Q3 Earnings Roundup: Figs (NYSE:FIGS) And The Rest Of The Apparel and Accessories Segment

As the Q3 earnings season wraps, let’s dig into this quarter’s best and worst performers in the apparel and accessories industry, including Figs (NYSE:FIGS) and its peers.

Thanks to social media and the internet, not only are styles changing more frequently today than in decades past but also consumers are shifting the way they buy their goods, favoring omnichannel and e-commerce experiences. Some apparel and accessories companies have made concerted efforts to adapt while those who are slower to move may fall behind.

The 17 apparel and accessories stocks we track reported a mixed Q3. As a group, revenues along with next quarter’s revenue guidance were in line with analysts’ consensus estimates.

Luckily, apparel and accessories stocks have performed well with share prices up 13.3% on average since the latest earnings results.

Weakest Q3: Figs (NYSE:FIGS)

Figs reported revenues of $140.2 million, down 1.5% year on year. This print fell short of analysts’ expectations by 2.1%. Overall, it was a disappointing quarter for the company with a significant miss of analysts’ adjusted operating income and EBITDA estimates.

“The third quarter included several key investments to support and scale FIGS, highlighted by our incredible Olympics campaign with the Team USA Medical (TASE:PMCN) Team and the completed transition of our fulfillment center to a state-of-the-art, highly-automated facility,” said Trina Spear, Chief Executive Officer and Co-Founder.

Unsurprisingly, the stock is down 12.1% since reporting and currently trades at $5.86.

Is now the time to buy Figs? Find out by reading the original article on StockStory, it’s free.

Best Q3: VF Corp (NYSE:NYSE:VFC)

VF Corp reported revenues of $2.76 billion, down 5.6% year on year, outperforming analysts’ expectations by 1.6%. The business had a very strong quarter with a solid beat of analysts’ EPS and EBITDA estimates.

The market seems happy with the results as the stock is up 21.8% since reporting. It currently trades at $20.74.

Levi's (NYSE:LEVI)

Levi's reported revenues of $1.52 billion, flat year on year, falling short of analysts’ expectations by 2.4%. It was a mixed quarter as it posted an impressive beat of analysts’ EBITDA estimates but a miss of analysts’ constant currency revenue estimates.

As expected, the stock is down 17.4% since the results and currently trades at $17.40.

Carter's (NYSE:CRI)

Carter's reported revenues of $758.5 million, down 4.2% year on year. This print was in line with analysts’ expectations. Zooming out, it was a mixed quarter as it also recorded a solid beat of analysts’ same-store sales estimates but EPS guidance for next quarter missing analysts’ expectations significantly.

The stock is down 15.3% since reporting and currently trades at $55.62.

Stitch Fix (NASDAQ:SFIX)

Stitch Fix reported revenues of $318.8 million, down 12.6% year on year. This number surpassed analysts’ expectations by 3.9%. Overall, it was an exceptional quarter as it also logged EBITDA guidance for next quarter exceeding analysts’ expectations and an impressive beat of analysts’ EPS estimates.

Stitch Fix pulled off the biggest analyst estimates beat and highest full-year guidance raise, but had the slowest revenue growth among its peers. The stock is down 7.4% since reporting and currently trades at $4.26.

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This content was originally published on Stock Story