Rent The Runway reports Q2 EPS ($4.17), consensus ($5.47)

Reports Q2 revenue $78.9M, consensus $77.2M. “Rent the Runway is at an exciting inflection point,” said Jennifer Hyman, co-founder, president, and CEO of Rent the Runway. “We believe that our sustained improvement in revenue growth, along with measurable progress on profitability, are indicators that our business is getting stronger. The substantial improvement we’ve seen in our Reserve business as a result of increased focus and an improved customer experience makes me optimistic that our growth strategies and streamlined operational focus is working. This improvement, along with strong repeat subscriber acquisition, are signs that our customers are noticing the positive changes happening at Rent the Runway. Our second half plans focus on driving continued acceleration in our Reserve business, further improving the first 90 day customer subscription experience, and important marketing initiatives designed to deepen customer engagement with the Rent the Runway brand and experience.”