The Pandemic Isn’t Stitch Fix’s Only Problem

Stitch Fix this week reported that fourth-quarter net revenue rose 11% year over year to $443.4 million, on an adjusted basis (accounting for an extra selling week last year). Its active client base expanded by 9%. But the company swung to a $44.5 million net loss as the pandemic dampened demand for apparel, according to a company press release. The company launched its Trending For You program in June, which helped push up its direct buy orders, or items bought without a subscription “Fix,” over 30%, Stitch Fix President Elizabeth Spaulding told analysts, according to a Motley Fool transcript. Read more at Retail Dive.