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Rent the Runway, Inc. (RENT) Reports Q4 Loss, Tops Revenue Estimates
Zacks Investment Research· 2024-04-10 22:16
Rent the Runway, Inc. (RENT) came out with a quarterly loss of $5.83 per share versus the Zacks Consensus Estimate of a loss of $5.80. This compares to loss of $7.60 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -0.52%. A quarter ago, it was expected that this company would post a loss of $8.40 per share when it actually produced a loss of $9, delivering a surprise of -7.14%.Over the last four quarters, the company has surpa ...
Rent the Runway Drives Loyalty Boost With AI Search Upgrades
PYMNTS· 2024-04-10 21:54
As consumers demand more frictionless experiences from their eCommerce merchants, Rent the Runway is seeing its digital rethink drive higher retention.The company shared in a presentation Wednesday (April 10), alongside its fourth quarter and full year fiscal 2023 financial results, that it saw loyalty rise 10% year over year following improvements to the user experience on its digital platforms.“[We] will be … continuing the digital product innovation we started in 2023 to drive increases in conversion and ...
Rent the Runway(RENT) - 2024 Q4 - Annual Results
2024-04-10 20:14
Rent the Runway, Inc. Announces Fourth Quarter and Full Year 2023 Results Exceeded Revenue and Adjusted EBITDA Guidance for Q4 2023 Exhibit 99.1 Expect Revenue Growth in FY 2024 through Focus on Marketing, Product Innovation and Strong Customer Retention. Committed to Achieving Free Cash Flow Breakeven for FY 2024. Q4 2023 Net Loss of $(24.8)M and Net Loss Margin of (32.7)%, vs. $(26.2)M and (34.7)% in Q4 2022 Adjusted EBITDA of $11.2M and Adjusted EBITDA Margin of 14.8% in Q4 2023, Up From $7.1M and 9.4% i ...
Rent the Runway, Inc. Announces Fourth Quarter and Full Year 2023 Results
Newsfilter· 2024-04-10 20:01
Exceeded Revenue and Adjusted EBITDA Guidance for Q4 2023 Expect Revenue Growth in FY 2024 through Focus on Marketing, Product Innovation and Strong Customer Retention. Committed to Achieving Free Cash Flow Breakeven for FY 2024. Q4 2023 Net Loss of $(24.8)M and Net Loss Margin of (32.7)%, vs. $(26.2)M and (34.7)% in Q4 2022 Adjusted EBITDA of $11.2M and Adjusted EBITDA Margin of 14.8% in Q4 2023, Up From $7.1M and 9.4% in Q4 2022 Healthy Inventory In-Stock Position Exiting FY 2023 has Driven Strong Custome ...
Rent the Runway to Report Fourth Quarter and Fiscal Year 2023 Results on April 10, 2024
Globenewswire· 2024-03-20 20:01
NEW YORK, March 20, 2024 (GLOBE NEWSWIRE) -- Rent the Runway, Inc. (“Rent the Runway”) (Nasdaq: RENT) announced today that it expects to release its fourth quarter and fiscal year 2023 financial results for the quarter and year ended January 31, 2024, on Wednesday, April 10, 2024, after market close. Rent the Runway will host a conference call and live webcast with the investment community at 4:30 p.m. Eastern Time that same day to discuss its results and to provide a business update. The financial results ...
Rent the Runway to Report Fourth Quarter and Fiscal Year 2023 Results on April 10, 2024
Newsfilter· 2024-03-20 20:01
NEW YORK, March 20, 2024 (GLOBE NEWSWIRE) -- Rent the Runway, Inc. (“Rent the Runway”) (Nasdaq: RENT) announced today that it expects to release its fourth quarter and fiscal year 2023 financial results for the quarter and year ended January 31, 2024, on Wednesday, April 10, 2024, after market close. Rent the Runway will host a conference call and live webcast with the investment community at 4:30 p.m. Eastern Time that same day to discuss its results and to provide a business update. The financial results ...
Rent the Runway Names Natalie McGrath Chief Marketing Officer
Newsfilter· 2024-02-28 13:30
NEW YORK, Feb. 28, 2024 (GLOBE NEWSWIRE) -- Rent the Runway (RTR) today announced the appointment of Natalie McGrath as Chief Marketing Officer, effective March 4, 2024. McGrath will oversee all aspects of the Rent the Runway customer journey, including brand and growth marketing, creative services, public relations, and customer service. She will report to Co-Founder, CEO and President Jennifer Hyman. McGrath's appointment comes at a pivotal time for Rent the Runway, which has spent the past several years ...
Rent the Runway, Inc. (RENT) Upgraded to Buy: What Does It Mean for the Stock?
Zacks Investment Research· 2024-01-23 18:01
Rent the Runway, Inc. (RENT) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #2 (Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.The power of a chang ...
Is Rent the Runway Struggling or Strategically Recalibrating?
PYMNTS· 2024-01-11 15:00
Rent the Runway, a fashion rental company, has undergone adjustments, including a 10% reduction in its corporate workforce. However, the question arises: Is this indicative of a struggling company, or is it merely a recalibration? Apparel subscriptions, known for their high loyalty, have been reported to be the most steadfast. The company has said it does indeed have loyal customers, translating to higher profitability. The company’s chief operating officer and president, Anushka Salinas, is also set to lea ...
Rent The Runway Cuts 10% Of Workforce And COO Exits
Forbes· 2024-01-11 11:45
Clothing-Rentals  (AP Photo/Seth Wenig)Copyright 2019 The Associated Press. All rights reserved.Rent the Runway announced that it is eliminating 37 corporate positions and COO Anushka Salinas will leave the company on January 31. Her resignation comes on the heels of a company restructuring. These actions are on top of earlier staff cuts made last September.Jennifer Hyman, CEO, and chair of the board, explained that these steps were taken to help the company restore the growth and achieve profitability.Rent ...