News Formal

Stitch Fix CEO talks up future for online fashion company as shares soar on strong quarterly results

  • 📰 CNBC
  • ⏱ Reading Time:
  • 36 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 72%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

Shares of Stitch Fix were up more than 8% Tuesday after the clothing styling service's quarterly results beat analyst expectations.

is finding success in an evolving retail landscape because its business embodies the new consumer preference, CEO Katrina Lake told CNBC on Tuesday.

Stitch Fix's active clients matched analyst estimates at 3.4 million, a 17% increase from a year earlier. That means clients are "buying more things, staying longer, having more successful experiences, and that is all great," she said. But in October, Stitch Fox began rolling out a new service called Shop Your Look, which shows subscribers around 30 to 40 items, utilizing data from their previous purchases, and gives them a chance to buy products individually.So far, Shop Your Looks is available to only 30% of Stitch Fix's women's clients, Lake said, "so we have a lot of work to do to optimize the feature" and make it available to its millions of subscribers.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in ZA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Wow what a terrible interview. I think she was just too nervous.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks making the biggest moves premarket: AutoZone, HD Supply, Stitch Fix, Chewy & moreThese are the stocks posting the largest moves before the bell, including AutoZone, HD Supply, Stitch Fix, Chewy, and more. 5025 4526
Source: CNBC - 🏆 12. / 72 Read more »

Stocks making the biggest moves after hours: Stitch Fix, Agilent, Toll Brothers and moreStocks making the biggest moves after hours: Stitch Fix, Agilent, Toll Brothers & more
Source: CNBC - 🏆 12. / 72 Read more »

Stocks making the biggest moves midday: AutoZone, Stitch Fix, PG&E & moreCheck out the companies making headlines midday Tuesday. You would think people would be happy about 401K &IRa's moving up, I sure am.
Source: CNBC - 🏆 12. / 72 Read more »