According to a study by consulting firm McKinsey, buy-now-pay-later services represented six percent of unsecured loans in the United States in 2016, nine percent in 2020 and are expected to rise to 13 percent in 2023.
U.S. retail sales surged in October as Americans eagerly started their holiday shopping early to avoid empty shelves amid shortages due to the pandemic, giving the economy a lift at the start of the fourth quarter.
The Chico, California-based womenswear company popular with millennial and Gen-Z consumers, announced on Monday that it is launching its initial public offering with 5.75 million shares of its common stock.
The company revealed on Tuesday that it will offer some 15 million shares, which it expects to sell for between $18 and $21 apiece. At $21 a share, Rent the Runway’s valuation could hit nearly $1.3 billion.