Hyman told WWD in an interview that the second quarter started out strongly in May, only to pull back in mid-June with more subscribers pausing the service and new customer acquisition slowing.
Hyman, though, is focused on the longer-term future and how renters will be using the service for the rest of this year and into 2023.
“Despite the bounce-back that we’re seeing, we think it’s important to be prudent and assume that uncertainty will persist,” Hyman said. “It’s hard to anticipate how customers will behave in an environment that’s fundamentally different than the one we left behind pre-pandemic.” Rent the Runway“We simply can’t predict what’s going to happen over the next 12 months,” she said.
Hyman is charging toward revenues of $400 million, at which point she said the company would be able to cover operating expenses.
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