Shares of Stitch Fix soared as much as 20 percent in extended trading Monday following the release of the online personal styling company's strong second-quarter earnings. Beating on the top and bottom lines, Stitch Fix posted earnings per share of 12 cents on revenues of $370 million. Wall Street expected earnings of 5 cents on revenues of $365 million, according to Refinitiv.
div > div.group > p:first-child"> "Since becoming a public company, we have posted six consecutive quarters of over 20% growth, which demonstrates our ability to drive consistent business performance," said Founder and CEO Katrina Lake in a release. Stitch Fix's active clients came in at 2.96 million users, beating the estimated 2.95 million. This is an increase of 18 percent year over year.
"We launched our first integrated brand campaign in February to increase awareness and consideration with new and existing clients and we're excited to connect even more people to the power of personalized styling," said Lake. Stitch Fix issued strong third-quarter and full-year guidance. The company estimates revenues between $388 and $398 million, compared to the $384 million forecast by Refinitiv.This story is developing. Please check back for updates.
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