Rent the Runway (RENT) Q3 earnings 2022


Jennifer Hyman, Rent the Runway 

Scott Mlyn | CNBC

As some shoppers think twice about purchases, Rent the Runway is getting a bump.

The fashion rental and subscription company on Wednesday reported stronger quarterly revenue that beat expectations and raised its financial outlook for the year as customers opted to borrow designer clothes instead of buying them.

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Shares were up about 23% in after-market trading after closing Wednesday at $1.36.

In a CNBC interview, CEO Jennifer Hyman said inflation is making Rent the Runway more appealing to a broader swath of customers who cut across incomes and geographies.

During the quarter, 28% of its subscribers also paid more to…

Source cnbc.com

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