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12 Apr

Rent the Runway Targets 25% Increase in Lively Subscribers

by Beauty Tips
Fashion, Featured
Jennifer Hyman has been busy at Rent the Runway Inc., cutting costs, refinancing debt and, finally, sweetening the service.  Now the payoff might just be starting to return with some signs of traction in the corporate’s fourth-quarter update. “The main headline for 2022 is just, we made Rent the Runway a financially stronger business,” Hyman, chief executive officer and cofounder, told WWD. “We’re at a degree now where our gross margins are healthy, our cost structure is right-sized, inventory acquisition is efficient, and 2023 is the yr where we're going to make significant progress towards profitability.”  Fashion rental service ended its fiscal yr on Jan. 31 with 126,712 energetic subscribers, a ten percent annual increase.  But Hyman and the corporate need to grow much...
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8 Dec

Rent the Runway Regains Some Momentum With Sales, EBITDA Gains

by Beauty Tips
Fashion, Featured
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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6 Nov

SMBs Are Struggling to Pay Rent within the U.S.

by Beautifaire101
Beauty, Featured
Based on latest survey findings from Alignable, the Boston-based small business referral network with over 7 million members, small business owners’ ability to pay rent on time took a 7 percent dive in only one month, reaching 37 percent of U.S. small business owners in October. Chuck Casto, head of stories and research at Alignable, said that is the most important and most rapid increase in 2022. Furthermore, in September, rent delinquency had reached a six-month low, which was coupled with an optimistic outlook for earning potential as many small business owners reported increased sales. In its survey of nearly 5,000 small business owners, Alignable revealed reasons for higher rent delinquency coincided with higher rents for 51 percent of SMBs. Moreover, survey...
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