RTTNews | Dec 8, 2020 10:05AM EST

10:05 Tuesday, December 8, 2020 (RTTNews.com) - Shares of Stitch Fix, Inc. (SFIX) jumped over 45% on Tuesday morning after the company posted a surprise profit and named new CFO.

SFIX is currently trading at $52.63, up $16.80 or 46.89%, on the Nasdaq.

The online personal styling service announced that Dan Jedda has joined the company as CFO, effective December 9. Jedda joins the company from Amazon where he was Vice President and CFO for Digital Video, Digital Music, and the Advertising and Corporate Development organizations.

For the first quarter, Stitch Fix reported profit of $8.54 million or $0.09 per share, compared to a loss of $178 thousand or breakeven per share last year. Net revenues increased 10% to $490.4 million.

Analysts expected the company to lose $0.20 per share on revenues of $481.2 million.

Read the original article on RTTNews ( https://www.rttnews.com/3151893/stock-alert-stitch-fix-jumps-45-on-quarterly-results-cfo-appointment.aspx)

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