Shares of Stitch Fix were up more than 8% Tuesday after the clothing styling service's quarterly results beat analyst expectations.
is finding success in an evolving retail landscape because its business embodies the new consumer preference, CEO Katrina Lake told CNBC on Tuesday.
Stitch Fix's active clients matched analyst estimates at 3.4 million, a 17% increase from a year earlier. That means clients are "buying more things, staying longer, having more successful experiences, and that is all great," she said. But in October, Stitch Fox began rolling out a new service called Shop Your Look, which shows subscribers around 30 to 40 items, utilizing data from their previous purchases, and gives them a chance to buy products individually.So far, Shop Your Looks is available to only 30% of Stitch Fix's women's clients, Lake said, "so we have a lot of work to do to optimize the feature" and make it available to its millions of subscribers.
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