Stitch Fix Inc. Class A Common Stock (NASDAQ: SFIX)
26 Days left to seek lead plaintiff status.
On December 7, 2021, the Company disclosed the occurrence of “short term cannibalization” from new customers who chose to use its new direct-buy Freestyle option rather than the traditional Fix option, as well as a loss for its first quarter of 2021 and a cut to its full-year revenue projections. On this news, shares of Stitch Fix declined by $5.97 per share, or 24%, from $24.97 per share to $19.00 per share. Then, on March 8, 2022, the Company disclosed a weak outlook for the third quarter of 2022 and a cut to its revenue guidance for the full year, as well as “friction” that had occurred due to customers visiting stitchfix.com, the primary landing page for customers interested in the Fix, being redirected to the Freestyle experience first. On this news, shares of Stitch Fix declined by $0.67 per share, or 6%, from $11.01 per share to $10.34 per share.