Stitch Fix Q4 revenue beats, CEO says company has ‘successfully navigated’ coronavirus
Stitch Fix announced its fourth quarter earnings report after hours on Tuesday, with the company beating investor’s expectations on both top and bottom lines. The company’s CEO said that the retail company ‘successfully navigated the deadest impacts’ of the coronavirus, but released no guidance. Yahoo Finance’s Myles Udland breaks down the company’s earnings report.
Video Transcript
SEANA SMITH: Of course, we are also getting some earnings results. We know that that is a big importance here for investors as we try and just figure out what companies are able to weather this downturn and really position themselves for the next couple of months. And with that, we have Stitch Fix out with earnings. Their stock popping a little bit here in the wake of those results of just around 3%. Myles has the numbers for us. Myles?
MYLES UDLAND: Yeah, Seana, Stitch Fix coming in here better than expected on the top line. Revenue for the fourth quarter of Stitch Fix's fiscal fourth quarter $443.4 million. That's better than the $415 that the Street was looking for. Now, the company reports a deluded per share loss of $0.44 may not compare to the adjusted loss per share expectations of $0.17.
And as you mentioned, the stock is higher so it doesn't look like that number, again, compares exactly to estimates. But deluded lost per share, again, $0.44 for a Stitch Fix. Active clients during the quarter up 9% to 3 and a half million. Revenue per client, $486-- that is up 2% from the prior year.
The company's CEO Katrina Lake saying in the press release that they believe they've successfully navigated the deepest impacts of COVID. So this is a stock again that is down around $11 a share, I think, at its low back in March or even early April. $31 per share-- $32 per share in the after hours, up about 1%. But this is a stock-- it was up 8% today in the regular trading and has really been on quite a heater through the summer here.
SEANA SMITH: Certainly has been. Up just around-- just over 20%, though, so far this year. All right, Myles.
