Stitch Fix stock shoots up 17% on spike in sales, narrowing loss

Shares of Stitch Fix Inc. were initially up 17% in extended trading Monday after the online personal styling service reported fiscal third-quarter results. Stitch Fix reported a net loss of $18.8 million, or 18 cents a share, compared with a net loss of $33.9 million, or 33 cents a share, in the year-ago quarter. Revenue leaped 44% to $535.6 million from $371.7 million a year ago. The company also forecast more than $2 billion in sales for its fiscal year. Analysts surveyed by FactSet had expected a loss of 27 cents a share on revenue of $511 million. Stitch Fix shares are down 1% so far in 2021. The broader S&P 500 index has gained 12.5% this year.

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