×
6 677
Fashion Jobs
SPORTS DIRECT
Loss Prevention Supervisor
Permanent · LEICESTER
SPORTS DIRECT FITNESS
Assistant General Manager - Everlast Fitness
Permanent · BURY ST EDMUNDS
SPORTS DIRECT FITNESS
General Assistant - Everlast Gyms
Permanent · BURY ST EDMUNDS
SPORTS DIRECT FITNESS
General Manager - Everlast Fitness
Permanent · RUGBY
EVERLAST GYMS
General Manager - Everlast Fitness
Permanent · STOKE-ON-TRENT
AESOP
Retail Consultant | Full-Time | Aesop st James Quarter, Edinburgh, Scotland
Permanent · London
HEAD OFFICE
Merchandise Planner – Food & Grocery Merchandising
Permanent · BRACKNELL
HEAD OFFICE
Digital Product Manager
Permanent · LONDON
NEXT
Delivery Coordinator - Llandudno
Permanent · LLANDUDNO
NEW LOOK
Sales Manager
Permanent · STRETFORD
EVERLAST GYMS
General Assistant - Everlast Fitness
Permanent · NETHERFIELD
CANADA GOOSE
Security Ambassador- Part Time
Permanent · MANCHESTER
JOHN LEWIS
Loss Prevention Partner
Permanent · DARTFORD
HARRODS
Digital Production Manager
Permanent · LONDON
HARRODS
Senior Mechanical & Electrical Project Manager
Permanent · LONDON
NEXT
Delivery Coordinator - Lincoln Valentine Retail Park
Permanent ·
HARVEY NICHOLS BRISTOL
Security Guard - 40hrs
Permanent · BRISTOL
HARVEY NICHOLS KNIGHTSBRIDGE
Brand Consultant - Dries Van Noten
Permanent · LONDON
FRASERS GROUP
HR Administrator
Permanent · SHIREBROOK
SELFRIDGES
Production Manager- Ftc
Permanent · LONDON
NEXT
Delivery Manager - New Malden
Permanent · NEW MALDEN
NEXT
Stock Coordinator - Walton on Thames
Permanent · WALTON-ON-THAMES
Ads
By
Reuters API
Published
Nov 10, 2021
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Poshmark forecasts holiday-quarter revenue below estimates, shares plunge

By
Reuters API
Published
Nov 10, 2021

Poshmark Inc forecast a downbeat holiday quarter after it missed revenue estimates on Tuesday, as the company battles increasing competition in the booming secondhand apparel space.


Poshmark said revenue rose 16% to $79.7 million in the third quarter ended Sept. 30, missing analysts' average estimate of $82.7 million - Photo: Poshmark


Shares in the company, which went public in January, fell 18% in extended trading, a day after rivals ThredUp Inc and RealReal both beat third-quarter revenue estimates.

With traditional retailers facing a shortage of new clothing at stores, competition to attract customers has been intensifying among resale platforms that have been relatively insulated from supply chain issues.

ThredUp forecast fourth-quarter revenue above estimates and said it was lowering prices to attract customers at a time traditional clothing retailers have been increasing rates to counter surging costs and supply bottlenecks.

Deep pocketed and established apparel brands such as Levi Strauss & Co and Urban Outfitters Inc have also launched their own secondhand businesses, furthering competition in the space.
Poshmark, which relies on social media marketing to draw in shoppers, has also been hurt by Apple Inc's new privacy controls, which makes it harder for third-party apps to track iPhone users without their consent.

The company forecast fourth-quarter revenue of $80 million to $82 million, compared with analysts' estimates of $85.2 million, according to IBES data from Refinitiv.

Poshmark said revenue rose 16% to $79.7 million in the third quarter ended Sept. 30, missing analysts' average estimate of $82.7 million.

© Thomson Reuters 2022 All rights reserved.