Nuuly, the clothing rental service run by Urban Outfitters, reached profitability this year on the back of a growing subscriber base and surging revenue.
The company reportedly experienced an 86% rise in revenue during its third fiscal quarter, pulling in $300,000 in operating profit.
In comparison, Nuuly has an operating loss of $3 million in Q3 2022.
Meanwhile, Nuuly clothing rental competitor Rent the Runway has yet to post a profitable quarter in almost 15 years on the market.
