Stitch Fix Soars After Quarterly Sales Forecast Tops Estimates

Stitch Fix Inc. shares jumped in postmarket trading after the company that recommends and sells clothes online projected fiscal fourth-quarter revenue that topped average analyst expectations.

Stitch Fix expects net revenue of $540 millon to $550 million, it said in a statement. That compares with analyst estimates of $534.8 million, according to data compiled by Bloomberg. The San Francisco-based company’s fiscal third quarter net revenue of $535.6 million and loss per share of 18 cents were also better than Wall Street was anticipating.

Stitch Fix Soars After Quarterly Sales Forecast Tops Estimates

The stock jumped more than 15% in postmarket trading. Stitch Fix shares had fallen about 1% since the start of the year based on Thursday’s closing price.

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