Stitch Fix Plans To Slash 20% Of Salaried Jobs, CEO Steps Down


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  • Stitch Fix Inc (NASDAQ:SFIX) is slashing about 20% of its salaried jobs. In addition, the company plans to close its Salt Lake City distribution center.
  • The personal styling service provider said Elizabeth Spaulding will step down as Chief Executive Officer and as a member of the Board of Directors, effective January 5, 2023.
  • Founder and former CEO Katrina Lake has been named CEO, also effective January 5, 2023, to serve in an interim capacity for six months or until her successor is appointed.
  • Katrina Lake served as the company's CEO from its inception in 2011 until July 31, 2021. She has been a member of the Board of Directors since the company's founding.
  • SFIX reported a 22% decline in Q1 revenue and incurred a net loss of $(55.9) million.
  • Price Action: SFIX shares are trading higher by 3.75% at $3.32 on the last check Thursday.
  • Photo Via Company

Crypto Whales Are Loading Up — Are You?

New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.


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