27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
Walmart Inc. (NYSE:WMT) announced early Wednesday it had partnered with clothing and accessories reseller ThredUp.
What Happened
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The retailing giant said that about 750,000 pre-owned items from ThredUp are now available at its e-commerce platform for purchase.
Walmart is only selling pre-owned apparel and shoes that ThredUp has deemed "new" or "like new," it said. Accessories and handbags that are tagged "gently used" will also be available, in addition to the two categories mentioned previously.
Customers who purchase the ThredUp catalog through Walmart will receive all benefits offered by the platform, including free deliveries for purchases above $35 and free returns of defective goods.
Walmart said these are "exclusive perks that have not been available to ThredUP customers before."
Why It Matters
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The retailer has been looking to expand its clothing commerce for a long time but has found relatively less success.
Walmart noted that second-hand clothing is especially popular with millennials.
The idea of resale has particularly caught on due to rising environmental concerns. According to ThredUp's annual report for 2020, as many as 70% of consumers have either bought or are now willing to buy second-hand clothing.
"We think [customers will] be surprised and delighted by what they find, and we're excited to inspire customers to look and feel their best," Walmart said.
The move also expands Walmart's e-commerce line at a time when it has seen a surge in business due to the novel coronavirus (COVID-19) pandemic.
Through resale, ThredUp will bring brands such as PVH Corp. (NYSE:PVH) subsidiary Calvin Klein, Nike Inc. (NYSE:NKE), and Tapestry Inc. (NYSE:TPR) Coach to its platform.
Price Action
Walmart shares closed 0.4% lower at $123.86 on Tuesday and were mostly unchanged in the after-hours.
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.