Stitch Fix shares skyrocket more than 30% on earnings beat, upbeat outlook

Katrina Lake, founder and chief executive officer of Stitch Fix Inc.

Patrick T. Fallon | Bloomberg | Getty Images

Stitch Fix shares soared Monday, after the company reported a surprise profit and revenue growth of 10% from a year ago.

Its stock was last up more than 32% in after hours trading.

For its fiscal first quarter ended Oct. 31, Stitch Fix reported earnings of 9 cents per share on revenue of $490.4 million, topping estimates for a loss of 20 cents per share on revenue of $481.2 million, according to Refinitiv data.

The online personal styling service also said it now expects to deliver between 20% and 25% revenue growth for fiscal 2021.

In tandem with the earnings report, it announced the appointment of Dan Jedda, formerly VP and CFO of digital video at Amazon, as its CFO, effective Wednesday.

As of Monday’s market close, Stitch Fix shares are up nearly 40% year to date, bringing its market cap to $3.7 billion.

This story is developing. Please check back for updates.

Find the complete earnings release and presentation from Stitch Fix here.

Speak Your Mind

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Get in Touch

350FansLike
100FollowersFollow
281FollowersFollow
150FollowersFollow

Recommend for You

Oh hi there 👋
It’s nice to meet you.

Subscribe and receive our weekly newsletter packed with awesome articles that really matters to you!

We don’t spam! Read our privacy policy for more info.

You might also like

Singapore PM Takes The Stand In Defamation Case Against...

SINGAPORE: Singapore’s prime minister testified in court on Tuesday in his defamation case against...

Mankind on an Asteroid: Why Osiris-Rex Landing on Bennu...

Osiris-Rex has not been the most high profile space probe in recent memory –...

Canada says requirements for Huawei CFO’s extradition to U.S....

Canada’s attorney general says the requirements for extraditing Huawei Chief Financial Officer Meng Wanzhou...