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Sew Repair inventory shoots up 17% on spike in gross sales, narrowing loss 

Shares of Sew Repair Inc.

have been initially up 17% in prolonged buying and selling Monday after the net private styling service reported fiscal third-quarter outcomes. Sew Repair reported a web lack of $18.8 million, or 18 cents a share, in contrast with a web lack of $33.9 million, or 33 cents a share, within the year-ago quarter. Income leaped 44% to $535.6 million from $371.7 million a yr in the past. The corporate additionally forecast greater than $2 billion in gross sales for its fiscal yr. Analysts surveyed by FactSet had anticipated a lack of 27 cents a share on income of $511 million. Sew Repair shares are down 1% to date in 2021. The broader S&P 500 index

has gained 12.5% this yr.

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