NEW YORK, NY / ACCESSWIRE / September 26, 2024 / Pomerantz LLP is investigating claims on behalf of investors of Stitch Fix, Inc. ("Stitch Fix" or the "Company") (NASDAQ:SFIX). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Stitch Fix and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On September 24, 2024, Stitch Fix issued a press release "announc[ing] its financial results for the fourth quarter and full fiscal year 2024, ended August 3, 2024." Among other items, Stitch Fix disclosed that with fewer active clients in both the fourth quarter and full year, the Company experienced a 12.4% drop in sales in the quarter, resulting in a wider-than-expected loss. Anticipating declining sales in the first quarter and full year 2025, Stich Fix provided guidance for both the quarter and year that fell short of analyst expectations.
On this news, Stitch Fix's stock price fell $1.48 per share, or 39.47%, to close at $2.27 per share on September 25, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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SOURCE: Pomerantz LLP