Stitch Fix (NASDAQ:SFIX) saw a more than 9% increase in its stock intra-day today despite disappointing Q4 results and guidance.
The company reported a loss per share of 24 cents, worse than the anticipated loss of 21 cents. In terms of revenue, Stitch Fix generated $375.8 million for the quarter, slightly above the Street estimate of $371.2 million.
CEO Matt Baer expressed a commitment to achieving the company’s full potential and driving long-term, profitable growth despite the current business results.
Looking ahead, Stitch Fix forecasts Q1/24 revenue to range between $355 million and $365 million, lower than the Street estimate of $402 million. For the full fiscal year 2024, the company projects revenue between $1.3 billion and $1.37 billion, falling short of the Street estimate of $1.63 billion.