×
51 775
Fashion Jobs
ABERCROMBIE AND FITCH CO.
Asset Protection Investigator
Permanent · Concord
OLD NAVY
Asset Protection Lead - Outlts @ Little Rock
Permanent · Little Rock
OLD NAVY
Assistant General Manager, Merchandising - Northcross
Permanent · Huntersville
OLD NAVY
External Asset Protection Lead - Franklin Park
Permanent · Toledo
OLD NAVY
General Manager - Four Flaggs
Permanent · Niles
OLD NAVY
Assistant General Manager, Merchandising - Crossings of Decatur
Permanent · Decatur
OLD NAVY
Assistant General Manager - Festival Mkt@Dogwood
Permanent · Flowood
OLD NAVY
General Manager - Barrow Crossing
Permanent · Bethlehem
OLD NAVY
Asset Protection Service Representative -Sports Arena Plaza
Permanent · San Diego
OLD NAVY
Buyer, Girl's, Outlet
Permanent · San Francisco
OLD NAVY
Asset Protection Agent - Fulton Street
Permanent · New York
OLD NAVY
General Manager - Franklin Park
Permanent · Spokane
OLD NAVY
Assistant General Manager, Merchandising - Brickyard Square (New Store)
Permanent · Epping
OLD NAVY
Assistant General Manager - Eagan Promenade
Permanent · Eagan
OLD NAVY
General Manager - Conyers Crossroads
Permanent · Conyers
OLD NAVY
Asset Protection Manager - Utah
Permanent · Salt Lake City
OLD NAVY
Assistant General Manager, Merchandising - Bradford Plaza
Permanent · Stillwater
OLD NAVY
General Manager - San Diego
Permanent · San Diego
OLD NAVY
Assistant General Manager, Merchandising - Midtown Village
Permanent · Tuscaloosa
OLD NAVY
Vice President - Technical Design, Fabric R&D & Quality
Permanent · San Francisco
OLD NAVY
Program Manager, Digital Production
Permanent · San Francisco
OLD NAVY
Asset Protection Agent - Keizer Station
Permanent · Keizer
By
Reuters
Published
Oct 3, 2018
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Stitch Fix loses third of value after mixed quarterly report

By
Reuters
Published
Oct 3, 2018

Shares of Stitch Fix tumbled 34 percent on Tuesday and were heading for their worst session since their Wall Street debut after the personal online clothing service showed mixed quarterly results.

Stitch Fix


With a market capitalization of just $3 billion, the San Francisco company was the fourth most traded stock on the Nasdaq.

Stitch Fix late on Monday reported a 23-percent jump in quarterly revenue to $318 million, but that was not enough to satisfy investors who have watched its shares as much as triple since their initial public offer last November.

Stitch Fix, which mails customers apparel based on their preferences, grew its active clients by 25 percent to 2.7 million in the fiscal fourth quarter, which ended in July, and it announced plans to expand into the United Kingdom.

For fiscal 2019, Stitch Fix said it expects net revenue between $1.47 and $1.53 billion, more than analysts expected, and adjusted EBITDA between $20 million and $40 million, the midpoint of which is below the average analyst estimate of $38 million, according to Refinitiv data.

Based on the high end of Stitch Fit’s 2019 outlook, its stock is now trading at a relatively expensive 1.9 times expected revenue.

That compares to a price/sales ratio of 0.7 for apparel retailer Gap Inc and 0.4 for meal delivery service Blue Apron Holdings Inc, which has struggled to meet high expectations since debuting on Wall Street in June 2017.

Amazon.com recently traded at 3.6 times expected revenue, according to Refinitiv data.

Stitch Fix reported quarterly diluted net income of $18.2 million, or 18 cents a share.

Following its report late on Monday, at least two analysts reduced their price targets for Stitch Fix’s stock, while four raised their targets.

Analysts, on average, now expect the shares to reach $37.22, compared to Tuesday’s level below $30.

© Thomson Reuters 2021 All rights reserved.