Stitch Fix (NASDAQ:SFIX) earnings for the online clothing retailer’s fiscal first quarter of 2020 have SFIX stock taking off on Monday. This comes after reporting flat diluted EPS for the period. That’s above Wall Street’s estimate of -6 cents per share. Revenue of $444.82 million is also better than analysts’ estimates of $441 million for the period.
Now for a more in-depth examination of the Stitch Fix earnings report.
- Diluted EPS is down 100% from the 10 cents reported in the fiscal first quarter of 2019.
- Revenue comes in 21.46% higher than the $366.24 million reported in the same period of the year prior.
- The report also includes an operating income of $160,000.
- This is a 98.53% drop from the company’s operating income of $10.90 million from the same time last year.
- The Stitch Fix earnings also see it reporting a net loss compared to a net profit in fiscal Q1 2019.
Katrina Lake, founder and CEO of Stitch Fix, has this to say about the SFIX stock earnings.
“We grew our active clients to 3.4 million, an increase of 17% year over year. Demonstrating the power of our data science, we continued to delight our clients, growing revenue per active client by 10% year over year, our sixth consecutive quarter of growth. We are excited by early results from our direct-buy initiatives, and believe these initiatives have the potential to expand our addressable market over time.”
SFIX stock was up 8.99% after markets closed on Monday.
As of this writing, William White did not hold a position in any of the aforementioned securities.