Rent the Runway, Inc. (NASDAQ:RENT) stock rose Friday after the fashion-rental platform posted a strong quarterly beat and issued upbeat revenue guidance.
Management pointed to subscriber momentum, fresher inventory and a reworked balance sheet as key drivers behind the improved outlook.
Rent the Runway reported third-quarter sales of $87.60 million (+15.4% year over year), beating the Street view of $73.80 million.
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The company reported quarterly earnings per share of $13.65.
The quarter reflected steady subscriber growth alongside softer profitability trends.
In the quarter under review, total subscribers rose to 185,166, marking a 6.1% increase from last year’s level.
“Not only did we execute …