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SAN FRANCISCO - Stitch Fix Inc. (NASDAQ:SFIX) shares surged 21.7% in after-hours trading Tuesday after the online personal styling service reported a narrower-than-expected loss and provided upbeat guidance for the current quarter.
The company posted a fiscal first-quarter loss of $0.05 per share, beating analyst estimates for a $0.14 per share loss. Revenue came in at $318.8 million, topping expectations of $307.04 million but down 12.6% YoY.
For the fiscal second quarter, Stitch Fix forecast revenue between $290 million and $300 million, ahead of the $283.6 million consensus estimate.
"Our fiscal year is off to a strong start. We exceeded our expectations in the first quarter on the top and bottom lines," said CEO Matt Baer. He added that clients are responding positively to new assortment offerings and improvements to the client experience.
The company ended the quarter with 2.43 million active clients, down 18.6% YoY but representing a slower rate of decline compared to recent quarters. Net revenue per active client rose 4.9% YoY to $531.
Gross margin expanded 180 basis points to 45.4%, which the company attributed to improved transportation leverage and product margins.
Stitch Fix maintained its full-year fiscal 2025 revenue outlook of $1.14 billion to $1.18 billion. The company continues to expect a return to revenue growth by the end of fiscal 2026.
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