Day: October 1, 2018

Stitch Fix tumbles 20% in after-hours trading following lukewarm earnings report

Shares of Stitch Fix plunged more than 20 percent in after-hours trading on Monday following the release of a tepid fourth-quarter earnings report.

The online retailer and personal styling service’s adjusted earnings exceeded analyst expectations, but its revenue and active users fell short of estimates. In the quarter ending July 28, Stitch Fix reported a net income of $18.3 million, or 18 cents per share, up from analyst’s 4 cents per share estimate. Its reported net revenue of $318.3 million, a 23 percent year-over-year increase, failed to meet analyst expectations of $318.6 million.

The San Francisco-based company’s user base grew 25 percent YoY, to 2.7 million, another disappointment to Wall Street, which was looking for more than 2.8 million.

Stitch Fix, which has a market cap of nearly $4.4 billion, also reported fiscal year 2018 earnings. In its first year as a public company, Stitch Fix had $1.2 billion in net revenue, $44.9 million in net income and an adjusted EBITDA of $53.6 million.

Founder Katrina Lake took the company public on the Nasdaq in November 2017 in a highly anticipated consumer IPO. The company raised $120 million in the process, selling 8 million shares after making a last-minute decision to downsize its offering ahead of its first day of trading.

Following the release of its first-ever earnings report in December, shares of Stitch Fix similarly took a huge hit, plunging down 10 percent on the news.

The company usually finds its footing and, overall, its stock has continued to climb since its IPO. Stitch Fix had its best day yet on September 18 when its stock was valued at $52.44 apiece, up from the initial price of $15 apiece.

Alongside its earnings report, Stitch Fix announced the upcoming launch of Stitch Fix U.K., its first-ever international market expected to be available to consumers by the end of FY 2019. Following the release of its Q3 earnings report, the company announced the hire of Deirdre Findlay as its new chief marketing officer, as well as the launch of Stitch Fix Kids.

On the earnings call Monday, Lake emphasized how both services, Stitch Fix Kids and Stitch Fix U.K., will augment Stitch Fix’s total addressable market.

“We believe our ability to create a uniquely personalized shopping experience is something that will resonate with consumers and brands outside of the U.S.,” Lake said in a statement.

Take Up Your Business: How To Pitch A Business Idea

Presenting is probably one of the most common things people are afraid of. Anxiety, headache, high heart rate… All these symptoms are familiar to unexperienced presenters and professional speakers.

You might have an excellent idea which will take your business to a higher level, but if your presentation skills are not developed enough, you are likely to fail. Low self-esteem and anxiety are frequent enemies of young and ambitious professionals.

So, what can you do to pitch your ideas successfully? How can you stand out from the crowd and make people listen to you? What qualities or skills will assist you in this task?

Below are six ways on how to pitch a business idea successfully and draw the attention of your audience.

Face the Fear

business presentation

If you feel nervous while making a presentation, psychologists suggest you look straight in the eyes of your fear. Gain more experience telling jokes to friends, presenting ideas to your colleagues or just speaking to a crowd in the street. But don’t attack people straight away as you might have troubles with the police.

Try to capture the audience’s attention with funny stories or interesting facts. If you can pitch to a stranger, you can conquer the world with your ideas! All these exercises will help you reduce stress and feel calmer while presenting to a bigger audience.

See Also: Overcome Your Fear of Making a Presentation

Assertiveness

“Assertiveness” is a “buzzword” in the world of business. Assertive employees do not hesitate to respond to colleagues’ negative comments or ask for a pay rise. They state their position clearly so that no one can question their authority.

So, next time someone tries to kill your idea with negativity, feel free to fight back with arguments. If you’re assertive enough, others will treat your suggestions seriously and take your opinion into account.

Know Your Audience

There is a substantial difference when you present to a group of colleagues or you try to pitch your idea to a “big cheese”. The structure of your presentation, the choice of vocabulary, and even your look will be different.

It would seem weird if you organize a meeting with a board of directors and start your presentation with the phrase: “Hey, men! What’s up?” or show up dressed in a swimsuit.

