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Benzinga
Benzinga
Business
Shivani Kumaresan

Stitch Fix Stock Jumps On $150M Share Repurchase Program

  • Stitch Fix Inc (NASDAQ:SFIX) said its Board of Directors had authorized a share repurchase program for up to $150 million of its Class A common stock.
  • The company plans to fund the repurchases under this program with its existing cash and cash equivalents or future cash flow. 
  • Stitch Fix held $400.5 million in cash and equivalents as of October 30, 2021.
  • The company had 83.19 million Class A common shares and 25.6 million Class B common shares outstanding as of October 30, 2021.
  • Price Action: SFIX shares are trading higher by 12.5% at $19.83 on the last check Thursday.
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