Rent The Runway reports Q1 EPS ($6.03), consensus ($7.43)

Reports Q1 revenue $75M, consensus $73.73M. “Rent the Runway had a strong start to fiscal 2024,” said Jennifer Hyman, Co-Founder, President, and CEO, Rent the Runway. “I am excited about our progress in reigniting our growth engine. Our renewed focus on marketing and digital product innovation puts our customer at the center of everything we do. We are committed to delivering her a luxury rental experience that is magical. Our initiatives across expanding selection and styling are only the beginning as we expect to roll out significant improvements in merchandising and life cycle marketing in the quarters to come. Equally exciting is our renewed emphasis on the Rent the Runway brand, powerful and engaging content, and in-person customer interactions through our stores and events. I’m confident that the combination of our improved financial position and customer focused orientation will lead Rent the Runway to realize the significant opportunities ahead.”