Stitch Fix Soars After Company Easily Beats Profit Estimates
- Newly public apparel company unveils new line for children
- CEO Katrina Lake isn’t worried about Amazon competition
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Stitch Fix Inc., the apparel company that predicts what customers want, jumped the most in three months after reporting better-than-expected earnings and adding a new product line for kids.
The San Francisco-based firm soared as much as 14 percent to $22.52 in early afternoon trading in New York, its biggest intraday jump since March 5. The company priced its IPO at $15 late last year and the shares climbed as high as $30.07 in late December.