Why Stitch Fix Shares Are Trading Higher Wednesday (CORRECTED)
Portfolio Pulse from Dylan Berman
Stitch Fix, Inc. (NASDAQ:SFIX) shares surged after the company reported better-than-expected quarterly earnings and issued optimistic fiscal-year guidance. The company posted a smaller-than-expected loss per share and higher-than-expected sales, with a 16% year-over-year increase in sales. Analysts have adjusted their price targets following the announcement.
June 05, 2024 | 4:02 pm
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Stitch Fix reported a smaller-than-expected loss per share and higher-than-expected sales for the fiscal-year third quarter, with a 16% year-over-year increase in sales. The company also issued optimistic guidance for the next quarter and the entire fiscal year, leading to a significant rise in its stock price.
The better-than-expected earnings and optimistic guidance indicate strong performance and future potential, which has positively impacted investor sentiment, leading to a significant rise in the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100