Stitch Fix Inc (NASDAQ:SFIX) reported its latest quarterly earnings results after the bell today.
investorplace.com/wp-content/uploads/2017/12/Stitch-Fix-lifestyle-768×512.jpg 768w, investorplace.com/wp-content/uploads/2017/12/Stitch-Fix-lifestyle.jpg 1024w, investorplace.com/wp-content/uploads/2017/12/Stitch-Fix-lifestyle-45×30.jpg 45w, investorplace.com/wp-content/uploads/2017/12/Stitch-Fix-lifestyle-200×133.jpg 200w, investorplace.com/wp-content/uploads/2017/12/Stitch-Fix-lifestyle-400×267.jpg 400w, investorplace.com/wp-content/uploads/2017/12/Stitch-Fix-lifestyle-116×77.jpg 116w, investorplace.com/wp-content/uploads/2017/12/Stitch-Fix-lifestyle-100×67.jpg 100w,https://investorplace.com/wp-content/uploads/2017/12/Stitch-Fix-lifestyle-187×125.jpg 187w, investorplace.com/wp-content/uploads/2017/12/Stitch-Fix-lifestyle-75×50.jpg 75w, investorplace.com/wp-content/uploads/2017/12/Stitch-Fix-lifestyle-78×52.jpg 78w, investorplace.com/wp-content/uploads/2017/12/Stitch-Fix-lifestyle-800×534.jpg 800w, investorplace.com/wp-content/uploads/2017/12/Stitch-Fix-lifestyle-170×113.jpg 170w” sizes=”(max-width: 300px) 100vw, 300px” /> Source: Wikipedia
The company unveiled adjusted earnings of four cents per share during its first quarter, which beat Wall Street’s outlook of three cents per share, according to Thomson Reuters. The figure declined 71.43% year-over-year from the 14 cents per share it earned then.
Revenue was slightly better than expectations as the company raked in $296 million and analysts polled by Thomson Reuters called for sales of $295 million. The figure marked a 25% improvement compared to the year-ago mark.
The personalized online shopping service experienced considerable growth in its subscription base as the number of active clients is now at 2.4 million, a 30% gain compared to the year-ago mark. Stitch Fix defines an active client as someone who “checked out a Fix” during the preceding 12-month period.
The company’s service works by allowing customers to try out a box of clothes and these customers are able to return any items they don’t like, keep the ones they like and pay for those items alone.
“Seasonality in our business does not follow that of traditional retailers, such as typical concentration of revenue in the holiday quarter,” the company said in a statement.
For its fiscal 2018, Stitch Fix’s guidance is for sales in the range of $287 million to $297 million, while its full-year revenue is slated to be up to $1.22 billion.
SFIX shares declined 11.15% after hours following a 3.82% surge during regular trading hours Tuesday.