Katrina Lake, founder and CEO of Stitch Fix Inc.
Patrick T. Fallon | Bloomberg | Getty Images
Stitch Fix stocks rose Monday after the company posted surprising earnings and sales growth of 10% year over year.
The share rose more than 32% after close of trading.
For the first quarter ended October 31, Stitch Fix reported earnings of 9 cents per share on sales of $ 490.4 million, beating estimates of 20 cents per share loss on sales of 481.2 million . USD according to information from Refinitiv.
The online personal styling service expects sales growth of between 20% and 25% for the 2021 financial year.
Along with the earnings report, it announced the appointment of Dan Jedda, formerly VP and CFO for digital video at Amazon, as CFO effective Wednesday.
At the close of trading on Monday, Stitch Fix shares were up nearly 40% year-to-date, for a market cap of $ 3.7 billion.
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