Stitch Fix Trades Higher On Q1 Earnings Beat, CFO To Step Down

Stitch Fix Inc SFIX shares were rising in Monday's after-hours session after the online styling service reported a first-quarter earnings beat. 

Earnings came in flat, beating estimates by 6 cents per share. Sales came in at $444.8 million, beating estimates by $3.8 million.

The company announced that CFO Paul Yee will leave the company to pursue other career opportunities.

“We had another quarter of great momentum in Q1, delivering net revenue of $445 million, exceeding guidance and representing 21% year-over-year growth,” Stitch Fix founder and CEO Katrina Lake said in a statement.

“We grew our active clients to 3.4 million, an increase of 17% year over year. Demonstrating the power of our data science, we continued to delight our clients, growing revenue per active client by 10% year over year, our sixth consecutive quarter of growth."

The stock was trading up 1.77% at $25.46 at the time of publication. 

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Photo courtesy of Stitch Fix.