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Stitch Fix shares sink 23% as focus shifts from new clients to selling more to existing ones
Stitch Fix Inc. reported fiscal first-quarter earnings that beat expectations, but a change in strategy that includes slowing growth in new users has sent shares plummeting 23.6% in Tuesday trading.
Earnings of 10 cents per share and sales of $366.2 million beat the FactSet expectation for 3 cents per share and $358 million in sales.
The personal styling service also reported 22% year-over-year customer growth, reaching 2.9 million active clients.
For the second quarter, Stitch Fix SFIX, -21.95% expects “slower” active client growth, advertising spending to be lower, and a flat active client count. An active client is defined as someone “who checked out a Fix in the preceding 12-month period,” the company said.
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https://www.marketwatch.com/story/stitch...2018-12-11
![[Bild: SFIXc1dl1555.png]](https://finviz.com/publish/121118/SFIXc1dl1555.png)
Stitch Fix Inc. reported fiscal first-quarter earnings that beat expectations, but a change in strategy that includes slowing growth in new users has sent shares plummeting 23.6% in Tuesday trading.
Earnings of 10 cents per share and sales of $366.2 million beat the FactSet expectation for 3 cents per share and $358 million in sales.
The personal styling service also reported 22% year-over-year customer growth, reaching 2.9 million active clients.
For the second quarter, Stitch Fix SFIX, -21.95% expects “slower” active client growth, advertising spending to be lower, and a flat active client count. An active client is defined as someone “who checked out a Fix in the preceding 12-month period,” the company said.
...
https://www.marketwatch.com/story/stitch...2018-12-11
