Rent the Runway Inc. got just a little little bit of its groove back.
The rental pioneer — which saw a summer slowdown and laid off 24 percent of its corporate employees in September — on Wednesday posted third-quarter gains and boosted its outlook for the 12 months.
Net losses for the quarter narrowed to $36.1 million from $87.8 million a 12 months ago, with probably the most recent period including $5.8 million in restructuring charges. Adjusted earnings before interest, taxes, depreciation and amortization tallied $6.6 million, up from losses of $5.6 million on the identical basis a 12 months ago.
Revenues for the three months ended Oct. 31 increased 31.2 percent to $77.4 million from $59 million.
Rent the Runway’s energetic subscriber count rose...
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