Poshmark CEO Manish Chandra joins Yahoo Finance Live to discuss company earnings, the resale market amid inflation, the Kardashian effect, investors, and the outlook for the resale market.
BRIAN SOZZI: Poshmark’s ticker page on Yahoo Finance is seeing a lot of interest after the company offered a little bit lighter than expected sales outlook late Thursday. Secondhand fashion company also reported a record 8 million active buyers in the trailing 12 months and a 70% jump in social interactions year over year.
Joining us now discuss is Poshmark founder and CEO, Manish Chandra. Manish, always great to see with you– see you. We’ll get into the quarter in the second, but we just were showing your stock price. It was getting embraced, the core. The numbers looked pretty good, but there’s been a big reversal. What has some of the feedback been since the quarter was announced?
MANISH CHANDRA: I think the Street is looking to profitability from us. And so I think that’s definitely on everyone’s mind these days. But we feel– overall, we feel pretty good about the quarter. We exceeded expectations. What we are seeing is a robust sort of buying and selling. And ultimately, people are emptying their closets and shopping from closets, which is a great sign of where the future of fashion, future of business is, sitting inside your closet.
BRAD SMITH: And so if the Street is looking for profitability prospects there, what would you say to kind of quell some of those concerns? What does that future look like in ensuring that you reach and ultimately sustain that profitability?
MANISH CHANDRA: Yeah, so if you go back even a couple of years back, we’ve shown how we reach profitability. And the reason we can hit profitability is for three reasons.