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Apparel and Accessories Q3 Earnings: Figs (NYSE:FIGS) Simply the Best

FIGS Cover Image

The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s take a look at how apparel and accessories stocks fared in Q3, starting with Figs (NYSE: FIGS).

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 2.1% while next quarter’s revenue guidance was in line.

In light of this news, share prices of the companies have held steady. On average, they are relatively unchanged since the latest earnings results.

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. This print exceeded analysts’ expectations by 6.4%. Overall, it was an incredible quarter for the company with a beat of analysts’ EPS and EBITDA estimates.

Figs Total Revenue

Interestingly, the stock is up 51% since reporting and currently trades at $11.36.

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

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, outperforming analysts’ expectations by 5.9%. The business had an exceptional quarter with a solid beat of analysts’ adjusted operating income estimates and full-year revenue guidance exceeding analysts’ expectations.

ThredUp Total Revenue

ThredUp pulled off the fastest revenue growth among its peers. Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 24.8% since reporting. It currently trades at $6.40.

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

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 6.2% since the results and currently trades at $20.64.

Read our full analysis of Movado’s results here.

Ralph Lauren (NYSE: RL)

Originally founded as a necktie company, Ralph Lauren (NYSE: RL) is an iconic American fashion brand known for its classic and sophisticated style.

Ralph Lauren reported revenues of $2.01 billion, up 16.5% year on year. This number beat analysts’ expectations by 6.5%. Overall, it was a very strong quarter as it also recorded a solid beat of analysts’ constant currency revenue estimates and a solid beat of analysts’ revenue estimates.

Ralph Lauren delivered the biggest analyst estimates beat among its peers. The stock is up 11.7% since reporting and currently trades at $353.92.

Read our full, actionable report on Ralph Lauren here, it’s free for active Edge members.

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 $2.80 billion, up 1.6% year on year. This print surpassed analysts’ expectations by 2.4%. It was a strong quarter as it also put up a beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.

The stock is up 9% since reporting and currently trades at $18.10.

Read our full, actionable report on VF Corp here, it’s free for active Edge members.


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