Don't Be Fooled. Stitch Fix's Quarter Was Better Than You Think
The Stitch Fix (NASDAQ: SFIX) third-quarter results are in, and they're not pretty.
At a time when most e-commerce companies were seeing sales surge, the online personalized styling service was moving in the opposite direction. Revenue fell 9.1% in the quarter ended May 2 to $371.7 million, badly missing estimates at $406.7 million. The bottom line wasn't any better as the company posted a per-share loss of $0.33, down from a profit per share of $0.07 in the quarter a year ago and worse than expectations at a loss of $0.16.
Wall Street, which seems to be sending almost every stock to the moon these days, gave the report a thumbs-down, with the stock falling 5.5% Tuesday.
Source Fool.com
