In its filing with the U.S. Securities and Trade Commission, the Brooklyn, New York-centered organization disclosed a in the vicinity of 39% fall in earnings for the fiscal year 2020.
Rent the Runway, which was founded in 2009, allows users lease outfits and shop second-hand goods from around 750 designer brands. It experienced confidentially filed for a listing in July.
The organization noted 2020 earnings of $157.5 million, down from $256.nine million a year earlier. Its internet decline widened to $171.one million in the very same interval, from $153.nine million a year earlier.
The firm’s major-line also took a strike in the initially half of this fiscal year,