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Rent the Runway is reducing its corporate workforce by 24% as part of a restructuring plan after a quarter in which the fashion rental and resale companys number of active subscribers dipped from about 135,000 to 124,000.During the quarter ended July 31, the number of paused subscribers increased from 42,000 to 49,000, according to a presentation released Monday Sept. 12 in conjunction with the companys quarterly earnings call.During the call, company executives said the drop in subscribers was greater than expected, and they attributed it in part to the worsening macroeconomic environment and changes in consumer behavior after the pandemic. It is becoming clear to us that our
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stanley cup el differently in 2022 than they did prior to the pandemic 鈥?and this influences what they wear, Rent the Runway CEO, Co-Founder and Chair of the Board Jennifer Hyman said during Mondays cal
stanley cup uk l. We are still learning how these types of changes in customer behavior impact the business, particularly in a challenging macroenvironment. One change in behavior has to do with the continuation of remote work. For example, in 2019, over one-third of subscriber activity was related to rentals to wear to the office; in 2021 and the first half of 2022, only 20% was related to clothing worn for work.At the same time, the demand for rentals for special occasions and casual events has been higher than the company anticipated. Hyman said this may create a new seasonality for th Pnhq Alipay Rivals Get Creative With SME Finance
Days before the news broke that Target CEO Gregg Steinhafel was leaving the company, a select group of his executive team met to craft a simple but ultimately devastating message about the already wounded chief exe
kubki stanley cutive鈥攖hat it was him or them.According to reporting by The Wall Street Journal, Steinhafel was already at the end of a long struggle with his internal management team before the company was breached to the tune of tens of millions of users who saw their private information stolen and in some cases sold on the open marker.The CEO moved Target away from its founding concept鈥攃heap chic鈥攖o more common place, Walmart-like offerings, which in turn was reported to have left some higher level employees feeling as though their creative impulses were being stifled in favor of metric-based bureaucracy managed performance.Steinhafel was the handpicked successor to much beloved former CEO Robert Ulrich, who led the firm for two decades until retiring in 2008.In a release statement Ulrich noted that he and Targets board believed Stenhafel was the best candidate for the job at the time.Moving forward, Target has removed many layers of management, in an attempt to free up creative directors to re-orient the stores, and ho
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stanley mug etailer out of its recent cold streak, with customer traffic falling in six straight quarters. Whats Hot is aggregated content. PYMNTS claims no responsibility for the accuracy of the content published by the original source.
