Stitch Fix set to report earnings after Tuesday's close
Stitch Fix will report its fourth-quarter earnings on Tuesday afternoon, with analysts expecting a loss for Q4.
Video Transcript
- My stock to watch for Tuesday's online personal styling service Stitch Fix, set to report earnings tomorrow after the close. Analysts expecting the company to report an adjusted loss of $0.64 per share on revenue of $489.89 million. Looming over everything at Stitch Fix at the moment, a class-action lawsuit filed by shareholders over how transparent the company was or was not about changes to the platform.
On December 7, 2021, Stitch Fix admitted for the first time that the company had downplayed the magnitude of its transition from the subscription-based fixed model to the retail-based free-style model. It's really changed business there. Stitch Fix admits that the company saw some short-term cannibalization from the new customers who chose to use the direct buy freestyle option rather than traditional. Shares are down 74% year to date. We'll get those earnings tomorrow.
