ThredUp To Open New 10M Item Distribution Center In Dallas Area - ThredUp (NASDAQ:TDUP)

Online resale platform ThredUp Inc TDUP plans expansion of operations in Lancaster, Texas, in the Dallas-Forth Worth metroplex. The company will invest $70 million in capital for the new distribution center.
thredUP expects the new nearly 600,000 square foot facility located off I-35 and I-20 to likely be its largest and most automated distribution center.
The new facility is planned as thredUP's first four-level facility and will store up to 10 million items, more than doubling its total capacity to 16.5 million items across its network.
thredUP plans to begin processing items in the new distribution center in Q2 2022 with an initial capacity of 500,000 items.
Upon its opening, the new facility will employ 300 people with plans to employ 2,000 people total.
Price Action: TDUP shares traded higher by 3.32% at $19.11 on the last check Tuesday.