Stitch Fix cut its revenue outlook for the fiscal year, saying that it faces ongoing supply chain pressures and is in a transition period.
Stitch Fix reported a narrower-than-expected fiscal first-quarter loss and beat analysts' sales expectations.But the company cut its revenue outlook for the fiscal year, saying that it faces ongoing supply chain pressures and is in a transition period as it brings on new users.The Stitch Fix logo on a smartphone arranged in Hastings-on-Hudson, New York, U.S., on Saturday, June 5, 2021. Stitch Fix Inc. is scheduled to release earning on June 7.
Here's how Stitch Fix did in the three-month period ended Oct. 30 compared with what analysts were anticipating, based on survey data compiled by Refinitiv:Revenue: $581 million vs. $571 million expected Stitch Fix said active clients grew 11% to 4.18 million from a year ago. However, that was less than the 4.23 million active clients analysts projected, according to StreetAccount. The company defines active clients as people who either ordered a Fix subscription or bought an item directly from its website in the preceding 52 weeks from the final day of the quarter.
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