Stitch Fix CEO Katrina Lake: "Customers' Embrace of Our Offering Is Here to Stay"

Stitch Fix (NASDAQ: SFIX) shares tumbled after the company announced its fiscal 2021 second quarter earnings results. While both sales and profits were just slightly lower than expected, the bigger problem was the downgrade to management's short-term outlook, just three months after the company issued a bullish full-year 2021 forecast. The quick change in tone spooked investors who had pegged Stitch Fix as an accelerating growth story.

In the earnings call, CEO Katrina Lake and her team said they remained confident in the company's long-term outlook, but a few surprise developments combined to knock Stitch Fix off the trajectory they had envisioned in early Dec. 2020.

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Source Fool.com