Stitch Fix, Inc. (NASDAQ: SFIX) on Monday reported a profit for the first quarter of 2021, even as revenues increased. The results also surpassed the market’s forecast.
The San Francisco, California-based personal styling company had around 3.8 million active clients at the end of the quarter, up 10% year-over-year. It reported net income of $9.5 million or $0.09 per share for the October-quarter, marking an improvement from last year’s break-even results. Analysts had forecast a loss for the latest quarter.
Revenues moved up to $490.4 million in the first quarter from $444.8 million in the corresponding period of last year. The top-line also beat the Street view.
Read management/analysts’ comments on Stitch Fix’s Q1 earnings
Last month, Stitch Fix shares climbed to a two-year high. The stock closed Monday’s regular session higher.