Rent the Runway Sees Rising Workwear Demand, Trims Discounts

Rent the Runway Inc. said demand for workwear has been surging as more subscribers are going to the office more regularly, underpinning stronger-than-expected revenue growth in the most recent quarter.

The shares slipped in late trading Wednesday, however, as the company forecast lower-than-expected second-quarter revenue as it reduces discounting.

Demand for workwear started to outpace the company’s supply of rental clothing in the quarter…