Stitch Fix plunges after downbeat revenue forecast
SFIX•Stitch Fix forecast first-quarter revenue of $323 million to $328 million, below analysts’ estimate of $343.2 million. Fourth-quarter revenue of $324.4 million also missed estimates as active clients declined.
1. Revenue forecast falls short
Stitch Fix shares fell 19% in premarket trading after the company forecast first-quarter revenue of $323 million to $328 million, below analysts’ estimate of $343.2 million. The company reported fourth-quarter revenue of $324.4 million, also below estimates of $325.6 million, as active clients declined.
