Why Stitch Fix Stock Was Down This Week
Stitch Fix (NASDAQ: SFIX) shareholders lost ground to a falling market this week. The stock declined 11% through Thursday trading, according to data provided by S&P Global Market Intelligence, compared to a 4.1% slump in the S&P 500. The drop added to big losses for owners of the e-commerce specialist, which is down over 70% so far in 2022.
General economic worries drove the slump, but Wall Street also has big concerns heading into Stitch Fix's upcoming earnings report.
The main factor driving Stitch Fix shares lower was news from the Labor Department showing that inflation remained stubbornly high in August. That update stoked fears of a pullback in consumer spending on the way that would impact many businesses.
Source Fool.com
