Stitch Fix stock plummets toward record lows after earnings show revenue miss

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Stitch Fix Inc. shares plummeted in the extended session Monday after the online fashion service’s revenue fell short of Wall Street expectations. Stitch Fix shares dropped 39% after hours to less than $14 a share. The stock has never traded lower than $14.48 in a regular trading session. Shares declined 6.9% in the regular session Monday to close at $21.21. The company reported fiscal second-quarter net income of $11.4 million, or 11 cents a share, compared with $12 million, or 12 cents a share, in the year-ago period. Revenue rose to $451.8 million from $370.3 million in the year-ago quarter, while net revenue per client rose 8% to $501. Analysts surveyed by FactSet had forecast earnings of 7 cents a share on revenue of $452.6 million and net revenue per client of $503.70.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.