Retailer Reformation closes flat in NYSE debut as CEO says company is ‘ready to scale’

Reformation, a women’s fashion retailer, commenced trading on the New York Stock Exchange on Thursday under ticker symbol “REF.” The company priced its initial public offering at $15 per share and offered 14,062,500 shares, generating $210.9 million in proceeds. The stock closed the trading day essentially unchanged from its offering price.
The company reported significant financial performance metrics in its public filings. Net revenue for the full year 2025 reached $507.1 mi