Stitch Fix Stock Soars 12% on Earnings Beat: 7 Metrics You Should See
Stitch Fix (NASDAQ: SFIX) reported first-quarter fiscal 2020 results after the market closed on Monday, Dec. 9. Investors in need of a good-news fix got one, as the online personalized apparel retailer beat Wall Street's consensus estimates for both the top and bottom lines. That said, expectations were relatively low because last quarter, Stitch Fix had guided for a soft Q1, as I discussed in my earnings preview.
Shares popped 11.9% in after-hours trading on Monday. We can attribute the market's initial reaction to the Q1 revenue and earnings beats, along with relief that there were no negative surprises on the revenue guidance front.
Stitch Fix stock has gained 46.4% in 2019 through the regular trading session on Monday, compared with the S&P 500's 27.5% return. While it's making a strong comeback, it's still 51% off its all-time high set in September 2018, less than a year after its initial public offering in November 2017.
Source Fool.com
