Stitch Fix Announces Third Quarter Fiscal Year 2019 Financial Results
SAN FRANCISCO, June 5, 2019 (GLOBE NEWSWIRE) -- Stitch Fix, Inc. (NASDAQ:SFIX), the leading online personal styling service, has released its financial results for the third quarter of fiscal year 2019 ended April 27, 2019, and posted a letter to its shareholders on its investor relations website.
Third quarter highlights
Active clients of 3.1 million, an increase of 17% year over year
Net revenue of $408.9 million, an increase of 29% year over year
Net income of $7.0 million and adjusted EBITDA of $(0.3) million
Diluted earnings per share of $0.07
“Q3 was another strong quarter for us, delivering net revenue of $408.9 million, exceeding our guidance and representing 29% year-over-year growth,” said Stitch Fix founder and CEO Katrina Lake. “We grew our active clients to 3.1 million, an increase of 17% year over year. At the same time, we continue to drive engagement with our existing client base, growing revenue per active client 8% year over year. These results demonstrate our ability to attract new clients and to serve our existing clients well. The continued strength of our Women’s category and the growth of our Men’s category give us even more confidence in our ability to scale new categories and geographies. As I look forward, I’m excited about the opportunities ahead to delight even more clients around the world.”
Please visit the Stitch Fix investor relations website athttps://investors.stitchfix.com to view the financial results included in the letter to shareholders. The Company intends to continue to make future announcements of material financial and other information through its investor relations website. The Company will also, from time to time, disclose this information through press releases, filings with the Securities and Exchange Commission, conference calls, or webcasts, as required by applicable law.
Conference Call and Webcast Information
Katrina Lake, Founder and Chief Executive Officer of Stitch Fix, Paul Yee, Chief Financial Officer of Stitch Fix, and Mike Smith, President and Chief Operating Officer of Stitch Fix, will host a conference call at 2:00 p.m. Pacific Time today to discuss the Company’s financial results and outlook. A live webcast will be accessible on Stitch Fix’s investor relations website at investors.stitchfix.com. Interested parties can also access the call by dialing (800) 458-4121 in the U.S. or (323) 794-2093 internationally, and entering conference code 3401344.
A telephonic replay will be available through Wednesday, June 12, 2019, at (888) 203-1112 or (719) 457-0820, passcode 3401344. An archive of the webcast conference call will be available shortly after the call ends athttps://investors.stitchfix.com.
About Stitch Fix, Inc.
Stitch Fix is reinventing the shopping experience by delivering one-to-one personalization to our clients, through the combination of data science and human judgment. Stitch Fix was founded in 2011 by CEO Katrina Lake. Since our founding, we’ve helped millions of men, women, and kids discover and buy what they love through personalized shipments of apparel, shoes, and accessories, hand-selected by Stitch Fix stylists and delivered to our clients’ homes.
The following information was filed by Stitch Fix, Inc. (SFIX) on Wednesday, June 5, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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Ticker: SFIX CIK: 1576942 Form Type:10-Q Quarterly Report Accession Number: 0001576942-19-000007 Submitted to the SEC: Thu Jun 06 2019 4:31:46 PM EST Accepted by the SEC: Thu Jun 06 2019 Period: Saturday, April 27, 2019 Industry: Retail Catalog And Mail Order Houses