Stitch Fix (NASDAQ: SFIX) was up in pre-market trading at the time of publishing on Wednesday after the online personal styling service company’s losses narrowed in fiscal Q3 to a loss of $0.19 per share as compared to a loss of $0.72 per share in the same period last year while analysts were expecting a Q3 loss of $0.31 per share.
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Stitch Fix’s revenues, however, declined by 20% year-over-year in Q3 to $394.9 million but still surpassed consensus estimates of $388.75 million. The company’s active client base fell by 11% year-over-year to 3.45 million at the end of Q3.
Looking forward, the management expects the company to post fourth-quarter revenues in the range of $365 million to $375 million, a drop in the range of 22% to 24% while on an adjusted EBITDA basis in Q4, it expects to break even or the metric is likely to be $10 million.
Overall, analysts are sidelined about SFIX stock with a Hold consensus rating based on 11 Holds and one Sell.
