Stitch Fix Stock Surges as Sales Come Roaring Back
Stitch Fix (NASDAQ: SFIX) 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.
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Source Fool.com
