Added to YB: 2026-08-19
Pitch date: 2026-08-17
REF [bearish]
Reformation Inc.
Author Info
No bio for this author
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Company Info
Reformation Inc. manufactures and sells sustainable women's clothing and accessories in the United States and Internationally.
Market Cap
$918.6M
Pitch Price
N/A
Price Target
N/A
Dividend
N/A
EV/EBITDA
17.62
P/E
129.28
EV/Sales
2.29
Sector
Specialty Retail
Category
special_situation
Show full summary:
Reformation is a terrible stock
REF (short): Ethical clothing brand IPO'd by Permira (~49% stake, founder ~20%), lock-up 180 days — author expects PE dump like Dr Martens. Thin 2.5% margins, ~$12M NPAT (down from $32M), ~$1B valuation, rising inventory days & widening losses. Brutal mid-tier competition (Zara, Uniqlo).
Read full article (5 min)