Reformation Debuts at $15 per Share Amid Sluggish IPO Market
Fashion retailer Reformation (REF) made its market debut on July 30, 2026, with shares opening flat after pricing its initial public offering (IPO) at $15. The company raised approximately $210.9 million by issuing 14,062,500 shares. Reformation is one of the few consumer and retail companies to go public this year amid a broader slump in IPO activity since the peak seen around 2021. The company reported strong financial performance with $507.1 million in net revenue for fiscal 2025, including a net income of $12.6 million despite President Donald Trump's tariffs. Reformation operates 70 stores across four countries and has over one million active customers through its direct-to-consumer channel.
Topics: IPO Reformation Inc. retail stock markets