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Stitch Fix Plunges After Surprise Q1 Loss; Revenue Guidance Misses

Published 07/12/2021, 22:46
© Reuters.
SFIX
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By Yasin Ebrahim

Investing.com - Stitch Fix (NASDAQ:SFIX) plunged Tuesday in after-market hours after reporting a surprise fiscal first-quarter loss and painting a dour outlook in a sign that the online personal styling service company is struggling to recapture its pandemic-fueled growth.  

Stitch Fix (NASDAQ:SFIX) was down more than 15% in after-market hours.

 
The company reported a loss of 2 cents a share, missing consensus estimates of 15 cents, while revenue of $581.2 million topped estimates for $415570.5 million.

Active clients rose 11 % to 4.2 million on the prior-year period.

Looking ahead, the company forecast fiscal second quarter revenue of $505 million to $520 million, short of analysts estimates for $586.1 million.

"For the full fiscal year 2022, which ends on July 30, 2022, we expect year-over-year net revenue growth at a high single-digit rate and adjusted EBITDA margin to be between 1% and 2%," the company said.

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