{"id":80282,"date":"2023-11-03T12:30:17","date_gmt":"2023-11-03T16:30:17","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/figs-shares-rise-9-3-after-boost-to-sales-guidance\/"},"modified":"2023-11-03T12:30:20","modified_gmt":"2023-11-03T16:30:20","slug":"figs-shares-rise-9-3-after-boost-to-sales-guidance","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=80282","title":{"rendered":"Figs Shares Rise 9.3% After Boost to Sales Guidance"},"content":{"rendered":"
\n

By Paul Ziobro<\/p>\n

Shares of Figs rose in late trading after the medical scrubs company boosted its sales growth outlook for the year.<\/p>\n

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.<\/p>\n

\n

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%.<\/p>\n

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.<\/p>\n

Sales rose 10.7% to $142.4 million, on more orders from new and existing customers. Analysts’ expected $131.4 million.<\/p>\n

Chief Executive Trina Spear said the company’s revenue and adjusted earnings before interest, tax, depreciation and amortization exceeded internal expectations.<\/p>\n

Figs also said it added former Chewy Chief Financial Officer Mario Marte to its board, effective Nov. 3.<\/p>\n

Write to Paul Ziobro at paul.ziobro@wsj.com<\/p>\n

<\/pre>\n<\/p><\/div>\n<\/div>\n
Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"
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