On Monday, Stitch Fix Inc (NASDAQ:SFIX) reported its fourth quarter results. The fashion subscription service succeeded to narrow its losses but it is still struggling with declining revenue that marked its fiscal year. As the holiday season approaches, consumers are navigating through a tough environment shaped by rising prices and other headwinds that are emptying their wallets.
Fiscal Fourth Quarter Results
For the quarter that ended on July 31st, the online styling service reported a 22% YoY revenue drop to $375.8 million and made a net loss of $28.7 million, which is a 70% improvement from last year’s comparable quarter when it lost $96.3 million. The diluted loss per share amounted to $0.24.
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