The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
Stitch Fix shares jumped in postmarket trading after the company that recommends and sells clothes online projected fiscal fourth-quarter revenue that topped average analyst expectations.
Stitch Fix expects net revenue of $540 millon to $550 million, it said in a statement. That compares with analyst estimates of $534.8 million, according to data compiled by Bloomberg. The San Francisco-based company’s fiscal third quarter net revenue of $535.6 million and loss per share of 18 cents were also better than Wall Street was anticipating.
The stock jumped more than 15% in postmarket trading. Stitch Fix shares had fallen about 1 percent since the start of the year based on Thursday’s closing price.
By: Jeran Wittenstein
As the German sportswear giant taps surging demand for its Samba and Gazelle sneakers, it’s also taking steps to spread its bets ahead of peak interest.
A profitable, multi-trillion dollar fashion industry populated with brands that generate minimal economic and environmental waste is within our reach, argues Lawrence Lenihan.
RFID technology has made self-checkout far more efficient than traditional scanning kiosks at retailers like Zara and Uniqlo, but the industry at large hesitates to fully embrace the innovation over concerns of theft and customer engagement.
The company has continued to struggle with growing “at scale” and issued a warning in February that revenue may not start increasing again until the fourth quarter.