Why Stitch Fix Stock Jumped 16% This Week
Stitch Fix (NASDAQ: SFIX) shareholders trounced a rising market in recent days, with shares jumping 16% from last Friday through Thursday's trading, compared to a 0.4% increase in the S&P 500. The rally was powered by a surprisingly strong quarterly earnings report by the online apparel specialist.
Stitch Fix on Tuesday announced sales and profit results for the quarter that ended in late July. The headline metrics both beat management's prior forecast, allowing the company to easily surpass its wider fiscal year targets. Revenue for the full year rose 23% thanks to the combination of a growing user base and increased average spending.
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Source Fool.com
