Katrina Lake, CEO of Stitch Fix
Adam Jeffery | CNBC
Stitch Fix on Monday reported a narrower-than-expected loss in its latest quarter, but it missed analysts’ expectations for revenue.
Shares of the company plunged 15% in extended trading.
Here’s what the company reported for the quarter ended Jan. 30 compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:
- Loss per share: 20 cents vs. 22 cents expected
- Revenue: $504.1 million vs. $512.2 million expected
The subscription service reported a fiscal second-quarter net loss of $21 million, or 20 cents per share, down from a profit of $11.4 million, or 11 cents per share, a year earlier. Analysts surveyed by Refinitiv were expecting a loss per share of 22 cents.
Net sales rose 12% to $504.1 million, falling short of expectations of $512.2 million. Active clients spent $467 on average, down 7% compared to the same time a year ago.
The company added 110,000 new active clients during the quarter for a total roster of almost 3.9 million. It has added more active clients in the first half of fiscal 2021 than it did for all of the previous fiscal year. Stitch Fix defines active clients as people who have bought an item directly from its website in the preceding 52 weeks from the last day of the quarter.
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