Sunday Stock: Ref inc.

Author: Izzy Darras | Graphics: Tessie Ulman

Reformation Inc (NYSE: REF)

Share Price $14.03 USD

Market Cap $828.839M USD

Background: Founded by Yael Aflalo in Los Angeles in 2009, Reformation is a stylish and sustainable fashion brand. Reformation started by retailoring vintage clothing in the back of its first store, then eventually expanded into making its own pieces. Its sustainability mission is at the center of all operations: to prove clothes can be desirable and sustainable at the same time. The brand grew significantly in 2013 when it went online and opened its own LA factory. They built a strong reputation for tracking each product's environmental footprint through its “RefScale.” Today, Reformation is climate positive, removing more carbon than it emits.

Current News: Reformation made its NYSE debut on July 30th. This past week, it reported its first quarterly earnings as a public company, with second-quarter net revenue up 24.1% year over year to $155.2 million. This percentage increase is the 21st consecutive quarter of double-digit growth, according to CEO Hali Borenstein. The company ended the quarter with 70 stores across the U.S., U.K., Canada, and France, serving more than one million active customers in over 150 countries, and says it has a path to double that store count over the next five years. The stock, however, has traded below its $15 IPO price and closed around $13.60 after the earnings release.