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Stitch Fix Soars After Quarterly Sales Forecast Tops Estimates

Stitch Fix made its overseas foray into the UK in early 2019. (Stitch Fix)

Bloomberg

07 June 2021

Stitch Fix shares jumped in postmarket trading after the company that recommends and sells clothes online projected fiscal fourth-quarter revenue that topped average analyst expectations.

Stitch Fix expects net revenue of $540 millon to $550 million, it said in a statement. That compares with analyst estimates of $534.8 million, according to data compiled by Bloomberg. The San Francisco-based company’s fiscal third quarter net revenue of $535.6 million and loss per share of 18 cents were also better than Wall Street was anticipating.

The stock jumped more than 15% in postmarket trading. Stitch Fix shares had fallen about 1 percent since the start of the year based on Thursday’s closing price.

By: Jeran Wittenstein

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Stitch Fix

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