How Stitch Fix's Innovation Led to a Blowout Earnings Report
Stitch Fix (NASDAQ: SFIX) released a surprisingly good earnings report on June 7. In the days that followed, the stock price spiked 13.9% as investors took note of the acceleration in revenue growth, which jumped 44% year over year during the fiscal 2021 third quarter. Analysts had expected revenue to be $510 million, but Stitch Fix reported $535 million for the quarter.
It's been a wild couple of quarters for the online apparel retailer. After disappointing investors in the previous quarter, Stitch Fix seems to be clicking again. The most revealing part of the report was management's comments during the earnings call, discussing the impact of new shopping features that could keep the momentum going the rest of the year.
Image source: Stitch Fix.
Source Fool.com
