Stitch Fix Swings To A Quarterly Loss And Softens Outlook On Shipping Delays; Shares Plunge

Stitch Fix on Monday reported a narrower-than-expected loss for its latest quarter, but the company missed analysts’ expectations for revenue and outlook as shipping delays and lower customer spend ate into sales. The stock plunged 21% in extended trading. The subscription styling service lowered its revenue forecast for the current quarter and fiscal year, citing ongoing uncertainty stemming from the coronavirus pandemic and longer purchase cycles resulting from delivery issues. Read more at CNBC.