Clothing subscription company Stitch Fix on Tuesday will announce its first earnings report since going public in November. Zoe Henry, Reporter at Inc. Magazine, joins The Long and The Short to give her predictions on the much-anticipated event.
Stitch Fix has a lot of competition in the clothing and retail industry, but Henry says she's mainly focused on user growth. When the company went public in November, it reported a customer base of 2.2 million. Henry is hoping that number can increase to show consistant interest from consumers.
We also need to talk about the elephant in the room: Amazon. It launched its "Amazon Wardrobe" service this year. Henry talks about the technology and data behind these personalized wardrobe companies and how creating the right algorithm can make or break your company.
Nestlé has dismissed its CEO Laurent Freixe after an investigation into an undisclosed relationship with a direct subordinate. The company announced on Monday that the dismissal was effective immediately. An investigation found that Freixe violated Nestlé’s code of conduct. He had been CEO for a year. Philipp Navratil, a longtime Nestlé executive, will replace him. Chairman Paul Bulcke stated that the decision was necessary to uphold the company’s values and governance. Navratil began his career with Nestlé in 2001 and has held various roles, including CEO of Nestlé's Nespresso division since 2024.
Kraft Heinz is splitting into two companies a decade after they joined in a massive merger that created one of the biggest food companies on the planet. One of the companies will include brands such as Heinz, Philadelphia cream cheese and Kraft Mac & Cheese. The other will include brands like Oscar Mayer, Kraft Singles and Lunchables. When the company formed in 2015 it wanted to capitalize on its massive scale, but shifting tastes complicated those plans, with households seeking to introduce healthier options at the table. Kraft Heinz's net revenue has fallen every year since 2020.
