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Clothing rental service Nuuly reaches profitability, beating rival Rent the Runway to the benchmark

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Summary
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76% Informative

Urban Outfitters' clothing rental service Nuuly has eked out its first profit thanks to a steady stream of new subscri Rent the Runway ping 86% jump in revenue.

Competitor nearly 15 years has yet to turn a profit nearly 15 years into its history 300,000 ly offer $65.5 million ly subscription the three months ended Oct. 31 hing Urban rban's namesake brand saw sales drop by about 12% to $32 the quarter

Urban Outfitters' also fell by 14.2%, which Nuuly orse than analysts first expected.

In its release, Urban didn't share any guidance on what 86% expects for its holiday quarter and overall fiscal year. < Rent the Runway maryFeed_highLightText__NxlGi">fi nearly 15 years > 98 " monthly liday quarter six lass="summaryFeed_highLi $65.5 million i">Urban 300,000 ightText its fiscal third quarter ended Oct. 31 maryF the year-ago tText__Nx Nuuly Urban$35.3 million lass="summaryFeed_highLightText__NxlG $3 million onforti first mmaryF Nuuly ighLightText__NxlGi">StreetAccount2019 the 12% 14.2% $324 million about 12% Urban StreetAccount 9.5% David Hayne i" Nuuly quarter < Urban class="summaryFeed_highLightText__ CNBC i">13.2% $550 million one ummaryFeed_highLightText__NxlGi">the quarter< Gen Z > Anthr Runway ie nearly 15 years htText__NxlGi">Stre Nuuly ount 198,000 xt__NxlG the quarter span> Rent the Runway's ighLightText__Nxl 137,566 %July 31 n cla April ummary Jenn Hyman ightTe CNBC NxlGi">the quarter < 185,000 ass="summaryFeed_highLightText__NxlGi">5.6% LSEG $1.26 billion third-quarter Gi">$1.28 bil Dec. 5 sp Nuuly Refinitiv Urban ="summaryFeed_highLightText__NxlGi">82 cents 88 cents Urban "summaryFeed_highLight Nuuly _NxlGi">Across the Urban CNBC __NxlGi">next month's Nuuly eed_highLightText__NxlGi">Richard Hayne Nuuly xlGi">Urban Hayne Nuuly Feed Nuuly LightText__NxlGi">These days monthly ly

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