NEW YORK, NY / ACCESSWIRE / November 8, 2024 / Pomerantz LLP is investigating claims on behalf of investors in 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 illegal business practices.

(Click here for information on joining the class action)

On September 24, 2024, Stitch Fix issued a press release “announce(ing) its financial results for the fourth quarter and full fiscal year 2024, which ended August 3, 2024.” Among other things, Stitch Fix revealed that with fewer active customers in both the fourth quarter and the full year, the company experienced a 12.4% drop in sales during the quarter, resulting in a larger-than-expected loss. Stich Fix forecast declining sales in the first quarter and full year of 2025 and provided guidance for both the quarter and the 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 recognized as one of the premier firms in the areas of corporate, securities and antitrust litigation. Founded by the late Abraham L. Pomerantz, known as the dean of class actions, Pomerantz was a pioneer in the securities class action field. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of victims of securities fraud, breach of fiduciary duty and corporate malfeasance. The company has recovered billions of dollars in damages on behalf of class members. See www.pomlaw.com.

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SOURCE: Pomerantz LLP

See the original press release at accesswire.com