Why Stitch Fix Stock Lost 19% in July
Online clothing retailer Stitch Fix (NASDAQ: SFIX) stock trailed the market last month by losing 19% compared to a 1% uptick in the S&P 500, according to S&P Global Market Intelligence. That decline didn't threaten broader returns, though, as shareholders remain up more than 30% so far in 2019 compared to a 14% increase in the S&P 500.
Image source: Getty Images.
July's drop occurred following a second-quarter earnings report that initially found approval on Wall Street that was quickly overwhelmed by bearishness. There were plenty of good signs for the business in that report, including rising revenue per customer and improved renewal rates. These wins suggest the company might continue gaining market share in its core niche while expanding into new categories like men's and kids' clothing.
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