Stitch Fix falls on annual rev forecast cut

Stitch Fix

04/03/2024 22:07

** Shares of online styling service Stitch Fix  SFIX.O  fall
~13% to $2.85 after the bell
    ** Co lowers 2024 net rev to be between $1.29 bln to $1.32
bln, from previous forecast of $1.30 bln to $1.37 bln
    ** Analysts estimate 2024 net rev of $1.35 bln - LSEG data
    ** Co sees Q3 net rev from continuing operations to be
between $300 mln and $310 mln vs estimates of $322.3 mln
    ** For Q2 co reports net rev of $330.40 mln vs estimates of
$330.86 mln
    ** During Q1 co ceased operations of its UK business
    ** Stock has fallen ~35% in the last 12 months

 (Reporting by Sriparna Roy in Bengaluru)
 ((Sriparna.Roy@thomsonreuters.com;))