Stitch Fix Inc. (SFIX - Free Report) just released its latest quarterly results, posting earnings of 9 cents per share and revenues of $316.7 million.
Currently, SFIX is a #3 (Hold) on the Zacks Rank, but that could change based on today’s results. Shares of the digital retail company have fallen more than 14% over the past month and were down 4.65% during regular trading hours today.
However, the stock is currently up nearly 12% to $22.00 per share in after-hours trading shortly after its earnings report was released.
Beat earnings estimates. The company reported diluted earnings of 9 cents per share, easily beating the Zacks Consensus Estimate of 3 cents per share. Net income was $9.5 million and adjusted EBITDA was $12.4 million.
Beat revenue estimates. The company saw revenue figures of $316.7 million, also topping our consensus estimate of $306.45 million and surging 29% year-over-year
For Q3, active clients hit 2.7 million, increasing 30% year-over-year.
Stitch Fix also announced the upcoming launch of Stitch Fix Kids, and the goal for the company is to “provide unique, affordable kids clothing in a wide range of styles, giving our littlest clients the freedom to express themselves in clothing that they love and feel great wearing.”
“We continue to balance growth and profitability, demonstrated by our ability to consistently deliver top-line growth of over 20% even as we invest in category expansions, technology talent, and marketing. Our third quarter results demonstrate continued positive momentum for Stitch Fix and the power of our unique ability to deliver personalized service at scale,” said founder and CEO Katrina Lake.
Here’s a graph that looks at Stitch Fix’s recent earnings performance:
Stitch Fix, Inc. provides an online subscription and personal shopping platform. The Company offers shirts, jackets, sweaters, blazers, leggings, vests, scarfs, jeans, loafers and boots for men and women. Stitch Fix, Inc. is based in San Francisco, United States.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research. It's not the one you think. See This Ticker Free >>