Rent the runway overhauls subscription plan as pandemic reshapes business

Rent the Runway is overhauling its membership plans, doing away with an unlimited rental option, as consumers change what they wear and how they shop for clothes during the coronavirus pandemic. CEO Jenn Hyman said the changes have been in the works for about 18 months, even before Covid-19. The pandemic, however, has accelerated many of the decisions and investments that the company is making. It announced plans last month to permanently close its stores, shifting its focus to digital and expanding its network of drop boxes. Read more at CNBC.