Stitch Fix Stock Soars On Q3 Results: Here's Why
Portfolio Pulse from Erica Kollmann
Stitch Fix, Inc. (NASDAQ:SFIX) shares surged after the company reported better-than-expected Q3 financial results. The company posted a quarterly loss of 18 cents per share, beating the analyst estimate of 24 cents. Quarterly sales were $322.7 million, surpassing the $306.121 million estimate. Despite a decrease in active clients, net revenue per active client increased, and gross margin improved. The company provided a positive outlook for Q4 and full-year revenue.
June 04, 2024 | 8:49 pm
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Stitch Fix reported better-than-expected Q3 results, with a quarterly loss of 18 cents per share and sales of $322.7 million, both beating analyst estimates. Despite a decrease in active clients, net revenue per active client increased, and gross margin improved. The company provided a positive outlook for Q4 and full-year revenue.
The better-than-expected Q3 results and positive outlook for Q4 and full-year revenue are likely to boost investor confidence, leading to a short-term increase in SFIX stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100