Overview
- Rent the Runway said co-founder Jennifer Hyman will leave the CEO, president and board roles and will stay on as an advisor through January 2027.
- Board member Teri Bariquit, a 37-year retail veteran who led merchandising at Nordstrom, was appointed interim CEO and president while directors begin a search for a permanent chief.
- The company reaffirmed its full-year 2026 guidance, projecting double-digit revenue growth and an adjusted EBITDA margin of 4% to 7%.
- Shares fell about 11% in midday trading after the announcement, putting the market value near $133 million, according to WWD.
- Recent financing cut about $200 million of debt and added $20 million of new capital, and the company posted its first annual profit in 2025 as it leans into AI, a broader online marketplace, advertising, and B2B services.