RENT - Rent the Runway hikes prices due to inflation costs

Rent the Runway (NASDAQ:RENT) traded slightly higher early on Thursday after the retailer raised prices. Pricing on the popular eight-item plan was increased to $144 per month from $134 and pricing on the 16-item plan was boosted to $235 per month from $195. The higher pricing will be in effect on May 6. Rent the Runway (RENT) pointed to higher business costs and inflation as the reasons for the price increases in an e-mail to customers. Shares of RENT moved up 0.55% premarket to $5.74 vs. the 52-week trading range of $4.37 to $24.77. Sector watch: Weddings are surging and these stocks might benefit.

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Rent the Runway hikes prices due to inflation costs