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There s no question about it. This was a rough earnings report for
In its fiscal second quarter, the personalized online styling service missed both analyst estimates and its own guidance, and the company slashed its full-year revenue growth forecast from a 20% to 25% range to 18% to 20%. Given that, it s not surprising that the stock plunged as much as 31% on Tuesday, even on a day when its growth stock peers surged with the
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Author Bio
John covers consumer goods and technology companies for Fool.com.
Stitch Fix (NASDAQ:SFIX) entered 2020 having grown revenue by just 8.5% in 2019. But a combination of improvements to its recommendation engine and a wider selection of items helped boost revenue growth back to double-digit rates in the fiscal first quarter ending in October.
What s more, management sees revenue growth continuing to accelerate over the next year. The latest earnings results caused the stock to rocket higher, but this is just the start of Stitch Fix s mission to capture more share of the apparel industry.
Image source: Getty Images.
Customers are ready for their fix
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