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Investing.com – Stitch Fix plunged Tuesday in after-market hours as the online personal styling service company reported wider losses in the fiscal fourth quarter as higher costs weighed on the bottom line.
Stitch Fix (NASDAQ:SFIX) was down more than 14% in after-market hours.
The company reported a loss of 44 cents a share, missing consensus estimates of 15 cents, while revenue of $443 million topped estimates for $415 million.
Selling general and administrative expenses rose to $213 million from $189 million year-on-year.
Active clients rose 9% to 3.5 million on the prior-year period.
“I’m very pleased with our strong Q4 results and our return to topline growth. We grew active clients to 3.5 million, an increase of 9% year over year, and generated $443 million in net revenue, reflecting 11% adjusted year-over-year growth,” said Stitch Fix (NASDAQ:SFIX) founder and CEO Katrina Lake.
