5 Stocks Making Headlines After Financial Results

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

Number of Hedge Fund Holders: 30

Stitch Fix, Inc. (NASDAQ:SFIX) managed to beat expectations for its fiscal first-quarter, but its sales outlook fell short of estimates. The disappointing guidance sent its shares down more than 26 percent in the pre-market trading session on Wednesday, December 8, 2021.

The San Francisco-based personal styling service reported a loss of 2 cents per share, compared to earnings of 9 cents per share. Analysts were expecting Stitch Fix, Inc. (NASDAQ:SFIX) to post a loss of 14 cents per share.

Revenue for the quarter climbed 19 percent on a year-over-year basis to $581 million, beating expectations of $571 million. Looking forward, Stitch Fix, Inc. (NASDAQ:SFIX) expects revenue in the range of $505 – $520 million for its fiscal second quarter, well below the consensus forecast of $585 million.

Speaking on the results, CEO of Stitch Fix, Inc. (NASDAQ:SFIX), Elizabeth Spaulding, said:

“These quarterly results reflect a strong performance in our business from both Fix and Freestyle. With the launch of Stitch Fix Freestyle we are expanding and broadening our offering, and we are excited to continue to enhance the experience for clients through the introduction of new product features and expanded merchandise selections, increasing the number of purchase occasions we serve.”