Stitch Fix Announces Fourth Quarter and Full Fiscal Year 2019 Financial Results
SAN FRANCISCO, October 1, 2019 (GLOBE NEWSWIRE) -- Stitch Fix, Inc. (NASDAQ:SFIX), the leading online personal styling service, has released its financial results for the fourth quarter and full fiscal year 2019 ended August 3, 2019, and posted a letter to its shareholders on its investor relations website. Fiscal year 2019 included 53 weeks, with the additional week occurring in the fourth quarter.
Fourth quarter highlights
Active clients of 3.2 million, an increase of 18% year over year
Net revenue of $432.1 million, an increase of 36% year over year
Net income of $7.2 million and adjusted EBITDA of $6.4 million
Diluted earnings per share of $0.07
Full year highlights
Net revenue of $1.6 billion, an increase of 29% year over year
Net income of $36.9 million and adjusted EBITDA of $39.6 million
Diluted earnings per share of $0.36
“Q4 was another strong quarter for us, delivering net revenue of $432.1 million, representing 36% year-over-year growth,” said Stitch Fix founder and CEO Katrina Lake. “We grew our active clients to 3.2 million, an increase of 18% year over year. For the full year, we grew net revenue 29% year over year to $1.6 billion and captured more of our large addressable client base by adding nearly half a million active clients in 2019. In addition, we consistently demonstrated our ability to deliver great client experiences, growing revenue per active client in every quarter of fiscal 2019, including 9% year over year in Q4. These gains are a testament to the strength of our data science capabilities.”
Lake continued, “In our second year as a public company I’m proud of how much we’ve accomplished, and the opportunities we’ve created for future growth across categories and geographies. We have built a personalization engine with incredible potential, and I’m excited to expand on our platform in new and innovative ways.”
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 (786) 789-4772 internationally, and entering conference code 6009320.
A telephonic replay will be available through Tuesday, October 8, 2019, at (888) 203-1112 or (719) 457-0820, passcode 6009320. An archive of the webcast conference call will be available shortly after the call ends athttps://investors.stitchfix.com.
The following information was filed by Stitch Fix, Inc. (SFIX) on Tuesday, October 1, 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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Form Type: 10-K Annual Report Accession Number: 0001576942-19-000013 Submitted to the SEC: Wed Oct 02 2019 4:14:43 PM EST Accepted by the SEC: Wed Oct 02 2019 Period: Saturday, August 3, 2019 Industry: Retail Catalog And Mail Order Houses