Katrina Lake, CEO of Stitch FixAdam Jeffery | CNBCStitch Fix on Monday reported a narrower-than-expected loss for its latest quarter, but the compan
Katrina Lake, CEO of Stitch Fix
Adam Jeffery | CNBC
Stitch Fix on Monday reported a narrower-than-expected loss for its latest quarter, but the company missed analysts’ expectations for revenue and outlook as shipping delays and lower customer spend ate into sales.
The stock plunged 21% in extended trading.
The subscription styling service lowered its revenue forecast for the current quarter and fiscal year, citing ongoing uncertainty stemming from the coronavirus pandemic and longer purchase cycles resulting from delivery issues.
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
Stitch Fix 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. Shipping delays over the holiday season meant that the…