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MarketWatch
Stitch Fix stock sinks on lower-than-expected forecast
Stitch Fix (SFIX) reported an increase in active clients, better-than-expected fiscal first-quarter revenue and a narrower loss, but its shares sank about 20% in extended trading after rising more than 4.6% in the regular session to close at $24.97. The company, which sells clothing through subscriptions and more, reported a first-quarter net loss of $1.8 million, or 2 cents a share, compared with net income of $9.5 million, or 9 cents a share, in the year-ago period. Analysts surveyed by FactSet had forecast a net loss of 14 cents a share on revenue of $570.8 million, and adjusted Ebitda of $17.5 million.
