initial public offerings (IPOs) trading on American exchanges

Tuesday, December 19, 2017

Stitch Fix (SFIX) reported earnings on Tue 19 Dec 2017 (a/h)

** chart before earnings **

** chart after earnings **

  • one week later

Stitch Fix beats by $0.01, reports revs in-line with preannouncement; guides Q2 revs above consensus; guides FY18 in-line
  • Reports Q1 (Oct) GAAP earnings of $0.04 per share, $0.01 better thanthe Capital IQ Consensus of $0.03; revenues rose 25.3% year/year to $295.6 mln vs the $294.97 mln Capital IQ Consensus -- in-line with preannouncement from IPO filing.
  • grew active client count to 2.4 million as of October 28, 2017, an increase of 29.7% year over year.
  • Continued to see growth in both Women's and Men's categories as well as encouraging results from our recent entry into Plus. Net revenue per active client for the 12 months ended October 28, 2017 was $433, a decrease of 1.4% compared to the 12 months ended October 29, 2016. This modest decline was largely driven by strategic expansion into Men's. Although the average male clients' lower purchase frequency dilutes overall net revenue per active client, we are pleased with the revenue contribution and profitable unit economics of the Men's business.
  • Co issues upside guidance for Q2, sees Q2 revs of $287-294 mln vs. $286.41 mln Capital IQ Consensus; EBITDA $11.5-15.5 mln vs. $16 mln est.
  • Co issues in-line guidance for FY18, sees FY18 revs of $1.170-1.22 bln vs. $1.18 bln Capital IQ Consensus; EBITDA $40-60 mln vs. $57.5 mln ests.
  • Looking ahead, we will continue to strive for a healthy balance of growth and profitability. We will seek efficiencies, savings, and leverage in SG&A to allow us to invest back into top-line growth through marketing spend, additional talent, and new businesses. 

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