(AP) Stitch Fix's first earnings report as a public company has disappointed Wall Street and its shares plunged in after-hours trading.
The online-based clothing styling service said Tuesday it expects to make less money from the boxes of clothes it sends customers, due to rising shipping costs and having fewer products available in distribution centers for newer categories, such as men's and plus size clothes.
San Francisco-based Stitch Fix Inc. reported earnings per share of 4 cents in the first quarter, missing analyst expectations by a penny, according to FactSet.
Revenue came to $295.6 million. Analysts expected $295 million.
Its shares sank nearly 11 percent after the stock market close, after having ended at $24.76 on Tuesday, up 65 percent from their initial public offering price last month of $15.
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