Stitch Fix, Inc. (NASDAQ:SFIX) shares are volatile in Monday’s after-hours session after the company reported fourth-quarter earnings.
What To Know: Stitch Fix reported quarterly losses of 24 cents per share which missed the analyst consensus estimate of losses of 21 cents, a 63.08% increase over losses of 65 cents per share from the same period last year. The company reported quarterly sales of $375.80 million which beat the analyst consensus estimate of $371.36 million, a 22.02% decrease over sales of $481.90 million from the same period last year.
Active clients for the full-year 2023 were reported at 3,297,000, a decrease of 13% year-over-year.
The company issued first-quarter U.S. net revenue guidance in a range between $355 million and $365 million. U.S. full-year 2024 net revenue is anticipated to be between $1.3 billion and $1.37 billion.
“Since joining Stitch Fix in late June, I have spent time assessing every aspect of our business, operating model, and organization; getting to know what our clients feel we do well and where we can do better; and identifying opportunities to both optimize in the short term and reimagine for the future,” said CEO, Matt Baer.
“Our current business results are not indicative of what I believe this Company can deliver, and I am committed to realizing the full potential of Stitch Fix and driving long-term, profitable growth.”
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SFIX Price Action: Shares of SFIX were up 0.33% at $3.06 in the after-hours session at the time of publication, according to Benzinga Pro.
Image by JamesDeMers from Pixabay
