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Stitch Fix, Inc. (NASDAQ: SFIX) is a pioneering fashion retailer that combines expert styling with proprietary technology to deliver a uniquely personalized shopping experience. Founded with the vision of merging data science with human judgment, Stitch Fix offers personal style services tailored to individual preferences. Clients begin by filling out the Stitch Fix style profile, after which personal stylists handpick a 'fix' of five clothing items and accessories tailored to their taste, budget, and lifestyle.
The company extends its personalized styling services to both men and women across various categories, including Women's, Petite, Maternity, Men's, and Plus. The comprehensive product range includes denim, dresses, blouses, skirts, shoes, jewelry, and handbags, catering to various price points and style preferences.
Stitch Fix operates on a model where each shipment, known as a 'FIX,' is curated based on a combination of client data and merchandise analysis, ensuring the selections are tailored to meet the client’s needs. Clients can purchase the items they love and return the rest, making the shopping experience convenient and hassle-free.
Recent developments highlight Stitch Fix's robust financial performance. As of the first quarter of fiscal 2024, the company has reported its financial results, demonstrating significant milestones. The company continues to refine its strategies by adjusting its fiscal year net revenue to provide accurate year-over-year comparisons. These adjustments reflect the company's commitment to transparent and effective financial reporting.
Stitch Fix's unique blend of technology and personal touch has established it as a trusted service in the online personal styling industry. For more details, contact their IR at Hayden Blair (ir@stitchfix.com) or PR at Kathryn Hull (media@stitchfix.com).
Stitch Fix (NASDAQ: SFIX) announced its Q4 and full fiscal year 2024 financial results. Key highlights include:
- Q4 net revenue of $319.6 million, down 12.4% year-over-year
- Q4 gross margin of 44.6%, up 50 basis points year-over-year
- Q4 net loss of $35.7 million
- Full year net revenue of $1.34 billion, down 16.0% year-over-year
- Active clients decreased 19.6% year-over-year to 2,508,000
- Net revenue per active client increased 4.5% to $533
The company provided Q1 2025 guidance with net revenue expected between $303-$310 million and Adjusted EBITDA between $5-$9 million. For fiscal year 2025, net revenue is projected at $1.11-$1.16 billion with Adjusted EBITDA of $14-$28 million.
Stitch Fix (NASDAQ:SFIX), the leading online personal styling service, has announced the date for its fourth quarter and full fiscal year 2024 financial results release. The company will disclose its financial performance for the period ended August 3, 2024, after market close on Tuesday, September 24, 2024. Following the release, Stitch Fix will host a conference call at 2:00 p.m. PT / 5:00 p.m. ET to discuss the results and outlook.
The call will be led by CEO Matt Baer and CFO David Aufderhaar. Investors and interested parties can access the live webcast through the company's investor relations website. For those joining by phone, registration is required to obtain the dial-in number and unique PIN. A replay of the webcast will be available for a time on the investor relations site.
Stitch Fix (NASDAQ: SFIX) has appointed Timothy Baxter and Fiona Tan to its Board of Directors, effective Oct. 14. Baxter, former CEO of Express, Inc. and Chief Merchandising Officer of Macy's, brings over 30 years of retail leadership experience. Tan, current CTO of Wayfair Inc. and former SVP of Technology at Walmart U.S., contributes 25+ years of technology and innovation expertise.
CEO Matt Baer emphasized the value of their combined experience in apparel retail, merchandising, and retail technology as Stitch Fix undergoes a transformation. The company aims to deliver a client-centric, personalized shopping experience and drive sustainable, profitable growth. Founding investor Steve Anderson has resigned from the Board after 13 years of service.
Stitch Fix (NASDAQ: SFIX) announced its Q3 fiscal 2024 results ended April 27, 2024. The company reported $322.7 million in net revenue, down 16% year-over-year, and a net loss of $22 million. Active clients decreased by 6% quarter-over-quarter to 2,633,000, but revenue per active client increased 2% to $525. Gross margin improved by 280 basis points to 45.5%. Adjusted EBITDA was $6.7 million, reflecting effective cost management. Free cash flow was $18.9 million, with $244.5 million in cash and no debt. For Q4 fiscal 2024, projected revenue is $312-$322 million and adjusted EBITDA is $5-$10 million. Fiscal year 2024 projections include $1.33-$1.34 billion in revenue and $25-$30 million in adjusted EBITDA. A non-cash impairment charge of $15-$20 million for its San Francisco headquarters is expected in Q4.
Stitch Fix (NASDAQ: SFIX) announced it will release its third quarter fiscal year 2024 financial results on June 4, 2024, after market close. The period ended on April 27, 2024. A conference call is scheduled for 2:00 p.m. PT / 5:00 p.m. ET the same day, hosted by CEO Matt Baer and CFO David Aufderhaar, to discuss the results and outlook. The live webcast will be accessible on the Stitch Fix investor relations website. Phone participants must register to obtain access details. A replay of the webcast will be available for a time.
Stitch Fix (NASDAQ:SFIX) announced on May 17, 2024, the granting of restricted stock units (RSUs) to a new employee, effective May 15, 2024. The RSU grant covers 118,722 shares of the company's Class A common stock. One-fourth of the RSUs will vest on June 12, 2024, with the remaining shares vesting in three equal quarterly installments. The grant is part of Stitch Fix's Amended and Restated 2019 Inducement Plan, aimed at attracting new talent. The plan was approved by the company's board of directors in April 2022 under Nasdaq's Rule 5635(c)(4).
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