RENT - Rent the Runway gains on confident outlook for boom in weddings social outings

Rent the Runway (NASDAQ:RENT) gained in premarket trading on Thursday even though the online retailer reported fewer active subscribers than analysts forecast for Q4. The company's subscriber pause rate rose to 28% during the quarter from 22% in Q3. Active subscribers were reported at 115,240 vs. 121,784 consensus. Revenue jumped 91% to $64.1M during the quarter vs. $63.3M consensus and adjusted EBITDA was -$5.5M vs. -$4.9M consensus. Rent the Runway (RENT) is confident on the outlook for 2022 as it looks to capitalizing on one of the strongest potential macro environments for rental it has seen in recent years, "with an outsized pipeline of weddings and social occasions in 2022, return to work and a resurgence of general social activity." Morgan Stanley stayed confident in Rent the Runway (RENT) and reiterated an Overweight rating after taking in the report. "While the FY22 EBITDA margin guide leaves us slightly less bullish near-term,

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Rent the Runway gains on confident outlook for boom in weddings, social outings