Stitch Fix, Inc. - SFIX STOCK NEWS

Stitch Fix, Inc. (NASDAQ:SFIX) reported $517 million in net revenue for Q2 FY22, marking a 3% increase year-over-year. Active clients rose by 4% to 4.02 million, with revenue per active client reaching a record $549, driven by higher average order values. However, the company faced challenges with client onboarding and conversion. Looking ahead, Q3 FY22 revenue is projected to decline between 7% and 10%, with an adjusted EBITDA loss expected between $(30) million and $(25) million. The full year outlook anticipates flat to slightly down revenue as active client numbers stabilize.

Stitch Fix, Inc. (NASDAQ:SFIX) has announced that its CEO, Elizabeth Spaulding, will participate in a fireside chat at the Morgan Stanley Technology, Media & Telecom Conference on March 10, 2022, at 1:15 p.m. PT/4:15 p.m. ET. The event will be streamed live, with a replay available on their investor relations website. Since its inception in 2011, Stitch Fix has offered personalized shopping experiences, blending stylist expertise with data science to serve millions of customers in finding their ideal styles.

On February 18, 2022, Stitch Fix (NASDAQ:SFIX) announced the grant of 125,076 restricted stock units to Devin Grdinic, Vice President of Total Rewards & People Operations. These units will vest over four years, with the first tranche vesting on March 16, 2022. This grant is part of the 2019 Inducement Plan, approved under Nasdaq rules for equity grants to attract new employees. Stitch Fix continues to leverage a blend of expert stylists and data science to enhance its personalized shopping services, solidifying its position in the ecommerce landscape.

Stitch Fix, Inc. (NASDAQ:SFIX) will announce its financial results for Q2 FY 2022 on March 8, 2022, after market close. The company will discuss the results during a conference call at 2:00 p.m. PT. The announcement follows a trend of personalized shopping experiences leveraging data science and expert stylists. Interested parties can access the live webcast on the Stitch Fix investor relations website, and a telephonic replay will be available until March 15, 2022. This event reflects Stitch Fix's ongoing commitment to transparency with investors.

Stitch Fix, Inc. (NASDAQ: SFIX) announced Sachin Dhawan as the new Chief Technology Officer effective January 24, 2022. Dhawan previously served as Senior VP of Infrastructure & Operations at Visa and has extensive experience with PayPal and Microsoft. CEO Elizabeth Spaulding expressed excitement about Dhawan's technical expertise, particularly in data science and personalization, as crucial for the company’s future innovation and growth. Stitch Fix aims to enhance its personalized shopping experience by leveraging advanced technology and data science with Dhawan at the helm.

On January 21, 2022, Stitch Fix (NASDAQ:SFIX) announced the grant of restricted stock units to Charles Allen, the Vice President of Product, totaling 119,233 shares. These units will vest over four years, beginning with a portion vesting on March 16, 2022. This grant is in accordance with the Stitch Fix 2019 Inducement Plan, approved by the board in October 2019. This strategy aims to incentivize key talent while aligning their interests with the company’s success.

Stitch Fix has partnered with tennis champion Venus Williams to launch the "Goodbye Gymtimidation" campaign aimed at helping women overcome anxiety related to working out in public. A survey reveals that 67% of women feel heightened gymtimidation when returning to fitness routines after significant life changes. The campaign provides tips from Williams, data linking confidence-boosting activewear to fitness success, and personalized shopping experiences. Stitch Fix aims to enhance women's confidence with a size-inclusive range of activewear from nearly 30 brands.

Stitch Fix announced on January 6, 2022, the granting of restricted stock units to Sarah Barkema for 60,693 shares of Class A common stock. The vesting of these units is scheduled over four years, initiating with a quarter on March 16, 2022. This grant aligns with the Stitch Fix, Inc. 2019 Inducement Plan, approved by the board under Nasdaq rules, aimed at attracting new talent to the company.

Stitch Fix announced a share repurchase program, allowing the company to buy back up to $150 million of its Class A common stock. Elizabeth Spaulding, CEO, expressed confidence in the company's growth potential, stating that the current market valuation does not reflect its value. The program will be funded from existing cash reserves, with $400.5 million available as of October 30, 2021. The repurchase will occur at management's discretion based on various market conditions and will have no expiration date.