Stitch Fix's Appointment Of Former Macy's Exec Expected To Boost Digital Growth, Analyst Predicts
Portfolio Pulse from Nabaparna Bhattacharya
Stitch Fix recently appointed former Macy's executive Matt Baer as its CEO, effective June 26, 2023. Telsey Advisory Group analyst Dana Telsey reiterated a Market Perform rating on Stitch Fix with a price target of $5, noting Baer's significant digital and merchandising experience.
June 15, 2023 | 5:18 pm
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NEUTRAL IMPACT
Former Macy's executive Matt Baer has been appointed as Stitch Fix's CEO. Baer was responsible for the growth and strategic long-term vision of Macy's and Bloomingdale's digital businesses.
Matt Baer's departure from Macy's to Stitch Fix is mentioned in the article, but there is no direct indication of how this will impact Macy's stock price in the short term. Therefore, the impact on Macy's stock is considered neutral.
CONFIDENCE 80
IMPORTANCE 40
RELEVANCE 50
POSITIVE IMPACT
Stitch Fix appointed former Macy's executive Matt Baer as CEO, which is expected to boost digital growth. Telsey Advisory Group reiterated a Market Perform rating with a $5 price target.
Matt Baer's appointment as CEO is expected to boost Stitch Fix's digital growth due to his significant experience in digital and merchandising. The analyst's reiteration of a Market Perform rating and a $5 price target indicates a positive outlook for the company's stock in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100