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U.S. markets logged modest gains
U.S. stocks booked slight gains Wednesday, however, volumes were seasonally low and activity muted as investors are reluctant to make big bets with just a few trading days remaining in 2017.
The Dow Jones rose 0.1% while S&P Index and NASDAQ Composite Index closed below 0.1%. Gains in health care, technology and real-estate helped to offset losses in energy.
Stitch Fix’s plans to acquire new customers
Online styling service Stitch Fix's shares rose more than 10% after reporting its first earnings as a publicly traded company on Tuesday.
Earnings and sales surpassed analyst’s expectations, however profit margins declined due to an increase on investments.
Total sales climbed 25% boosted by growth in the company's recently launched men's and plus-size divisions.
Stitch Fix went public in mid-November, and currently shares are up 82% from their IPO price of $15. Looking ahead, Stitch Fix said it expects to post sales between $287 million and $294 million in the second quarter.
CEO Katrina Lake said Stitch Fix plans to grow with existing clients in its core women's business. Moreover, the company aims to acquire new customers.
There's also the opportunity for Stitch Fix to grow by selling lower-priced items, under $50 a piece, which can be more difficult to find online. It will be experimenting with other trends and considering growing some of its own private-label fashion lines.
Lake said, that in order for the company to acquire new customers it needs to use a diverse strategy.
Nintendo’s stock jumps up 75%
Nintendo Co. Ltd. stock moved up more than 75% since January after releasing “Super Mario Run” for mobile devices in December 2016 and the company’s latest console, the Switch, in March.
Since its debut, the Switch has sold 10 million units world-wide. Nintendo in September launched its latest mini-console, the Super Nintendo Classic; selling 2 million units.
In October, Nintendo released “Super Mario Odyssey”, the latest 3-D adventure game featuring its beloved mascot Mario. In less than two months, Nintendo says the game has sold 5 million copies.
Analysts say that 2018 will be key for Nintendo to produce a robust list of games that continue to drive fan excitement for the Switch and beyond.
It remains to be seen, however, if the Switch can be as successful as the Wii, which sold 101 million units world-wide over seven years.
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