21%
That’s how much shares of Stitch Fix fell after it said that user growth will be flat in the current quarter. The online clothing service posted earnings of $10.7 million (10 cents per share) Monday, on revenue of $366.2 million, exceeding Wall Street expectations. But its disappointing outlook caused analysts to downgrade the stock. The San Francisco company said it would focus on getting its customers to spend more instead of trying to reach new users.
CBS has sold the famed Television City, its Los Angeles headquarters and production facility, to a real estate developer for $750 million. Shows made at Television City include “The Young and the Restless” and “The Price is Right.” They will stay for at least five more years. The buyer is Hackman Capital Partners and it will have the right to use the Television City name. CBS purchased the 25-acre property in 1950 when it expanded operations from New York to the West Coast. Shows that have been produced at the historic venue include “All In The Family” and “The Carol Burnett Show.”
2.5 million
That’s how many people that U.S. airlines expect to travel each day during the Christmas and New Year’s break, an increase of 5.2 percent over last year. The busiest day is expected to be the Friday before Christmas. The least-busy days will be Christmas Eve and Christmas Day. Trade group Airlines for America said Tuesday that it forecasts 45.7 million passengers will fly on a U.S. airline during the 18-day stretch that starts Thursday, Dec. 20, and runs through Jan. 6, the Sunday after New Year’s Day.
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