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Investigation Details
Stitch Fix issued a press release on September 24, 2024, “announc[ing] its financial results for the fourth quarter and full fiscal year 2024, ended August 3, 2024.” Among other items, Stitch Fix disclosed that with fewer active clients in both the fourth quarter and full year, the Company experienced a 12.4% drop in sales in the quarter, resulting in a wider-than-expected loss. Anticipating declining sales in the first quarter and full year 2025, Stich Fix provided guidance for both the quarter and year that fell short of analyst expectations.
Following this news, Stitch Fix’s stock price fell over 39% on September 25, 2024.
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