Stitch Fix Shares Skyrocket More Than 30% On Earnings Beat, Upbeat Outlook
Dec 08, 2020
Stitch Fix shares soared Monday, after the company reported a surprise profit and revenue growth of 10% from a year ago. Its stock was last up more than 33% in after-hours trading. For its fiscal first quarter ended Oct. 31, Stitch Fix reported earnings of 9 cents per share on revenue of $490.4 million, topping estimates for a loss of 20 cents per share on revenue of $481.2 million, according to Refinitiv data. Its base of active clients grew to nearly 3.8 million, up 10.2% from a year ago. Stitch Fix defines active clients as people who have bought an item directly from its website, called a “fix,” in the preceding 52 weeks from the last day of the quarter. Read more at CNBC.