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Stitch Fix Stock Drops on Earnings Miss, Sales Guidance Cut

Stitch Fix Stock Drops on Earnings Miss, Sales Guidance Cut

Shares of Stitch Fix (NASDAQ: SFIX) fell by 1.4% in after-hours trading on Tuesday following the online personalized-apparel retailer's release of a weak quarterly report. The main catalysts driving this drop were quarterly revenue and earnings that missed Wall Street's consensus estimates, a decline in the company's number of active clients, and management's lowering of its sales guidance for the full fiscal year. In the fiscal quarter, which ended Oct. 29, net sales fell 22% year over year to $455.6 million, which undershot the $459.4 million Wall Street had expected.