1844 ET - Nuuly continues to outpace subscription fashion rental rival Rent the Runway, which hasn't had luck adding paying members despite its latest marketing efforts. Nuuly added over 20,000 average active subscribers in the latest quarter and delivered a record fourth-quarter operating profit, completing its first year of profitability with a full-year operating profit of $13 million, Urban Outfitters' Operating Chief Frank Conforti says on a call with analysts. "An already strong start in February bodes well for the Nuuly brand to continue to deliver healthy revenue and profit growth in the first quarter and full year of fiscal 2026," Conforti says. Also, Nuuly is expected to have double-digit revenue growth for the year, driven primarily by continued subscriber growth, CFO Melanie Marein-Efron adds. (sabela.ojea@wsj.com; @sabelaojeaguix)
(END) Dow Jones Newswires
February 26, 2025 18:44 ET (23:44 GMT)
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