Stitch Fix, Inc. (NASDAQ: SFIX) has reported a wider net loss for the third quarter of 2022 when the personal styling services company’s revenues declined amid faltering demand.
Third-quarter comprehensive loss widened to $81.7 million or $0.72 per share from $18.8 million or $0.18 per share in the same period of 2021.
The bottom line was negatively impacted by an 8% decrease in revenues to $492.9 million. The company had around 3,907,000 active users at the end of the quarter, which is down 5% from the year-ago period.
“We strongly believe in our strategy of expanding our established Fix model through the addition of on-demand styling and shopping via Freestyle. Together, this powerful combination addresses the full continuum of personalized shopping needs. Our team is committed to executing our strategy with excellence while thoughtfully and deliberately making the necessary decisions and innovations to drive our business forward,” said Stitch Fix’s CEO Elizabeth Spaulding.
Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!
Shares of Dollar Tree Inc. (NASDAQ: DLTR) were down over 1% on Wednesday, a day after the company reported earnings results for the third quarter of 2022. Revenue and earnings
Target Corporation (TGT): A look at how the retail giant is shaping up against an inflationary backdrop
Shares of Target Corporation (NYSE: TGT) were up over 1% on Wednesday. The stock has dropped 30% year-to-date and 35% over the past 12 months. Last week the company reported
Zoom Video Communications (NASDAQ: ZM) expanded its customer base at an accelerated pace during the COVID crisis and soon became the preferred video conferencing platform for businesses and millions of