Why Stitch Fix Is Trading Higher Today

Why Stitch Fix Is Trading Higher Today

Stitch Fix Inc SFIX stock is trading higher Tuesday morning after the company announced better-than-expected financial results. 

What Happened: Stitch Fix reported a quarterly earnings loss of 18 cents per share Monday, which beat the Street estimate for a loss of 27 cents per share. The company reported quarterly revenue of $535.6 million, which beat the estimate of $510.54 million. 

“In Q3 we delivered $536 million in net revenue, reflecting 44% year-over-year growth, and grew our active client count to more than 4.1 million, reflecting 20% year-over-year growth and our second highest quarter-over-quarter active client additions ever," Elizabeth Spaulding, the president and incoming CEO of Stitch Fix, said in a statement. 

Related Link: Stitch Fix: Q3 Earnings Insights

Spaulding will participate in a virtual fireside chat at the Baird Global Consumer, Technology, and Services Conference on June 10.

SFIX Price Action: Stitch Fix has traded as high as $113.75 and as low as $21.60 over a 52-week period.

At last check Tuesday, the stock was up 12% in premarket trading at $64.90.

Photo by Angie Six from Flickr.

Posted In: Elizabeth Spauldingwhy it's movingEarningsNewsMoversTrading Ideas