Stitch Fix Inc. shares dropped in the extended session Monday after the company missed earnings expectations. Stitch Fix shares dropped nearly 4% in the extended session after rising almost 7% during regular trading. The company reported fiscal second-quarter net income of $3.6 million, or 2 cents a share, compared with net income of $233,000, in the year-ago period. Revenue increased to $295.9 million from $237.8 million in the year-ago period. Analysts surveyed by FactSet had estimated 6 cents a share on revenue of $291 million. Stitch Fix said it is expecting fiscal third-quarter sales of $300 million to $310 million and full year revenue of $1.19 billion to $1.22 billion. For the fiscal third quarter, analysts model earnings of 5 cents a share on sales of $301 million; Wall Street expects full year sales of $1.2 billion. Since the company’s trading debut in November, Stitch Fix stock has gained 63%, as the S&P 500 index rose 8%.
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