Rent the Runway rises, Stitch Fix falls on contrasting forecasts

ThredUp

09/06/2022 23:09

(Updates)
    ** Shares of clothing rental firm Rent the Runway  RENT.O 
up 10.8% at $3.91 in extended trading
    ** Co reports a smaller-than-expected Q1 loss on a revenue
that doubled to beat estimates 
    ** Co says it saw an 82% increase in active subscribers to
its services as consumers turn to affordable fashion when they
step out to travel, work and events 
    ** RENT expects Q2 revenue largely above Street estimates,
as per Refinitiv IBES data
    ** Competitor Stitch Fix  SFIX.O  falls 15.4% to $6.58 after
forecasting Q4 net revenue below estimates and flagging charges
due to layoffs  urn:newsml:reuters.com:*:nL4N2XW370
    ** Up to last close, RENT fell 56.7% and SFIX declined 58.9%
this year

 (Reporting by Nandhini Srinivasan and Praveen Paramasivam)
 ((nandhini.srinivasan@thomsonreuters.com))