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Rent the Runway Holds Annual Stockholders Meeting, Elects New Directors
ByAinvest
Sunday, Jul 13, 2025 8:15 am ET1min read
Rent the Runway (RENT) held its Annual Meeting of Stockholders on July 8, 2025, with 74.68% of voting power represented. The meeting elected Tim Bixby, Jennifer Fleiss, and Daniel Rosensweig as Class I Directors and ratified PricewaterhouseCoopers LLP as the independent registered public accounting firm for the fiscal year ending January 31, 2026. The company's financial performance is characterized by negative profitability and financial instability.
Rent the Runway, Inc. (NASDAQ:RENT), the fashion rental company, held its 2025 Annual Meeting of Stockholders on July 8, 2025, with 74.68% of voting power represented. The meeting saw the election of three Class I directors and the ratification of its independent auditor. Tim Bixby, Jennifer Fleiss, and Daniel Rosensweig were elected to serve until the company's 2028 annual meeting. The voting results were as follows:- Tim Bixby received 4,018,319 votes for and 280,652 votes withheld.
- Jennifer Fleiss received 4,128,837 votes for and 170,134 votes withheld.
- Daniel Rosensweig received 4,162,418 votes for and 136,553 votes withheld.
Additionally, the company's stockholders ratified PricewaterhouseCoopers LLP as the independent registered public accounting firm for the fiscal year ending January 31, 2026. The proposal received 5,187,562 votes for, 17,484 votes against, and 7,517 votes abstained.
Rent the Runway's financial performance has been characterized by negative profitability and financial instability. In the first quarter of fiscal year 2025, the company reported a 7.2% year-over-year decline in total revenue, amounting to $69.6 million. Despite the revenue drop, the company saw a slight increase in its active subscriber base, which grew by 1% to 147,157. Gross margins declined to 31.5% from 37.9% a year ago, and the company reported a negative adjusted EBITDA of $1.3 million. The company provided guidance for Q2 FY2025, projecting revenue between $76 million and $80 million, with expectations of significant inventory growth.
The company's CEO, Jen Hyman, emphasized the company's commitment to transforming its inventory strategy, while CFO Sid Jaegar highlighted the company's growth ambitions. These developments reflect Rent the Runway's strategic focus on enhancing its market position despite ongoing financial challenges.
[1] https://www.investing.com/news/sec-filings/rent-the-runway-elects-directors-and-ratifies-auditor-at-annual-meeting-93CH-4131956
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