Stitch Fix Is Staring at a Huge Market Share Opportunity
There's no question that COVID-19 has clobbered the apparel industry.
According to the U.S. Census Bureau, sales at clothing stores in March fell 50% from a year ago, and then plunged 89% year over year in April as the vast majority of non-essential shops across the country were closed.
The pandemic has led solidly profitable retailers like Macy's and Gap to seek emergency financing to weather the crisis, and even skip out on rent, prompting a lawsuit from mall landlord Simon Property Group against Gap.
Source Fool.com
