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☆ Thrifting is more popular than ever. It's also never been worse.
▼ + stars: | 2024-03-25 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +12 min

The explosive growth of the resale market and the rise of fast fashion are partly to blame. It's a high that anyone who shops at thrift stores knows — and one that I've been chasing since high school. lechatnoir/Getty ImagesGen Z made thrifting mainstreamBuying used clothing has never been more popular, largely thanks to Gen Z. Still, even as thrifting has grown in popularity, so have fast fashion brands. "Fifteen years ago you would've seen the majority of your secondhand shoppers were most likely more need-based," she said.

Persons: Thrifting, Gen Z, —, I've, Nicole Craig, Arizona State University FIDM, we're, ThredUp, Z, Gen, Danielle Testa, thrifting, millennials, Abercrombie, Craig, Elena Karpova, Testa, Brittany Dickinson, Oleg Cassini, Prada, Jeffrey Greenberg, there's, Dickinson, we've Organizations: Service, Arizona State University, Goodwill, Salvation Army, Fitch, University of North, Goodwill Industries International, Universal, eBay, Urban Outfitters, Free Locations: University of North Carolina, Greensboro, Hendersonville , North Carolina

☆ Jim Cramer says stay clear of this retail stock: 'It is not something you want to own'
▼ + stars: | 2024-02-28 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +2 min

First Solar : Shares rose more than 3% after the solar firm's quarterly earnings topped estimates, and its guidance was formidable. Urban Outfitters : Shares fell 13% after earnings, revenue and same-store sales growth missed Wall Street's expectations. While Cramer complimented the performance of its clothing-rental business, Nuuly, he said investors should not view Urban Outfitters as much more than an industry temperature check. That seems like good news for GE Healthcare , according to Cramer, whose Charitable Trust also owns shares of the medical-equipment maker. GE Healthcare has been the best-performing health-care stock in the S & P 500 in February, "and it's not done," Cramer said.

Persons: Jim Cramer's, Cramer, Eli Lilly Organizations: CNBC, Club, Novo Nordisk, Charitable Trust, Universal Health Services, GE Healthcare, Trust

Shanker also raised his price target to $80 from $75, suggesting nearly 34% downside from Friday's close. — Spencer Kimball 8:16 a.m.: Loop Capital upgrades Corteva, touts growth acceleration in 2025 Corteva's stronger-than-expected 2024 full-year guidance will jumpstart a period of strong growth, according to Loop Capital. The firm upgraded the agricultural chemicals company to buy from hold and increased its price target to $65 from $57. Analyst Jay Sole upgraded Urban to neutral from sell and upped his 12-month price target by $20 to $41. Kaufman's $183 price target indicates roughly 6.3% downside for shares, which have fallen more than 18% over the past year.

Persons: headwinds, Morgan Stanley downgrades XPO, Morgan Stanley, Ravi, Shanker, — Michelle Fox, Julien Dumoulin, Smith, Duke's, — Spencer Kimball, Chris Kapsch, Kapsch, Brian Evans, Cassie Chan, they'll, Chan, —, Jay Sole, URBN, Sole, Urban's, — Pia Singh, Filippo Falorni, Falorni, Hershey, Stanley, Pamela Kaufman, Kaufman's, Hershey's, Kaufman, Graham Doyle, Doyle, Piper Sandler, David Amsellem, Amsellem, Amsellam, Christopher Horvers, Jan, Horvers, Fred Imbert, Dan Levy, Levy Organizations: CNBC, Barclays, Automotive, JPMorgan, Corp, Bank of America, Bank of America downgrades Duke Energy, Duke Energy, Duke, Wall, America, UBS, Urban Outfitters, Free People, Urban, Citi, PepsiCo, Citi Research, Pepsi, Hershey, GE Healthcare Technologies, UBS GE Healthcare Technologies, Pharmaceutical, Teva Pharmaceutical, Federal, Barclays downgrades Rivian, Rivian Automotive, North American EV Locations: Bank of America downgrades, GEHC, David Amsellem U.S

As my living expenses have increased after moving from a condo to a townhouse , I've been assessing how I can spend with more intentionality. I've always prided myself in being somebody who frequently declutters my physical belongings, but four boxes of beauty and wellness products begged to differ. Going into 2024, here are four ways I'm making an effort to spend and save with more intentionality. In that time, I usually find that my desire to buy those items goes down significantly. Build a Budget The best budgeting apps can help you get your finances in order and track your monthly spending.

