Consensus $1.31B. Raises FY24 adjusted EBITDA view to $25M-$30M from $10M-$20M. The company said, “In the fourth quarter of fiscal 2024, we reviewed our right-of-use lease asset associated with our San Francisco headquarters for impairment due to our intended change in use of the space. Based on the preliminary analysis completed to date, we expect to record a non-cash impairment charge in the range of $15 million to $20 million during the three months ending August 3, 2024 to reduce the carrying value of the operating lease right-of-use asset to its estimated fair market value.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SFIX:
- Options Volatility and Implied Earnings Moves Today, June 04, 2024
- Options Volatility and Implied Earnings Moves This Week, June 03 – June 06, 2024
- SFIX Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Stitch Fix Announces Date for Third Quarter 2024 Financial Results and Conference Call
- Stitch Fix Announces New Employee Inducement Grant