The debut aligns with a broader trend of cooling interest in consumer sector IPOs, as Reformation began trading on the same day as sandwich chain Jersey Mike’s. Despite the tepid opening, the company’s financial disclosures reveal a streak of 20 consecutive quarters of double-digit net revenue growth concluding in early 2026.
For the full 2025 fiscal year, Reformation reported net revenue of $507.1 million and net income of $12.6 million. These figures account for the financial pressure exerted by President Donald Trump’s tariff policies. Currently, the retailer maintains a physical footprint of 70 locations spanning the United States, United Kingdom, Canada, and France.
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