Stitch Fix (NASDAQ:SFIX) earnings for the online styling service’s fiscal third quarter of 2020 have SFIX stock on the move in after-hours trading Monday. The company reported diluted losses per share of 33 cents. That’s worse than Wall Street’s estimate for a loss of 16 cents. Its revenue of $371.73 million also misses analysts’ estimates of $406.66 million.
Here’s what else is worth mentioning from the most recent Stitch Fix earnings report.
- Diluted per-share losses are much worse than its diluted EPS of 7 cents from the same time last year.
- Revenue for the quarter comes in 9% lower than the $408.89 million in fiscal Q3 2019.
- Operating loss of $46.06 million is 907.9% wider year-over-year from its loss of $4.57 million.
- The Stitch Fix earnings report also has it facing a net loss of $33.9 million.
- That’s a negative change next to its net income of $7.05 million from the same period of the year prior.
Katrina Lake, founder and CEO of Stitch Fix, said this about the earnings report.
“We grew active clients to 3.4 million, an increase of 9% year over year, and grew net revenue per active client by 6% year over year, our eighth consecutive quarter of growth and a reflection of our loyal and engaged client base.”
Stitch Fix isn’t providing an update for fiscal 2020 in its earnings report. The company says that there are still “too many variables at play to speculate on specific guidance ranges.”
SFIX stock was down 5.7% after markets closed on Monday.
As of this writing, William White did not hold a position in any of the aforementioned securities.