Stitch Fix soars as Q3 revenue beats estimates
05/06/2024 10:28
** Shares of online styling service Stitch Fix SFIX.O jump
18.35% to $3.16 in premarket trading
** Company reports Q3 revenue of $322.7 mln, above $306.1
mln estimate - LSEG data
** Its Q3 diluted loss/share narrows to 18 cents, compared
to a 19 cents/share loss in the year-ago period
** SFIX expects FY24 net revenue in the $1.33 bln to $1.34
bln range, above estimate of $1.31 bln - LSEG data
** Active clients down 20% YoY, net revenue per active
client of $525, up 2% YoY
** Eight of 10 brokerages rate the stock "hold" and two
"sell"; their median PT is $3.5
** As of last close, SFIX stock has fallen 25.21% YTD versus
a 12% jump in the Nasdaq .IXIC
(Reporting by Nikhil Sharma in Bengaluru)
((nikhil.sharma@thomsonreuters.com))