Stitch Fix Stock Surges As Sales Come Roaring Back

Stitch Fix reported the results of its fiscal third quarter (ended May 1) after the market closed Monday, and investors cheered the better-than-expected performance, driving share up as much as 17% in after-hours trading. Net revenue of $535.6 million grew 44% year over year, easily surpassing the 39% growth at the high end of management’s forecast, while also eclipsing the 12% growth it generated in Q2. The bottom line also got a boost, as its loss per share of $0.18 improved from a loss of $0.33 in the prior-year quarter. For context, analysts’ consensus estimates were calling for revenue of $510.6 million, resulting in a loss of $0.27. Read more at The Motley Fool.