Rent the Runway stock jumps on optimistic 2024 outlook
04/11/2024 21:35
Rent the Runway (RENT) shares are soaring during Thursday's trading session after the company shared an upbeat outlook for the year ahead. Rent the Runway stated that 2023 was a year of "significant improvements," expecting 2024 to be a "milestone" year for the company's financials. The clothing rental retailer plans to break even and free cash flow in 2024. This comes after the company reported a weaker-than-expected loss per share of $7.06 in its most recent fourth quarter earnings, compared to the street's expectation of a $6.05 loss. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Angel Smith
Rent the Runway (RENT) shares are soaring during Thursday's trading session after the company shared an upbeat outlook for the year ahead. Rent the Runway stated that 2023 was a year of "significant improvements," expecting 2024 to be a "milestone" year for the company's financials.
The clothing rental retailer plans to break even and free cash flow in 2024. This comes after the company reported a weaker-than-expected loss per share of $7.06 in its most recent fourth quarter earnings, compared to the street's expectation of a $6.05 loss.
For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.
This post was written by Angel Smith