PREVIEW: Stitch Fix seen reporting narrower loss, revenue decline
18/09/2023 20:41
** Shares in personalized fashion retailer Stitch Fix SFIX.O
down 5.9% to $3.04 in active trading session ahead of fiscal Q4
financial report due out after market close
*** Wall St analysts see SFIX, which operates in the US and
the UK, reporting adj quarterly loss of $0.21/shr vs year-ago
quarterly loss of 0.89/shr while they expect revenue of $371.4
mln, which would be down ~23% y/y, according to consensus
estimates aggregated by Refintiv
** At SFIX, which says it recommends clothes based on a mix
of human judgment and algorithmic analysis of the information it
has about its customers preferences, in last 8 quarters rev met
or beat expectations 4 times
** SFIX had said in June that it would explore exiting the
UK market in its fiscal year 2024, blaming a weakening macro
environment and increasing costs
** Median PT of $4.55 has fallen from $4.60 a month ago,
according to Refinitiv which shows 15 analysts covering the co
with 13 'hold' ratings and 2 'sell'
** After falling 86% in 2022, the stock hasn't strayed too
far from its $3.11 close of the year so far in 2023
(Reporting By Sinéad Carew)
((sinead.carew@thomsonreuters.com; +13322191897;))