Reformation (REF)
Sells womenswear and accessories through a sustainability-centered, direct-to-consumer retail model.
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Sells fashion-led womenswear and accessories through its website, company-operated stores and wholesale partners. Most revenue comes from direct customer channels, supported by small initial production runs, frequent testing and reorders behind demonstrated demand.
Builds its wardrobe around dresses, bottoms, tops, sweaters and accessories, with denim, bridal and occasionwear, shoes, bags, swim, pajamas, jewelry and vintage extending the range. Products are sold through e-commerce, company-operated Retail X stores and selected wholesale accounts; owned stores are concentrated in the United States, United Kingdom, Canada and France, while e-commerce serves customers internationally.
Starts new items in limited quantities, tests demand online and in stores, then increases production behind demonstrated sellers. The Southern California factory operates alongside external factories, while RefScale product-impact estimates and initiatives around materials, responsible manufacturing, recycling and circularity support the brand proposition. Brand reputation, product quality, sustainability-claim credibility, fashion relevance, owned-store and website execution, external manufacturing and trade policy affect the business.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 24, 2026 | Telsey Advisory | Initiate | Rating: —Target: — | Target: $20 |
| Aug 24, 2026 | Guggenheim | Initiate | Rating: —Target: — | Target: $20 |
| Aug 24, 2026 | Citigroup | Initiate | Rating: — | |
| Aug 24, 2026 | BTIG | Initiate | Rating: —Target: — | Target: $20 |
| Aug 24, 2026 | William Blair | Initiate | Rating: — |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 27, 2026Cash & short-term investments $76.6M · Total debt $435.3M · Total assets $1.01B · Shareholders' equity $376.7M
- Revenue
- $155.2M
- Operating income
- $19.0M
- Net income
- $12.4M
No dividends on record.
No ownership filings on record for this listing.
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Reformation | $13.69 | +2.32% | $790.4M | — | 38.8 | — | — |
| Urban Outfitters | $76.57 | +3.18% | $6.35B | 11.6 | 11.7 | 1.0 | +10.4% |
| Lulus | $11.53 | +1.95% | $32.4M | — | — | 0.1 | −16.8% |
| Abercrombie & Fitch | $137.98 | +0.89% | $6.08B | 11.7 | 11.2 | 1.1 | +4.8% |
| Revolve | $21.74 | +2.77% | $1.51B | 20.9 | 22.8 | 1.2 | +12.4% |
| Median | 11.7 | 11.7 | 1.1 | +7.6% |