Persons: I've, Berna Anat, Anat, haven't Organizations: Service, Business, Facebook, Quicken Locations: Berna, O'ahu, Pakistani, Patagonia

☆ Clothing rental service Nuuly reaches profitability, beating rival Rent the Runway to the benchmark
▼ + stars: | 2023-11-21 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +4 min

The milestone marks the first time Nuuly has earned money since its launch in 2019, a goal for the company from the beginning as it looked to prove it could run a clothing rental business profitably. While there is wide demand for clothing rental services, particularly among younger consumers, the logistics of rental have made it difficult to make money, threatening the platforms' viability. watch nowNuuly and Rent's services are similar in that they both offer clothing for rent on a monthly basis for all sorts of occasions. The clothing rental market is still a budding industry. As brands look to convince consumers to rent instead of buy, offering a wide-ranging assortment has proven critical.

Persons: Natalie Rice, Nuuly, David Hayne, we've, Gen Z, Jenn Hyman, Rent, Hayne, Urban's, Richard Hayne Organizations: Natalie Rice Urban Outfitters, CNBC

☆ How Urban Outfitters’ Nuuly is outsmarting Rent the Runway
▼ + stars: | 2023-11-09 | by ( Natalie Rice | ) www.cnbc.com time to read: +3 min

Urban Outfitters Inc., or URBN, has been quietly building a new segment near its headquarters in Philadelphia. Launched in 2019, Nuuly is a clothing rental subscription service that features the company's brands Urban Outfitters, Free People and Anthropologie, as well as more than 400 other brands and designers. Nuuly is set to reach profitability in its third or fourth fiscal quarter of 2023. "Most of the timeframes that we've set up until now, we've been running ahead of," Hayne said. Though Nuuly isn't the first rental service on the market, analysts said there's a lot of opportunity in the nascent space.

Persons: Dave Hayne, Nuuly, Adrienne Yih, we've, " Hayne, Hayne, Yih, Vince Camuto Organizations: Urban Outfitters Inc, Urban Outfitters, Free, Barclays, McKinsey & Company, Analysts, Banana Locations: Philadelphia, URBN's, Kansas City , Missouri, Kansas, Banana Republic

☆ Consumers are still spending, but they're under pressure. These stocks still have room to run
▼ + stars: | 2023-11-06 | by ( Pia Singh | ) www.cnbc.com time to read: +12 min

Persistent inflationary pressures have led to depressed levels of consumer spending all year, according to Bank of America. Consumers are still spending — in fact, they're spending more than they are earning — as employment levels and hourly wage growth remain fairly strong . Some analysts see an opportunity to pick up shares of battered-down retail stocks. According to Barclay's Yih, spending levels "almost have to be worse" next year. LPL's Roach similarly expects consumers spending to hit a roadblock in the coming months.

Persons: bode, Neuberger Berman, Steve Eisman, Jeffrey Roach, Adrienne Yih, Yih, Randy Hare, Ross, Polly Wong, Belardi Wong, James Lewis, Huntington's Hare, Bartlett, Chris Kempczinski, Lewis, …, it's, Anthony Chukumba, Chukumba, Wells, Ike Boruchow, Kathleen Entwistle, Entwistle, LPL's Roach, Morgan Stanley's Entwistle, Barclay's Yih, Roach Organizations: Bank of America, CNBC, Consumers, Barclays, Ross, Huntington National Bank, Bartlett Wealth Management, Walmart, Retailers, Republic, Urban Outfitters, Eagle Outfitters, National, Capital, National Vision, Nike, Ross Stores, Morgan Stanley Private Wealth Management, Investments, Citizens JMP Securities, Delta Air Lines, Deutsche Bank Locations: U.S, Wells Fargo

☆ Rent the Runway CEO started her company as a Harvard graduate student—now it's worth $120 million
▼ + stars: | 2023-07-30 | by ( Megan Sauer | ) www.cnbc.com time to read: +4 min

Rent the Runway co-founder and CEO Jennifer Hyman came up with the idea for her clothing rental company, fittingly, in a closet. Hyman recounted a story from Rent the Runway's early days, when she and Fleiss cold-called designer Diane von Furstenberg. They landed a meeting, but von Furstenberg scoffed at their idea, Hyman said. It was an effective argument, and von Furstenberg was struck by the co-founders' openness and ability to engage in dialogue, said Hyman. Von Furstenberg eventually partnered with the brand and introduced the co-founders to other fashion labels and publicists, Hyman added.