Of course, you will bump into your audience’s memory, but your idea will unlikely gain the necessary support it needs. Surely, it would be better to prepare beforehand. Ask your colleagues for advice and get some information about your manager’s opinion. These steps will help you customize your ideas so they will be more appealing to your audience.

Predict Questions

It would be a fairy tale if your bosses accept all your suggestions without a question. Most likely, they’ll be interested in details or ask you to present a business plan. However, you have to stay realistic.

Your boss will not request your marital status or talk about space projects (unless you work for NASA). Financial statements, implementation plan, and profitability are what will make your bosses interested.

Try to get into your manager’s shoes and anticipate potential objections. Perhaps, your idea is not profitable enough or it is too risky for the company. Get prepared to defend your point of view with convincing arguments.

Use Visuals

visual presentation

Did you know that the human brain processes visual information 60,000 times faster than a speech or a text? You can be as eloquent as Kennedy or change your communication styles as a chameleon changes its colors, but you will not succeed if you don’t provide any pictures or charts.

The best solution here is to use infographics to briefly present the data. They are entertaining and will likely grasp the audience’s attention.

See Also: 7 Ways To Create a Presentation that Captures Attention

Show Your Personality

You can learn all the rules and still talk like a textbook. The best speakers, such as Margaret Thatcher or Martin Luther King, had a set of distinctive features which set them apart from other public figures.

If you are average, nobody will remember you!

It’s better to show something weird and become a star in the office rather than ramble, making people not want to pay attention to your ideas.

Are you a great joker or an interactive lecturer? Engage your audience in some activity or just tell a fascinating story. Define your peculiarity and show it up!

To wrap it up, you don’t need to spend long hours studying the habits of famous speakers. Just allocate some time, get prepared, remain assertive, and show your personality. Just follow these tips and you won’t have problems mastering how to pitch a business idea to anyone.

The post Take Up Your Business: How To Pitch A Business Idea appeared first on Dumb Little Man.

Trump administration sues California over its brand-new net neutrality law

The Department of Justice announced on Sunday that it has filed a lawsuit against California to block its new net neutrality law, just hours after it was signed by governor Jerry Brown. The lawsuit was first reported by the Washington Post. Senior Justice Department officials told the newspaper it is filing the lawsuit because only the federal government can regulate net neutrality and that the Federal Communications Commission had been granted that authority by Congress to ensure states don’t write conflicting legislation.

In its announcement, the Justice Department stated that by signing California’s Senate Bill 822 into law, the state is “attempting to subvert the Federal Government’s deregulatory approach by imposing burdensome state regulations on the free Internet, which is unlawful and anti-consumer.”

Attorney General Jeff Sessions said “under the Constitution, states do not regulate interstate commerce—the federal government does. Once again the California legislature has enacted an extreme and illegal state law attempting to frustrate federal policy. The Justice Department should not have to spend valuable time and resources to file this suit today, but we have a duty to defend the prerogatives of the federal government and protect our Constitutional order.”

This is the latest of several legal showdowns between the Trump administration and California, the largest blue state.

Under Attorney General Sessions, the Justice Department has already filed separate lawsuits against California over immigrant sanctuary laws and a law meant to stop the Trump administration from selling or transferring federal land to private corporations. The Trump administration is also clashing with the state over environmental protection regulations.

Senate Bill 822 was introduced by Democratic Senator Scott Wiener to reinstate Obama-era net neutrality protections tossed out by the FCC last year.

Even though Washington and Oregon have also passed their own net neutrality laws, the outcome of the federal government’s battle with California will have ramifications throughout the country because the state’s new net neutrality law is the most stringent one so far, banning most kinds of zero-rating, which allows telecoms to offer services from certain providers for free.

As such, it has been the target of fierce lobbying by telecoms like AT&T and Comcast. While the FCC’s chairman Ajit Pai and telecoms argue that zero-rating allows them to offer better deals (Pai claimed in the Justice Department’s statement today that they have proven popular “especially among lower-income Americans,”) net neutrality advocates say it gives Internet service providers too much power by forcing users to rely on certain services, stifling consumer options and freedom of information.