Shares of Stitch Fix plunged more than 20 percent in after-hours trading on Monday following the release of a tepid fourth-quarter earnings report.
The online retailer and personal styling service’s adjusted earnings exceeded analyst expectations, but its revenue and active users fell short of estimates. In the quarter ending July 28, Stitch Fix reported a net income of $18.3 million, or 18 cents per share, up from analyst’s 4 cents per share estimate. Its reported net revenue of $318.3 million, a 23 percent year-over-year increase, failed to meet analyst expectations of $318.6 million.
The San Francisco-based company’s user base grew 25 percent YoY, to 2.7 million, another disappointment to Wall Street, which was looking for more than 2.8 million.
Stitch Fix, which has a market cap of nearly $4.4 billion, also reported fiscal year 2018 earnings. In its first year as a public company, Stitch Fix had $1.2 billion in net revenue, $44.9 million in net income and an adjusted EBITDA of $53.6 million.
Founder Katrina Lake took the company public on the Nasdaq in November 2017 in a highly anticipated consumer IPO. The company raised $120 million in the process, selling 8 million shares after making a last-minute decision to downsize its offering ahead of its first day of trading.
Following the release of its first-ever earnings report in December, shares of Stitch Fix similarly took a huge hit, plunging down 10 percent on the news.
The company usually finds its footing and, overall, its stock has continued to climb since its IPO. Stitch Fix had its best day yet on September 18 when its stock was valued at $52.44 apiece, up from the initial price of $15 apiece.
Alongside its earnings report, Stitch Fix announced the upcoming launch of Stitch Fix U.K., its first-ever international market expected to be available to consumers by the end of FY 2019. Following the release of its Q3 earnings report, the company announced the hire of Deirdre Findlay as its new chief marketing officer, as well as the launch of Stitch Fix Kids.
On the earnings call Monday, Lake emphasized how both services, Stitch Fix Kids and Stitch Fix U.K., will augment Stitch Fix’s total addressable market.
“We believe our ability to create a uniquely personalized shopping experience is something that will resonate with consumers and brands outside of the U.S.,” Lake said in a statement.
Hubble Snaps Stunning Pictures Of Colliding Galaxies
In its latest exploratory hunt covering the Arp-Madore territory, the Hubble telescope found something remarkable in the Arp-Madore 417-391 collision event. What is truly noteworthy is the intensity of the galactic interaction and the strong gravitational forces at play here. The pair of galaxies have contorted each other, a forming a ring-like structure, while their cores sit side by side. Personally, I think the cosmic duo looks more like a pair of wireless over-the-ear headphones like Sony’s acclaimed WH-1000 XM4 cans.
The formation of ring-like structures at a galactic scale, especially in the events of merger between two galaxies, is quite rare. According to estimates, there are only a few hundred documented in Earth’s cosmic neighborhood. A ring formation at such a massive scale is nothing short of a chance event, because the interacting galaxies have to collide at just the right angle and orientation to form such a structure (via LiveScience).
The ring’s outline is usually made up of young blue stars, serving somewhat like an elongated genesis chamber of stars. However, rings generated from galactic collisions are rather short-lived (on a cosmic time scale, that is), and usually lose their distinct structure a few hundred million years.
Today’s Wordle Answer #526 – November 27, 2022 Solution And Hints
The solution to today’s Wordle puzzle ( #526 – November 27, 2022) is “happy.” Its most popular meaning is to be glad or pleased, but the root word “hap” means chance or fortune, and that’s why the word “happy” is also used to mean lucky, fortunate or providential circumstances or unforeseen success (via Merriam-Webster).
We solved the puzzle in four tries today — the first two guesses, ounce and plait, were an attempt to eliminate all the vowels early on, which is our preferred Wordle-solving strategy. Those two whittled down the possible answers from 383 to just eight, and the third guess, debug, reduced that further to three. The word happy was our lucky fourth guess, and what made us even happier is that it took WordleBot the same number of tries to solve the puzzle. We hope you do it even faster, and if you’re looking for more puzzles to try your hand at, check out these other games like Wordle.
Orion Capsule Breaks Record Of Farthest Spacecraft Traveled From Earth
“It just so happened that with that really large orbit, high altitude above the moon, we were able to pass the Apollo 13 record,” Jim Geffre, Orion vehicle integration manager at NASA, said of the Orion’s record-breaking journey. On Monday, Nov. 28, Orion will reach a peak distance of 268,553 miles before the orbital manoeuvring system engine kicks in and propels it toward another close flyby with the Moon in the first week of December. Six days later, the vehicle is expected to return home.
According to NASA, the Orion is “built to take humans farther than they’ve ever gone before.” The Orion capsule has been co-engineered with Lockheed Martin, and it is touted to be the only vehicle capable of manned deep space mission and returning back to Earth at high speed from targets such as the Moon and beyond. With the Artemis project, NASA is actually aiming for the first crewed visit to the Mars, as well.
Capable of carrying four crew members, the capsule employs a total of 355,056 parts and can support missions lasting up to 21 days in its current state (via NASA). The capsule has systems for monitoring and maintaining aspects like humidity, carbon dioxide, oxygen, and radiation shielding, among other vital elements. Interestingly, the Orion’s base also features the world’s largest ablative heat shield that measures 16.5-feet in diameter and will protect the vehicle when it makes high-speed entry into Earth’s atmosphere.
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