Streetbeat News

RENT

Rent the Runway, Inc.

https://www.renttherunway.com

Industry

Apparel - Retail

Rent the Runway, Inc. rents designer wear for women through its stores and online retail. The company offers ready-to-wear, workwear, denim, casual, maternity, outerwear, blouses, knitwear, loungewear, jewelry, handbags, activewear, ski wear, home goods, evening wear, and kids wear, as well as accessories. It also engages in the software development and support activities. The company was incorporated in 2009 and is headquartered in Brooklyn, New York.

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Rent The Runway shares have resumed trading, indicating a potential shift in market dynamics for the company.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 1:57 pm

Shares of Rent The Runway (RENT) were halted due to a circuit breaker after surging 99.5%, indicating a significant upward movement in the stock price.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 1:52 pm

U.S. stocks traded higher with the Nasdaq gaining over 50 points following the release of March's Producer Price Index (PPI) data, which showed a 0.2% increase, below analysts' expectations of 0.3%. Rallybio Corporation announced a collaboration with Johnson & Johnson, causing its shares to surge 95%. Eliem Therapeutics announced an acquisition agreement with Tenet and a $120 million private placement, leading to a 60% increase in its shares. Rent the Runway reported mixed Q4 results but provided positive guidance, boosting its shares by 46%. Conversely, Aptevo Therapeutics and Enlivex Therapeutics saw significant drops in their share prices after announcing a public offering and Phase II trial results, respectively.

Portfolio Pulse from Avi Kapoor

April 11, 2024 | 1:41 pm

Rent The Runway, Inc. (NASDAQ:RENT) shares surged in premarket trading after reporting Q4 financial results. Despite missing EPS estimates with a loss of $(7.02) per share, quarterly sales of $75.8 million exceeded expectations. Gross profit fell by 10.2% year over year, and gross margin contracted. However, adjusted EBITDA improved significantly, and the company provided positive revenue guidance for Q1 and FY 2024.

Portfolio Pulse from Nabaparna Bhattacharya

April 11, 2024 | 1:17 pm

Rallybio collaborates with Johnson & Johnson on therapeutics for pregnant individuals at risk of FNAIT, causing RLYB shares to surge by 104%. Rent the Runway's mixed Q4 results and future guidance boost RENT shares by 77%. Eliem Therapeutics announces acquisition of Tenet and a $120 million private placement, leading to a 65% increase in ELYM shares.

Portfolio Pulse from ryanfaloona@benzinga.com

April 11, 2024 | 12:31 pm

Rent the Runway shares increased following mixed Q4 financial results and future guidance.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 11:19 am

Rallybio Corporation shares surged 77.9% in pre-market trading following a collaboration announcement with Johnson & Johnson on therapeutics for pregnant individuals at risk of FNAIT. Other stocks also showed significant movement in pre-market trading, with notable gainers including Rent the Runway, Alpine Immune Sciences, and TuanChe Limited, among others. Conversely, Aptevo Therapeutics and Acorda Therapeutics led the pre-market losers, with significant drops due to a pipeline update and bankruptcy proceedings, respectively.

Portfolio Pulse from Avi Kapoor

April 11, 2024 | 10:14 am

In Wednesday's after-market session, several consumer discretionary stocks showed notable movements. Rent the Runway (RENT) led the gainers with a 53.6% increase following their Q4 earnings release. Other gainers included Naas Technology (NAAS), Kaival Brands Innovations (KAVL), Dogness (DOGZ), Barnes & Noble Education (BNED), and Worksport (WKSP). On the losing side, E-Home Household Service (EJH), Lobo EV Technologies (LOBO), Cricut (CRCT), Allurion Technologies (ALUR), Mister Car Wash (MCW), and PLBY Group (PLBY) saw declines.

Portfolio Pulse from Benzinga Insights

April 10, 2024 | 8:31 pm

Rent the Runway, Inc. (NASDAQ:RENT) reported mixed Q4 results with a larger-than-expected loss per share but higher sales than anticipated. The company's shares soared following the announcement, with significant improvements in customer experience and retention highlighted. Rent the Runway expects to reach free cash flow breakeven in fiscal year 2024, with first-quarter revenue projections slightly below estimates and an anticipated revenue growth of 1% to 6% for the fiscal year.

Portfolio Pulse from Erica Kollmann

April 10, 2024 | 8:29 pm

Rent the Runway shares increased following mixed Q4 financial results and future guidance.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 8:19 pm

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