- StitchFix's active clients grew 25 percent from a year, but it was less than Wall Street expected.
- The disappointing news sent shares skidding 32 percent to $30.31 a share in midday trading.
Shares of Stitch Fix lost almost a third of their value Tuesday after the company disclosed user data for its online personal styling service that disappointed investors.
The company said its "active" clients grew 25 percent from a year ago to 2.7 million by the end of its fourth quarter ended July 28. Analysts were expecting an even bigger bump to 2.81 million, according to data compiled by StreetAccount.
The disappointing news sent shares skidding 32.6 percent to $30.10 a share in midday trading. It was the stock's heaviest trading day since its IPO in November with more than 27 million shares trading hands by midday, compared with its 30-day average volume of 3.2 million shares, according to data compiled by FactSet.
To be sure, the stock is still up 17.4 percent so far this year, and CEO Katrina Lake told CNBC's "Squawk Alley" that revenue was on the high end of its previous guidance.
Stitch Fix, which provides a box of clothing delivered to your door however often you choose, was originally just for women and in the United States. The company is now expanding into men's and children's clothing, and is bringing the business across the pond to the United Kingdom.
"Right now is a great time to see that because men's is getting to a place where we see greater maturity in that business. And kids, our newest business, hasn't blended into those clients yet," Lake said.
She said that personalization is incredibly important for Stitch Fix. With the company's expansion to the U.K., it will have to have local stylists, who know local brands that Britons will want to wear. Increasing its sales per client, which rose during the quarter, is a key focus, Lake said.
"What that really means is that we have clients who are spending more with us, clients that are high-quality clients and that's definitely an element of the business that we're really excited about," she said.