThredUp (NASDAQ:TDUP)

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

ThredUp reported revenues of $82.16 million, up 33.6% year on year. This print exceeded analysts’ expectations by 5.9%. Overall, it was an exceptional quarter for the company with a solid beat of analysts’ adjusted operating income estimates and full-year revenue guidance exceeding analysts’ expectations.

“In Q3, we are proud to have delivered our fourth consecutive quarter of accelerating revenue growth, driven by exceptional new buyer acquisition and order growth,” said ThredUp CEO and co-founder James Reinhart.

ThredUp achieved the fastest revenue growth of the whole group. Investor expectations, however, were likely higher than Wall Street’s published projections, leaving some wishing for even better results (analysts’ consensus estimates are those published by big banks and advisory firms, not the investors who make buy and sell decisions). The stock is down 36.7% since reporting and currently trades at $5.38.

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

Best Q3: 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 $151.7 million, up 8.2% year on year, outperforming analysts’ expectations by 6.4%. The business had an incredible quarter with a beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.

The market seems happy with the results as the stock is up 53.3% since reporting. It currently trades at $11.53.

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

Slowest Q3: Movado (NYSE:MOV)

With its watches displayed in 20 museums around the world, Movado (NYSE:MOV) is a watchmaking company with a portfolio of watch brands and accessories.

Movado reported revenues of $186.1 million, up 3.1% year on year, in line with analysts’ expectations. It was a softer quarter as it posted a significant miss of analysts’ EPS estimates.

Interestingly, the stock is up 10.7% since the results and currently trades at $21.50.

Read our full analysis of Movado’s results here.

Columbia Sportswear (NASDAQ:COLM)

Originally founded as a hat store in 1938, Columbia Sportswear (NASDAQ:COLM) is a manufacturer of outerwear, sportswear, and footwear designed for outdoor enthusiasts.

Columbia Sportswear reported revenues of $943.4 million, up 1.3% year on year. This print surpassed analysts’ expectations by 2.7%. Taking a step back, it was a slower quarter as it recorded full-year EPS guidance missing analysts’ expectations significantly and a significant miss of analysts’ EPS estimates.

The stock is up 1.3% since reporting and currently trades at $52.17.

Read our full, actionable report on Columbia Sportswear here, it’s free.

Guess (NYSE:GES)

Flexing the iconic upside-down triangle logo with a question mark, Guess (NYSE:GES) is a global fashion brand known for its trendy clothing, accessories, and denim wear.

Guess reported revenues of $791.4 million, up 7.2% year on year. This number beat analysts’ expectations by 2.5%. Overall, it was an exceptional quarter as it also produced a beat of analysts’ EPS estimates and an impressive beat of analysts’ adjusted operating income estimates.

The stock is down 1.1% since reporting and currently trades at $16.86.

Read our full, actionable report on Guess here, it’s free.

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