a man sitting at a desk: Amazon expanded its Personal Shopper by Prime Wardrobe service to include men's clothing. Amazon


© Amazon
Amazon expanded its Personal Shopper by Prime Wardrobe service to include men’s clothing. Amazon

  • Amazon announced an expansion to its Personal Shopper by Prime Wardrobe service, leading many to wonder about the impact it will have on Stitch Fix. 
  • “Obviously, whenever Amazon does anything in retail, we all pay really close attention, and apparel has been a strategic focus of theirs for a long time,” Ed Yruma, managing director at KeyBanc Capital Markets, told Business Insider. 
  • But analysts said that Stitch Fix is still well-positioned to benefit from the wave of bankruptcies that have plagued retail this year, among other factors.
  • Visit Business Insider’s homepage for more stories.

Last week, Amazon expanded its Personal Shopper by Prime Wardrobe offerings to include men’s clothing. 

Loading...

Load Error

For $4.99 a month, members receive shipments of clothing that are curated based on their style and fit preferences. Personal Shopper was first launched for women’s clothing in July 2019. According to an Amazon spokesperson, “hundreds of thousands” of people have since set up profiles for Personal Shopper. 

The news that Amazon was expanding the service set off alarm bells for many wondering whether it would spell doom for Stitch Fix, the publicly traded personal styling tech company.

Stitch Fix’s primary line of business is its “Fixes,” which are boxes of items selected for male and female shoppers by stylists using data on users’ personal style and fit. 

But analysts say that Amazon’s growth into this category won’t hurt Stitch Fix too much — not any more than Amazon’s usual innovations do, at least. 

“Obviously, whenever Amazon does anything in retail, we all pay really close attention, and apparel has been a strategic focus of theirs for a long time,” Ed Yruma, managing director at KeyBanc Capital Markets, told Business Insider. 

Yruma said

The number of confirmed cases of the coronavirus that causes COVID-19 rose to 33.4 million on Tuesday, a day after the global death toll reached 1 million, as governments around the world moved to reimpose restrictions on movement in a fight to contain the spread.

Governments across Europe are grappling with rising infections, including in countries like Germany that appeared to have the crisis under control earlier this year, and some including Italy, France and the U.K., are considering or have imposed new emergency measures. South America, parts of Asia and the Middle East are still counting thousands of new cases a day with no sign the virus is slowing, according to data aggregated by Johns Hopkins University that has become a global benchmark for tracking the virus.

Dr. Michael Ryan, head of the World Health Organization’s emergencies program, said Monday the true toll from COVID-19 likely exceeds 1 million. Experts have cautioned that there are discrepancies between how data is collected and reported in different countries.

“When you count anything, you never count it perfectly,” he told reporters at a press briefing in Geneva. “But I can assure you that the current numbers are likely an underestimate of the true toll of COVID.”


“Responsible leadership matters. Science matters. Cooperation matters – and misinformation kills. As the relentless hunt for a vaccine continues – a vaccine that must be available and affordable to all – let’s do our part to save lives.”


— António Guterres, Secretary-General, United Nations

The U.S., which accounts for just 4% of the world’s population, continues to lead in case numbers and fatalities, with 7.2 million confirmed case and 205,091 deaths, almost a fifth of the global total. Experts have said the numbers would be lower if the U.S. had stuck with a consistent



a group of baseball players standing on top of a grass covered field: A President Donald Trump and a former Vice President Joe Biden supporter converse before the Joe Biden Campaign Rally at the National World War I Museum and Memorial on March 7, 2020 in Kansas City, Missouri. (Photo by Kyle Rivas/Getty Images)


© (Photo by Kyle Rivas/Getty Images)
A President Donald Trump and a former Vice President Joe Biden supporter converse before the Joe Biden Campaign Rally at the National World War I Museum and Memorial on March 7, 2020 in Kansas City, Missouri. (Photo by Kyle Rivas/Getty Images)

  • Risky assets such as stocks, oil and copper fall ahead of first presidential debate, while gold and government bonds gain.
  • “Overall, we’d advise to err on the side of caution today, given yesterday’s uneven risk rally which thrived on thin air,” KBC analysts said in a note
  • S&P 500 heads for biggest monthly slide since March, as investors shunned technology and banking stocks, while the dollar is at a two-month high.
  • Visit Business Insider’s homepage for more stories.

Stocks fell in Europe on Tuesday, as investors ditched riskier assets, such as industrial commodities and took some profit on the dollar’s two-month highs ahead of the first of three presidential debates later in the day and as the global coronavirus death toll passed 1 million.

Loading...

Load Error

Incumbent Republican candidate Donald Trump faces Democrat opponent Joe Biden later in the day in the first of three televised debates running up to the November 3 election. 

Investors in stocks have grown increasingly nervous about the race for the White House and, in particular, over the prospect of a delay to the final result, which has been partly responsible for the 4% drop in the S&P 500 this month and the flow of cash into the dollar.

“Historically the debate isn’t a big market moving event,” Fiona Cincotta, a strategist at spread-better CityIndex, said. “However, given the backdrop of coronavirus and a record breaking contraction in Q2, the public could be more easily swayed than in other years and investors could be twitchier than usual, meaning