Can Stitch Fix Become the Global Destination for Personalized Shopping?
Shares of Stitch Fix (NASDAQ: SFIX) were off to the races following a solid fourth-quarter earnings report. With revenue up 29% year over year and active clients up 18%, the business has started to reestablish its pre-pandemic growth trend.
Coming off two strong consecutive quarters, Stitch Fix announced it was rebranding its Direct Buy service to Stitch Fix Freestyle, which allows all clients to buy specific items from the company without ordering a Fix. Management sees this service as a game-changer for its long-term growth. "Our vision is to become the global destination for personalized shopping, styling, and inspiration, supporting clients across all categories and occasions," CEO Elizabeth Spaulding said during the fiscal Q4 earnings call.
It's a bold long-term goal, but Stitch Fix already possesses the tools to execute on it, and it's starting to expand its assortment to new categories to open up its sales potential to a wider customer base.
Source Fool.com
