Stock Groups

Stitch Fix Plunges After Surprise Q1 Loss; Revenue Guidance Misses -Breaking

by Mike Robinson

[ad_1]

© Reuters.

By Yasin Ebrahim

Investing.com – Stitch Fix (NASDAQ:) plunged Tuesday in after-market hours after reporting a surprise fiscal first-quarter loss and painting a dour outlook in a sign that the online personal styling service company is struggling to recapture its pandemic-fueled growth.  

Stitch Fix’s (NASDAQ:SFIX), stock was lower by more than 15% during after-market hours.

 

According to consensus estimates, the loss was 2 cents per share. Revenue of $581.2 million exceeded expectations of $415570.5 Million.

The number of active clients increased 11 percent to 4.2million over the previous-year period.

The company expects fiscal quarter 2 revenue to be between $505 and $520 million. This is less than analysts’ estimates of $586.1 million.

According to the company, “For the entire fiscal year 2022 which will end on July 30, 2022 we expect year over year net revenue growth at an extremely high single-digit rate, and that adjusted EBITDA margins of between 1% and 2 percent.”

Disclaimer: Fusion MediaThis website does not provide accurate and current data. CFDs include stocks, indexes and futures. Prices are provided not by the exchanges. Market makers provide them. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media is not responsible for trading losses that may be incurred as a consequence of the use of this data.

Fusion MediaFusion Media and anyone associated with it will not assume any responsibility for losses or damages arising from the use of this information, including buy/sell signal data. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.

[ad_2]