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Stitch Fix Soars Midday as Earnings Suit Investors

Stock MarketsMar 12, 2019 11:55AM ET
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Investing.com - Online custom clothing company Stitch Fix rocketed higher midday thanks to solid quarterly results and guidance.

Stitch Fix (NASDAQ:SFIX) shares soared 26%, while the S&P 500 consumer discretionary index rose 1.5%.

The company reported fiscal second-quarter earnings of 12 cents per share, topping the consensus forecast of 5 cents per share compiled by Investing.com.

Revenue climbed 25% from the year-ago period, to $370.3 million, above expectations of $364.9 million. The number of active users rose to 3 million from 2.9 million in the previous quarter.

Looking ahead, the company predicts fiscal third-quarter revenue of $388 million to $398 million, topping the S&P Capital IQ consensus of $384.4 million.

Stitch Fix had been rallying to start the year before today’s spike. But shares are still well off the 52-week high of more than $52.

Stitch Fix Soars Midday as Earnings Suit Investors
 

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