Figs Shares Rise 9.3% After Boost to Sales Guidance
03 November 2023 - 8:50AM
Dow Jones News
By Paul Ziobro
Shares of Figs rose in late trading after the medical scrubs
company boosted its sales growth outlook for the year.
The stock was up 9.3% to $6.14 in after-hours trading on
Thursday, following a gain of 6.2% in the regular trading session.
Through Thursday's close the stock was down 17% this year.
Figs now expects sales to rise 8.5% this year, compared to a
prior forecast for sales to grow between 5.5% to 7.5%.
The raised view comes after the company reported a profit of
$6.1 million, or 3 cents a share, for the quarter-ended Sept. 30,
compared with $4 million, or 2 cents, in the year-ago period.
Analysts polled by FactSet expected 2 cents a share.
Sales rose 10.7% to $142.4 million, on more orders from new and
existing customers. Analysts' expected $131.4 million.
Chief Executive Trina Spear said the company's revenue and
adjusted earnings before interest, tax, depreciation and
amortization exceeded internal expectations.
Figs also said it added former Chewy Chief Financial Officer
Mario Marte to its board, effective Nov. 3.
Write to Paul Ziobro at paul.ziobro@wsj.com
(END) Dow Jones Newswires
November 02, 2023 17:35 ET (21:35 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
3M (NYSE:MMM)
Historical Stock Chart
From Apr 2024 to May 2024
3M (NYSE:MMM)
Historical Stock Chart
From May 2023 to May 2024