Stitch Fix surge on upbeat 2025 revenue forecast
11/12/2024 10:48
** Shares of online styling service Stitch Fix SFIX.O rise
25% to $5.75 premarket
** On Tuesday, SFIX forecast FY25 net rev. between $1.14 bln
and $1.18 bln, up from the prior $1.11 bln to $1.16 bln range
** Co's Q1 sales of $318.8 mln beat analysts' est. of $306.9
mln, according to LSEG data, driven by strong growth in revenue
per active client
** Co reported Q1 adjusted loss of 5 cents/shr, smaller than
expected loss of 14 cents/shr - LSEG
** Brokerage Canaccord Genuity raises PT on SFIX to $6 from
$5; maintains "hold" rating
** Says co benefited from its new "Retail Therapy" marketing
campaign
** As of last close, stock has risen ~30% YTD
(Reporting by Kamal Choudhury in Bengaluru)
((Kamal.Choudhury@thomsonreuters.com;))