Persons: Jennifer Hyman, Hyman —, —, Bergdorf Goodman, Hyman, She'd, Jennifer Fleiss, It's, Hyman hadn't, Diane von Furstenberg, von Furstenberg scoffed, von Furstenberg, Von Furstenberg Organizations: Harvard University, Stanford Graduate School of, Stanford, Hyman's, Forbes

☆ This startup wants to curb fast fashion by helping you rent out your closet
▼ + stars: | 2023-05-31 | by ( Cait Freda | In Caitfreda | ) www.cnbc.com time to read: +7 min

By Rotation, a U.K.-based clothing rental app, hopes to eliminate the need for fast fashion by making peer-to-peer clothing rental mainstream in the United States. Individual users decide if they are willing to ship their items to users in other states. Despite the expected growth, online fashion rental and resale has proven to be a difficult business, especially on Wall Street. As the app grows, the startup is taking steps to ensure renters are trustworthy and lenders' items are protected from damage. "I wanted to wear nice clothes on my holiday and I thought about renting but there was no sort of digital fashion rental player here in the U.K. or even Europe," she said.

Persons: Eshita Kabra, Davies, Uber, we've, Kabra, Randi Wood, Wood, Martha Petrocheilos, Esther Gross, Ester Gross Organizations: Research, European Environment Agency, Marathon Asset Management Locations: U.K, United States, New York City, U.S, London, Los Angeles, Mexico, Rajasthan, India, Europe, Africa, Asia, New York

☆ Shares of Urban Outfitters spike after fiscal first-quarter earnings beat
▼ + stars: | 2023-05-23 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +2 min

Exterior view of an Urban Outfitters store is seen in Pasadena, California, May 22, 2021. Shares of Urban Outfitters popped about 8% Tuesday after the company reported fiscal first-quarter earnings that beat Wall Street's estimates on the top and bottom lines. Urban Outfitters is one of them. Urban Outfitters, meanwhile, saw margins increase 2.6 percentage points due to higher merchandise markups driven by lower transportation costs. Sales at Urban Outfitters' namesake banner dropped 13% year over year, but sales at its Free People and Anthropologie brands each saw double-digit increases.

Persons: Nuuly, It's Organizations: Urban Outfitters, Outfitters, Refinitiv, Urban, Free People, Free Locations: Pasadena , California

☆ I rented clothes instead of buying new, and saved $53 a month—here's the No. 1 reason I'll keep doing it
▼ + stars: | 2023-04-17 | by ( Megan Sauer | ) www.cnbc.com time to read: +5 min

I started renting used clothes in January, saving me an average of $53 per month so far. Balancing my vanity with an awareness that I needed to budget more effectively, I started renting clothes from Nuuly — a sister company to Urban Outfitters — in January. It hasn't curbed my shopping habits as much as I predicted, but it has saved me money: I spend $53 less per month, on average. But I didn't start renting clothes for my self-esteem. Why I'll keep renting clothes — but not forever

☆ I've been renting all my clothes for over a year. Here's what I love about it — and what everyone should know before trying it.
▼ + stars: | 2023-02-04 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +8 min

I've been renting all my clothes since late 2021 through Nuuly, an online-rental marketplace. It's helped me cut back on shopping, stop buying fast fashion, and focus on quality over quantity. As for me, I'm still hooked on renting over a year later, and I would recommend it to anyone who's thinking about trying it. But I've also uncovered some downsides that have made me rethink everything I thought I knew about clothes. Pro: Renting has made me more thoughtful about qualityPerhaps the biggest endorsement for renting all my clothes is the effect it's had on my mindset.

☆ New & Notable: Latest releases from Apple and more
▼ + stars: | 2022-10-24 | by ( Gabriella Depinho | Gabriella Depinho Is A Production Coordinator For Select On Nbc News. | ) www.nbcnews.com time to read: +4 min

This story is part of Select's New & Notable column, where we highlight our favorite product launches, major sales, what we're buying and some of our latest recommendations and advice. While other larger brands, such as Gap, Adidas and Madewell, have partnered with resale platform ThredUp, Shein opted to launch their own platform. Urban Outfitters launched the clothing resale app Nuuly Thrift in 2021, where customers can sell their used Urban Outfitters clothes via an iOS app. Nuuly users can deposit their earnings into their bank account or earn “Nuuly Cash” which is worth 10% more at Nuuly Thrift, Anthropologie, Free People, Urban Outfitters, BHLDN or Terrain. Wellness tech company Oura, the creator behind the health tracking Oura ring, announced a partnership with Therabody, creator behind the popular Theragun massager.

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