Retail News

Stitch Fix’s shares hit by forecast cut

Bloomberg/Yahoo Finance 03/10/2020

Shares in Stitch Fix fell almost 40 percent in extended trading yesterday after the personal shopping service lowered its sales and earnings forecast for the current fiscal year. Stitch Fix is now expected to post revenues between $1.8 billion and $1.84 billion, down from a range between $1.9 billion and $1.93 billion. It also expects adjusted earnings to fall somewhere between zero and $10 million. Stitch Fix previously forecast adjusted earnings between $18 million and $32 million.

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