Why Stitch Fix Stock Crashed Today

Shares of Stitch Fix (NASDAQ: SFIX) were plummeting today after the personalized online styling service slashed its full-year guidance in its second-quarter report. Management cited issues both within the company like a heavy promotional environment in retail and a decision to scale back on marketing in the second half of the fiscal year, as well as macro issues like Brexit and the coronavirus.

As a result, the stock was down 29.6% as of 10:32 a.m. EDT.

Image source: Stitch Fix.

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Source Fool.com