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Sew Repair, Inc. (NASDAQ: SFIX) has reported a wider internet loss for the second quarter of 2022 when the non-public styling providers firm’s revenues declined amid faltering demand.
Third-quarter complete loss widened to $81.7 million or $0.72 per share from $18.8 million or $0.18 per share in the identical interval of 2021.
The underside line was negatively impacted by an 8% lower in revenues to $492.9 million. The corporate had round 3,907,000 lively customers on the finish of the quarter, which is down 5% from the year-ago interval.
Learn administration/analysts’ feedback on quarterly reviews
“We strongly imagine in our technique of increasing our established Repair mannequin by the addition of on-demand styling and buying by way of Freestyle. Collectively, this highly effective mixture addresses the complete continuum of personalised buying wants. Our staff is dedicated to executing our technique with excellence whereas thoughtfully and intentionally making the required selections and improvements to drive our enterprise ahead,” mentioned Sew Repair’s CEO Elizabeth Spaulding.
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