Stitch Fix (SFIX) reported earnings Tue 22 Sept 20 (a/h)

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Stitch Fix misses by $0.27, beats on revs

Reports Q4 (Jul) loss of $0.44 per share, $0.27 worse than the S&P Capital IQ Consensus of ($0.17); revenues rose 2.6% year/year to $443.4 mln vs the $415.52 mln S&P Capital IQ Consensus.

Reports active clients of 3.5 million, an increase of 9% year over year.

Net revenue per active client of $486, an increase of 2% year over year on an adjusted basis.

The San Francisco-based company reported a fourth-quarter loss of $44.5 million, or 44 cents a share, vs. a profit of $7.2 million, or 7 cents a share, in the year-ago period. Adjusted Ebitda, excluding stock-based compensation, was $11.8 million. Revenue rose to $443 million from $432 million in the year-ago quarter. Analysts surveyed by FactSet had forecast a loss of 16 cents a share on revenue of $415.2 million.

Stitch Fix grew its active clients 9% year-over-year to 3.5 million, and CEO Katrina Lake said in a statement that she was proud of her team for “successfully navigating through the deepest impacts of COVID-19” and expressed optimism about the future of online shopping.

Stitch Fix shares have risen more than 19% so far this year, about on par with the Nasdaq Composite Index COMP, -2.73%, which is up about 20%.

Stitch Fix (SFIX) reported earnings on Thur 7 June 2018 (a/h)

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Stitch Fix beats by $0.06, beats on revs; guides Q4 revs in-line; slightly raises FY18 revs outlook, narrows adj EBITDA guidance 

• Reports Q3 (Apr) earnings of $0.09 per share, excluding non-recurring items, $0.06 better than the Capital IQ Consensus of $0.03; revenues rose 29.2% year/year to $316.7 mln vs the $306.67 mln Capital IQ Consensus.
• Grew active clients to 2.7 million as of April 28, 2018, an increase of 614,000 and 29.6% year over year.
• Co issues in-line guidance for Q4, sees Q4 revs of $310-320 mln vs. $314.81 mln Capital IQ Consensus Estimate.
  • Also sees adj EBITDA of $6-11 mln
• Co slightly raises FY18 rev guidance -- now sees revs of $1.22-1.23 bln (from $1.19-1.22 bln) vs. $1.21 bln Capital IQ Consensus Estimate. Narrows adj EBITDA guidance to $48-53 mln from $45-55 mln
• Also names Deirdre Findlay as Chief Marketing Officer

Stitch Fix names Deirdre Findlay as Chief Marketing Officer 
Findlay most recently served as Senior Director of Global Hardware Marketing at Google (GOOG), where she oversaw marketing for Google's home hardware products, including Google Home, Chromecast, and Google Wifi. Findlay has nearly 20 years of experience leading cross-departmental teams, delivering strategic integrated marketing campaigns, and building brand strategy at organizations like Google and eBay (EBAY), as well as for Whirlpool Brands (WHR), Allstate Insurance (ALL), MillerCoors, and Kaiser Permanente while serving as SVP at leading digital marketing agency Digitas.

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

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• 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. 

Stitch Fix (SFIX) started trading on the Nasdaq on 17 October 2017

Stitch Fix is an online subscription and personal shopping service in the United States. 

• Founded in 2011
• Headquarters: San Francisco, CA
• Founder and CEO: Katrina Lake; the youngest woman to take a company public
• stitchfix.com

Stitch Fix Chief Executive Katrina Lake 

• 10 days later:

Back in 2010, Lake tested the Stitch Fix concept for the first time in her apartment in Cambridge, Mass. while she was getting her business degree at Harvard Business School. The company officially launched in 2011, and six years later, the company -- which became profitable in 2014 -- now has over 5,700 employees and more than 3,400 stylists on staff, three offices, five warehouses and 10 remote styling hubs.

How Stitch Fix Works

The company has shipped millions of Fixes to date. Here’s what the smart-shopping process looks like.

1. Users fill out a 10- to 15-minute online or in-app Style Profile, indicating their fashion sensibilities, sizes, and budget.

2. An algorithm compares the customer’s preferences to Stitch Fix’s inventory of nearly 700 brands (plus the company’s 18 exclusive labels) and generates a list of items she’d be most likely to keep.

3. For a $20 styling fee (to be applied as a credit to any items that are kept), the list is assigned to one of Stitch Fix’s 3,400 personal stylists, who review the options against the shopper’s profile and choose five pieces to be sent. A note about how to style or accessorize the looks is included.

4. After receiving the box, the customer reviews each piece online, keeps what is wanted, and returns the rest. This data is logged on both the customer’s profile and the item, helping to better tailor future boxes to her taste.