Stitch Fix (NASDAQ:SFIX) stock is on the rise Tuesday following a couple bits of positive news for the direct sales fashion company. The first is its fiscal Q1 2021 earnings report, which includes diluted earnings per share of 9 cents on revenue of $490.42 million. Both of these are better than Wall Street’s estimates of diluted losses per share of 20 cents on revenue of $481.2 million.
Here are some additional highlights worth noting from the SFIX earnings report.
- Diluted per-share earnings are up from flat results in the same period of the year prior.
- Revenue for the quarter comes in 10% higher than the $444.82 million reported in fiscal Q2 2020.
- Operating loss of$19.53 million is a negative switch year-over-year from an operating income of $160,000.
- The Stitch Fix earnings report also has net income coming in at $9.54 million.
- That’s a major improvement over its net loss of $178,000 from the same time last year.
Strong guidance in the Stitch Fix earnings report is also helping out SFIX stock today. The company is expecting revenue for fiscal Q2 2021 to range from $506 to $515 million. That’s looking good compared to Wall Street’s estimate of $507.21 million for the quarter. It’s fiscal 2021 revenue estimate of $2.05 to $2.14 billion is also better than analysts’ estimates of $2.01 billion.
Another bit of Stitch Fix news pushing SFIX stock up today is its new CFO. Dan Jedda is taking over the position on Wednesday. He joins the company after serving as the vice president and CFO of Digital Video, Digital Music, and Advertising and Corporate Development at Amazon (NASDAQ:AMZN).
SFIX stock was up 44.2% as of Tuesday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.