Stitch Fix, Inc. (NASDAQ: SFIX) shares are experiencing volatility in the after-hours session on Monday following the company’s report of its fourth-quarter earnings.
What You Need to Know: Stitch Fix reported a quarterly loss of 24 cents per share, missing the analyst consensus estimate of a loss of 21 cents. This represents a 63.08% increase in losses compared to the same period last year. However, the company’s quarterly sales of $375.80 million exceeded the analyst consensus estimate of $371.36 million, marking a 22.02% decrease from the same period last year.
Active clients for the full-year 2023 were reported at 3,297,000, showing a 13% decrease year-over-year.
The company provided first-quarter U.S. net revenue guidance ranging between $355 million and $365 million. Additionally, U.S. full-year 2024 net revenue is expected to be between $1.3 billion and $1.37 billion.
“Since joining Stitch Fix in late June, I have spent time assessing every aspect of our business, operating model, and organization; getting to know what our clients feel we do well and where we can do better; and identifying opportunities to both optimize in the short term and reimagine for the future,” said CEO Matt Baer.
“Our current business results are not indicative of what I believe this Company can deliver, and I am committed to realizing the full potential of Stitch Fix and driving long-term, profitable growth.”
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SFIX Price Action: Shares of SFIX were up 0.33% at $3.06 in the after-hours session at the time of publication, according to Benzinga Pro.
Image by JamesDeMers from Pixabay
