© Reuters. A person moves through clothing in the storage area at Rent the Runway’s “Dream Fulfillment Center” in Secaucus, New Jersey, U.S., September 11, 2019. Picture taken September 11, 2019. REUTERS/Andrew Kelly/Files
(Reuters) – Rent the Runway on Monday made public its paperwork for a stock market flotation in the United States, disclosing a near 39% drop in revenue for the fashion rental company last year.
The company reported revenue of $157.5 million for the fiscal year 2020, down from $256.9 million a year earlier. Its net loss widened to $171.1 million in the same period, from $153.9 million a year earlier.
Rent the Runway, which was founded in 2009, lets users rent clothes and shop second-hand merchandise from over 750 designer brands. It had confidentially filed for a listing in July.
Goldman Sachs & Co (NYSE:), Morgan Stanley (NYSE:) and Barclays (LON:) are the lead underwriters for the offering.
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