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.

Market News and Data brought to you by Benzinga APIs
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsMoversTrading IdeasElizabeth Spauldingwhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!