By Kimberly Chin
Stitch Fix Inc. swung to a profit in the fourth quarter on sales that rose nearly 30% as active clients grew due to continued online shopping trends.
The San Francisco-based company, which selects and ships monthly boxes of clothes to subscribers, recorded a profit attributable to shareholders of $28 million, compared with a loss of $44.5 million in the year-earlier quarter. Stitch Fix had earnings of 19 cents a share, compared with a loss of 44 cents a share a year ago. Analysts polled by FactSet expected a loss of 12 cents a share.
Net revenue was $571.2 million, up from $443.4 million a year ago. Analysts were looking for $547.8 million in revenue.
Stitch Fix has nearly 4.2 million active clients, an 18% increase from the year earlier and in line with analysts' expectations.
Stitch Fix shares climbed 10.8% to $39.30 in after-hours trading.
Write to Kimberly Chin at kimberly.chin@wsj.com