Stitch Fix beats Q3 sales estimates, to explore UK exit; shares jump
06/06/2023 22:04
** Shares of online personalized styling service company
Stitch Fix SFIX.O up ~4% at $3.85 in extended trading
** Co beats Q3 revenue expectations on steady demand for
orders from shoppers
** Q3 revenue falls ~20% to $394.9 mln, but tops analysts'
average estimate of $388.9 mln, per Refinitiv data
** Says co has concluded the need to explore exiting the UK
market in FY24
** Co, however, forecasts current-quarter sales below Wall
Street estimates; sees Q4 revenue between $365 mln and $375 mln,
vs analysts' estimate of $379.4 mln
** Up to today's close, stock had risen 18.3% in 2023
(Reporting by Anne Florentyna Gnanaraja Sekar in Bengaluru)
((AnneFlorentyna.GnanarajaSekar@thomsonreuters.com;))