Stitch Fix Inc (NASDAQ:SFIX) reported its latest quarterly earnings results, which missed expectations.
The online subscription and personal shopping service’s profit reported its second quarter results adjusted earnings came in at 2 cents per shareWhen including a one-time benefit linked to changes in the U.S. tax code, the company earned 7 cents per share, ahead of analysts’ expectations of 6 cents per share.
Revenue came in at $295 million for Stitch Fix as it reaches the halfway point of fiscal 2018, which marked a 24% gain compared to the year-ago quarter, marking the fourth consecutive quarter of revenue growth in the range of 25%. The figure beat the Wall Street consensus estimate of $292 million, while the company’s active client base grew by 588,000, or 31%, to 2.5 million.
“This quarter also marked the fourth consecutive quarter that we grew net revenue in the range of 25% year-over-year,” said Stitch Fix CEO Katrina Lake in prepared remarks. “In addition to strong momentum across our men’s and women’s categories, we’re excited about the potential of Extras, a new capability that allows us to serve more of our client’s wardrobe, while increasing incremental revenue.”
SFIX stock fell about 3.1% after the bell Monday on the earnings miss.