Stitch Fix Stock Gets Pulled at the Seams Over Supply Chain Issues
Share prices of Stitch Fix (NASDAQ: SFIX) were down about 22% the day after the company delivered better-than-expected sales results for the fiscal first quarter of 2022. The stock fell after management delivered a soft outlook for the fiscal second quarter, which raises some questions about the company's execution.
For the next quarter, guidance calls for revenue to be flat to up 3% year over year, which is far from what investors expected, especially after Stitch Fix launched its Freestyle service last quarter that was expected to be a growth catalyst.
Image source: Stitch Fix.
Source Fool.com
