Nuuly Achieves Profitability Milestone, Driven by Revenue Surge …

Nov 22, 2023 · The recent fiscal third quarter, ending Oct. 31, reported a significant achievement, with Nuuly posting an operating profit of $300,000, a remarkable shift from the $3 million operating loss a year prior. Nuuly’s success stems from an 86% revenue surge, reaching $65.5 million …

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Nuuly Achieves Profitability Milestone, Driven By Revenue Surge …

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Clothing Rental Service Nuuly Reaches Profitability, Beating Rival …

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Nuuly reported operating income of $300,000 on $65.5 million in revenue in the three months ended October 31. This milestone marks the first time Nuuly has earned money since its …

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Nuuly Turns First Profit Via Diverse Assortment And Logistical ...

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Urban Outfitters ’ clothing rental service, Nuuly, has turned its first profit. The achievement of this milestone comes as a result of a growing subscriber base and an 86% increase in revenue ...

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Clothing Rental Service Nuuly Reaches Profitability, Beating Rival …

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Nov 22, 2023 · Urban Outfitters’ clothing rental service Nuuly has eked out its first profit thanks to a steady stream of new subscribers and a whopping 86% jump in revenue, hitting the …

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Urban Outfitters’ Nuuly Reaches Profitability For First Time In 4 …

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Nov 28, 2023 · The brand saw $65.5 million in revenue and an operating profit of $300,000 during its fiscal third quarter, which ended in October. In the previous year, Nuuly posted $35.3 …

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Clothing Rental Service Nuuly Reaches Profitability, Beating Rival …

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Nov 21, 2023 · Urban Outfitters' clothing rental service Nuuly has eked out its first profit thanks to a steady stream of new subscribers and a whopping 86% jump in

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Nuuly’s Take On Rental Drives Growth For Urban Outfitters

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Oct 24, 2024 · Nuuly is getting there. In the second quarter, Nuuly's operating income tallied $5.3 million — for a margin of 5.9 percent — and the business is on track to be profitable for the full …

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Clothing Rental Service Nuuly Reaches Profitability, Beating Rival …

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Nov 22, 2023 · Urban Outfitters’ clothing rental service Nuuly has eked out its first profit thanks to a steady stream of new subscribers and a whopping 86% jump in revenue, hitting the …

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Rent Clothing? This Business's 68% Customer Growth Says Yes.

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Dec 9, 2023 · Nuuly's sales in the quarter were a touch under $66 million. So this business is working off of a small base. That niggle aside, the company managed to increase Nuuly's …

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FAQs about Nuuly Achieves Profitability Milestone, Driven by Revenue Surge … Coupon?

How much money did nuuly make?

In the year-ago period, Nuuly posted $35.3 million in revenue and an operating loss of $3 million. The milestone marks the first time Nuuly has earned money since its launch in 2019, a goal for the company from the beginning as it looked to prove it could run a clothing rental business profitably. ...

Why did nuuly turn a profit?

The company is due to report third-quarter earnings on Dec. 5. Nuuly turned an operating profit in part because it is buoyed by the larger Urban business, which supplies many of the clothes that are available to renters and covers some of its costs. Given the size of Urban and its inventories, Nuuly can be efficient in ways that Rent cannot. ...

How did nuuly perform in the third quarter?

The brand, which offers a $98 monthly subscription service for six items of clothing, saw $65.5 million in revenue and an operating profit of $300,000 during its fiscal third quarter ended Oct. 31. In the year-ago period, Nuuly posted $35.3 million in revenue and an operating loss of $3 million. ...

How many subscribers does nuuly have?

Nuuly's active subscriber count, which reached 198,000 during the quarter, also eclipses Rent the Runway's, which stood at 137,566 as of July 31. In April, CEO Jenn Hyman told CNBC the company needs to reach 185,000 subscribers to have enough free cash flow to cover all of its fixed costs, variable costs and the cost of its inventory. ...

Does nuuly have a small base?

Nuuly's sales in the quarter were a touch under $66 million. So this business is working off of a small base. That niggle aside, the company managed to increase Nuuly's sales by a whopping 86% year over year. This was driven by a 68% increase in the number of subscribers using the Nuuly service. ...

How much does a nuuly subscription cost?

Nuuly has an interesting structure. For roughly $100, customers can pick six items to rent for a month. Nuuly takes care of cleaning, and postage is baked into the subscription price. If a customer falls in love with an item, they can buy it. ...