Stitch Fix, Inc. - SFIX STOCK NEWS

Stitch Fix, Inc. (NASDAQ:SFIX) reported Q2 FY2023 results, showing a net revenue of $412.1 million, down 20% year-over-year, and a net loss of $65.6 million, or diluted loss per share of $0.58. Active clients decreased by 445,000 to 3,574,000, while the net revenue per active client fell by 6.0% to $516. Adjusted EBITDA stood at $3.8 million. The company aims to achieve $135 million in cost reductions, tightening its full-year adjusted EBITDA guidance to between $0 million and $10 million. Looking ahead, Q3 revenue is projected between $385 million and $395 million.

Stitch Fix (NASDAQ: SFIX) will release its second quarter fiscal year 2023 financial results on March 7, 2023, after market close. The live conference call, hosted by Interim CEO Katrina Lake and CFO Dan Jedda, will occur at 2:00 p.m. PT / 5:00 p.m. ET the same day. Investors can listen in via a webcast on the company's investor relations website or by phone after registering for a unique PIN. The financial results will provide insights into Stitch Fix's performance and outlook, which are crucial for understanding the company's trajectory in the competitive online retail market.

Stitch Fix, Inc. (NASDAQ:SFIX) announced the departure of Elizabeth Spaulding as CEO and Board member, effective January 5, 2023. In her statement, she emphasized the need for new leadership during an ongoing transformation aimed at profitability. Katrina Lake, the company founder and former CEO, returns in an interim capacity. Lake has previously led the company to significant growth, achieving annual revenues of $1.7 billion before stepping down in 2021. The Board is set to identify a permanent successor within six months.

Stitch Fix Inc. (NASDAQ: SFIX) announces the appointment of Kofi Amoo-Gottfried, Chief Marketing Officer at DoorDash, to its Board of Directors, effective immediately. Amoo-Gottfried brings extensive experience from positions at Meta and Bacardi, focusing on brand and marketing. CEO Elizabeth Spaulding expressed enthusiasm for his expertise in customer engagement and marketing strategies as the company seeks to enhance its personalized shopping experience. Amoo-Gottfried is the ninth board member, representing diverse backgrounds in leadership roles.

Stitch Fix, Inc. (NASDAQ:SFIX) reported financial results for Q1 FY2023, ending October 29, 2022. The company achieved a net revenue of $455.6 million, reflecting a 22% year-over-year decline, with active clients decreasing by 11% to 3.7 million. A net loss of $55.9 million resulted in a diluted loss per share of $0.50. Despite challenging conditions, Stitch Fix improved its adjusted EBITDA guidance, anticipating up to $5 million for Q2. The company aims for FY2023 net revenue between $1.6 billion and $1.7 billion.

Frontdoor, Inc. (NASDAQ: FTDR) has appointed Jessica P. Ross as Senior Vice President and Chief Financial Officer, effective December 30, 2022, succeeding Brian Turcotte, who will continue as an advisor until March 31, 2023. Ross brings over 20 years of experience from Salesforce, where she held executive finance roles. Her previous experience includes leadership at Stitch Fix during its IPO. Frontdoor aims for growth in the home services sector, serving 2.2 million customers and operating through 17,000 contractor firms.

Stitch Fix (NASDAQ: SFIX) will announce its first quarter fiscal year 2023 financial results on December 6, 2022, after market close. A conference call will follow at 2:00 p.m. PT / 5:00 p.m. ET, hosted by CEO Elizabeth Spaulding and CFO Dan Jedda, to discuss the results and future outlook. Interested parties can access the live webcast through the Stitch Fix investor relations website. A replay will be available for a limited time. Stitch Fix blends expert stylists' insights with advanced data science to enhance online personal styling for clients.

Stitch Fix, Inc. (NASDAQ:SFIX) reported its Q4 and FY 2022 financial results, revealing a net revenue of $481.9 million, down 16% year-over-year. Active clients dropped by 370,000 to 3,795,000, while revenue per active client increased by 8% to $546. The company faced a net loss of $96.3 million, translating to a diluted loss per share of $0.89. For Q1 FY 2023, Stitch Fix anticipates revenue between $455 million and $465 million, reflecting a decline of up to 22% year-over-year, amid ongoing challenges in retail spending.