With supply-chain bottlenecks hitting apparel makers and inflation squeezing shoppers, now might seem like the time for used-clothing sellers to shine. The market doesn’t quite see it that way.
Luxury consignor RealReal on Tuesday reported that sales through its platform, known as gross merchandise value, grew 31% in the first quarter compared with a year earlier, better than Wall Street expectations. Gross profit grew a healthy 35%. ThredUp , which sells more-generic brands, said on its earnings call Monday that it saw 31% growth in revenue over the same period, a number that was in line with analyst expectations. Its gross profit growth of 26% was better than expected, helped by improved logistics as the company got better at consolidating orders before they were shipped.
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