Stitch Fix Stock Jumped 160% in 2020 -- And It's Just Getting Started
Stitch Fix (NASDAQ: SFIX) entered 2020 having grown revenue by just 8.5% in 2019. But a combination of improvements to its recommendation engine and a wider selection of items helped boost revenue growth back to double-digit rates in the fiscal first quarter ending in October.
What's more, management sees revenue growth continuing to accelerate over the next year. The latest earnings results caused the stock to rocket higher, but this is just the start of Stitch Fix's mission to capture more share of the apparel industry.
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Source Fool.com
