Stitch Fix Inc (NASDAQ:SFIX) shares were soaring after the online personal styling service reported fiscal third-quarter beats and a growing subscriber base.
The San Francisco-based company saw revenue grow 29% year over year to $408.9 million, comfortably topping expectations of $394.9 million. Earnings came in at $0.07 per share, compared to a projected $0.03 loss.
Investors were ready for some new threads, sending shares 16% higher to $27.38.
Clients for the company’s fashion subscription service reached 3.1 million, a 17% boost from the year ago quarter.
“Q3 was another strong quarter for us, delivering net revenue of $408.9 million, exceeding our guidance and representing 29% year-over-year growth,” CEO Katrina Lake said. “These results demonstrate our ability to attract new clients and to serve our existing clients well. The continued strength of our Women’s category and the growth of our Men’s category give us even more confidence in our ability to scale new categories and geographies. As I look forward, I’m excited about the opportunities ahead to delight even more clients around the world.”
Stitch Fix combines data science and human judgement to ship personalized apparel shoes, and accessories to its clients.
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