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Stitch Fix Surging After Q3 Earnings, Sales Beat

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Stitch Fix Surging After Q3 Earnings, Sales Beat

Stitch Fix Inc (NASDAQ: SFIX) shares are surging after posting a third-quarter earnings beat.

Earnings came in at 7 cents per share, beating estimates by 10 cents. Sales came in at $408.9 million, beating estimates by $14.05 million.

“Q3 was another strong quarter for us, delivering net revenue of $408.9 million, exceeding our guidance and representing 29% year-over-year growth,” said Stitch Fix founder and CEO Katrina Lake. “We grew our active clients to 3.1 million, an increase of 17% year over year. At the same time, we continue to drive engagement with our existing client base, growing revenue per active client 8% year over year. These results demonstrate our ability to attract new clients and to serve our existing clients well.

"The continued strength of our Women’s category and the growth of our Men’s category give us even more confidence in our ability to scale new categories and geographies. As I look forward, I’m excited about the opportunities ahead to delight even more clients around the world.”

Other Highlights

  • Active clients of 3.1 million, an increase of 17 percent year over year
  • Net revenue increased of 29 percent year over year

In after-hours trading, Stitch Fix shares were up 25 percent to $29.59 at time of publication. The stock closed Wednesday at $23.57.

Related Links:

Stitch Fix Soars On Q2 Earnings Growth, Touts 3 Million Active Users

Wall Street Is Signing Up For Stitch Fix

Photo courtesy of Stitch Fix.

Posted-In: Katrina LakeEarnings News Top Stories After-Hours Center Movers Trading Ideas Best of Benzinga

 

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