THE REALREAL WITHDRAWS 2020 BUSINESS OUTLOOK DUE TO IMPACT OF COVID-19

SAN FRANCISCO, March 17, 2020 (GLOBE NEWSWIRE) -- The RealReal (Nasdaq: REAL)—the world’s largest online marketplace for authenticated, consigned luxury goods—today withdrew its outlook for the first quarter and full year 2020 as a result of the growing impact of the coronavirus (COVID-19) on its business.

Effective today, the company is closing its Brisbane, Calif., e-commerce center in response to the shelter in place directive from the San Mateo County Health Department currently expected to remain in place through April 7. The company is also suspending consignment and shopping appointments in its San Francisco Luxury Consignment Offices and flagship store, as well as shifting all Bay Area White Glove in-home consignment to virtual appointments only. Given the near-term uncertainty about the duration of this closure and potential for the closure of our other facilities, we are unable to quantify the near-term impact to our business. 

“We are in unprecedented territory with the spread of coronavirus. In a time with so much uncertainty, we want to reassure you that we are taking every precaution to ensure the safety of our customers, consignors and staff by following COVID-19 guidelines provided by public health organizations as well as federal, state and local officials,” said Julie Wainwright, founder and CEO of The RealReal. “While the magnitude of COVID-19’s near-term impact remains fluid, we are confident in our leadership position and our long-term strategy to capitalize on the large market opportunity before us.”

About The RealReal, Inc.

The RealReal is the world’s largest online marketplace for authenticated, consigned luxury goods. With a rigorous authentication process overseen by experts, The RealReal provides a safe and reliable platform for consumers to buy and sell their luxury items. We have 150+ in-house gemologists, horologists and brand authenticators who inspect thousands of items each day. As a sustainable company, we give new life to pieces by hundreds of brands, from Gucci to Cartier, supporting the circular economy. We make consigning effortless with free in-home pickup, drop-off service and direct shipping for individual consignors and estates. At our stores in LA, NYC and San Francisco, customers can shop, consign, and meet with our experts. At our ten Luxury Consignment Offices, four of which are in our retail stores, our expert staff provides free valuations.