Stitch Fix Soars 25%+ After Hours Despite Quarterly Revenue Decline
$Stitch Fix (SFIX.US)$ soared 25%+ after hours Tuesday even though the online clothing retailer reported that its net revenues fell year over year.
SFIX gained 25.8% to $3.36 shortly before 5 p.m. ET despite reporting that net revenues fell 16% year over year to $322.7 million during its fiscal Q3 ended April 27.
The company also said its net loss from continuing operations hit $22 million, equating to a $0.18 loss per share on continuing business.
Despite Tuesday evening's rally, StitchFix remains far below where it stood during the market's 2021 boom.
Shares have lost some 97% from the $113.759 that they peaked at intraday in January 2021.
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Former top editor at Seeking Alpha, Fidelity.com, TheStreet.com and UPI.
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