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Rent the Runway’s losses narrowed in its fiscal fourth-quarter earnings reported Wednesday as the digital retailer continues to streamline its costs and work towards profitability.
Despite the improvements the company has made, its fiscal 2023 and first-quarter outlook fell short of analysts’ estimates. Its share price fell more than 6% in after-hours trading.
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Here’s how the fashion rental company performed in the fourth quarter compared with what Wall Street was anticipating, based on a survey of analysts by Refinitiv:
- Loss per share: 40 cents vs. 51 cents expected
- Revenue: $75.4 million vs. $75.2 million expected
The company’s reported net loss for the three-month…
Source cnbc.com
