85
Fashion Jobs
JO MALONE LONDON
Education Manager, Jml/lm
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Senior HR Operations Executive/ Assistant Manager
Permanent · HO CHI MINH CITY
ADIDAS
Key Account Manager (Franchise)
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager, Commercial, Adigolf, Vietnam 1
Permanent · HO CHI MINH CITY
ADIDAS
Key Account Manager 1 (Franchise)
Permanent · HO CHI MINH CITY
COLUMBIA
lo Costing & Engineering Manager
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Category Manager - Cpd
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Business Planning Manager - Cpd
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager Product Creation (Sportwear)
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Product Manager - Shu Uemura
Permanent · HO CHI MINH CITY
ADIDAS
Manager, Quality Product Integrity
Permanent · HO CHI MINH CITY
TAPESTRY
Manager, Manufacturing Engineer
Permanent · HO CHI MINH CITY
SPECIALIZED
Painting Quality Engineer - Bình Dương, Vietnam
Permanent ·
ON RUNNING
Social Compliance Specialist - Hcm Based
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager, Sourcing Operations
Permanent · HO CHI MINH CITY
WILLIAMS SONOMA
Wood Sustainability Specialist - (Global)
Permanent · THUẬN AN
PUMA
Manager Quality Apparel & Accessories
Permanent · HO CHI MINH CITY
PUMA
Senior Executive, Finance
Permanent · HO CHI MINH CITY
PUMA
Head of Quality Footwear
Permanent · HO CHI MINH CITY
PUMA
Quality Engineer Cobra
Permanent · HO CHI MINH CITY
PUMA
Key Account Manager, Marketplace E-Com
Permanent · HO CHI MINH CITY
ON RUNNING
Head of Footwear Sourcing
Permanent · HO CHI MINH CITY
Published
May 7, 2020
Reading time
2 minutes
Download
Download the article
Print
Text size

The RealReal reports widening losses as Covid-19 disrupts warehouse operations

Published
May 7, 2020

San Francisco-based fashion consignment marketplace The RealReal announced a net loss of $38.3 million for the first quarter ended March 31, 2020, on Wednesday, as restrictions implemented to slow the spread of the coronavirus pandemic disrupted operations in the company’s warehouses.


The RealReal saw a 15% increase in GMV in Q1 - Instagram: @therealreal

 
The figure represented a significantly wider loss compared to that of $23.2 million posted by the company in the prior-year period. Diluted loss per share was $0.44, compared to $3.05 in Q1 2019.
 
Despite the ongoing health crisis, the company’s total quarterly revenue came to $78.2 million, increasing 11% from $70.6 million in the same period in the previous year.

This rise reflected a 17% increase in consignment and service revenue, which totaled $65.3 million, up from $55.6 million, and a 14% decrease in direct revenue, which totaled $12.9 million, down from $15.0 million.
 
Gross merchandise volume (GMV) rose 15% year over year to $257.6 million, with GMV from repeat buyers representing 84.4% of this total, up from 82.4% in the first quarter of 2019.
 
“Since we announced preliminary first quarter results on April 14, our operations continued to be constrained by shelter-in-place directives, resulting in a significant GMV headwind,” said The RealReal CEO Julie Wainwright in a release.  “Given the strength of our balance sheet, customer satisfaction, high buyer and consignor repeat rates, and technology innovations driving efficiency, I’m confident we’re well positioned to bounce back quickly once the economy stabilizes and capitalize on the significant opportunity in front of us.”
 
Wainwright also highlighted a number of initiatives being implemented by the company in order to reduce operating expenses and preserve liquidity in the face of the challenges posed by the coronavirus crisis.
 
In light of the lack of visibility related to the Covid-19 pandemic, The RealReal withdrew its financial guidance on March 17 and has not provided a revised outlook since.

Copyright © 2024 FashionNetwork.com All rights reserved.