Rent the Runway falls on trimming FY rev forecast

Rent the Runway

08/09/2023 13:40

Sept 8 (Reuters) -    ** Shares of apparel rental firm
Rent the Runway  RENT.O  down 11.8% at $1.19 before the bell
    ** Co expects FY 2023 rev. to be atleast $296.4 mln vs.
previously provided range of $320 mln-$330 mln
    ** RENT forecasts Q3 rev. between $72 mln-$74 mln, vs.
analysts' average est. of $84.7 mln - LSEG
    ** Further, co's Q2 rev. fell 1% to $75.7 mln
    ** Up to last close, stock had fallen 55.4% YTD

 (Reporting by Sri Hari N S in Bengaluru)
 ((SriHari.NS@thomsonreuters.com;))