5 Notable Earnings Reports to Watch

3. Stitch Fix, Inc. (NASDAQ:SFIX)

Number of Hedge Fund Holders: 35

Shares of Stitch Fix, Inc. (NASDAQ:SFIX) plunged to an all-time low in the pre-market trading session on Wednesday, March 9, 2022, after issuing a disappointing sales outlook for its fiscal third quarter.

Stitch Fix, Inc. (NASDAQ:SFIX) guided for revenue in the range of $485 – $500 million for the current quarter, representing a drop of 10 – 7 percent over the comparable period last year. The outlook also missed the consensus of $560.5 million.

The weak sales forecast overshadowed the company’s better-than-expected results for its fiscal second quarter. Stitch Fix, Inc. (NASDAQ:SFIX) reported a loss of 28 cents per share for three months ended January 29, 2022, compared to a loss of 20 cents per share in the same period last year.

Revenue came in at $516.7 million, up from $504.1 million in the year-ago period. Analysts were expecting Stitch Fix, Inc. (NASDAQ:SFIX) to report a loss of 29 cents per share on revenue of $515.12 million.

Among other updates, Stitch Fix, Inc. (NASDAQ:SFIX) reported that its active clients crossed the four million mark at the end of the quarter, representing a growth of about 4 percent on a year-over-year basis.