Stitch Fix Board authorizes $150 million share repurchase program

Stitch Fix, Inc.

Authorization to repurchase up to $150M of Class A common stock with no expiration date.
Repurchases may be made via open market, private transactions, or 10b5-1 plans.
Funding from existing cash; as of Oct 30, 2021, company had $400.5M in cash and securities.
CEO Spaulding cites confidence in strategy and growth potential not reflected in valuation.
Program can be modified, suspended, or terminated at any time; total shares outstanding: ~108.8M (Class A + B).

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