Rent the Runway full-year sales forecast comes up short, announces new CFO

Online fashion marketplace Rent the Runway Inc. RENT on Wednesday reported better-than-expected quarterly results and said it expected a jump in subscriber growth, but it forecast full-year sales that were below expectations. The company also said that Scarlett O’Sullivan would transition out of the CFO role on May 25 and that Sid Thacker, the company’s senior vice president of finance, would replace her on that date. Shares fell 7% in after-hours trade. Executives said they expected more than 25% growth in active subscribers by the end of 2023, as well as a nearly 50% reduction in cash consumption over that time. They…