Home Adidas product Stitch Fix first quarter revenue up 19%

Stitch Fix first quarter revenue up 19%



For the first quarter, Stitch Fix, Inc. reported net sales of $ 581.2 million, an increase of 19% year-on-year. The company’s net loss was $ 1.8 million and diluted loss per share was 2 cents, while Adjusted EBITDA was $ 38.2 million.

The company’s active customers reached 4,180,000, an increase of 417,000 or 11%, while net income per active customer of $ 524 increased 12%.

Commenting on the update, Elizabeth Spaulding, CEO of Stitch Fix, said: “These quarterly results reflect a strong performance from our business in both Fix and Freestyle. With the launch of Stitch Fix Freestyle, we are expanding and expanding our offering, and we are excited to continue to improve the customer experience through the introduction of new product features and expanded merchandise selections, increasing the number of buying opportunities that we serve.

The company said Stitch Fix saw strong revenue growth with continued momentum among women as well as children, and in the UK, where it nearly doubled revenue from the first quarter of last year. .

The company has added more than 20 new brands including Adidas, DKNY, Vans and Rag & Bone Footwear, as well as launched new product lines such as the Grantees brand owned by Elevate Black and Mohnton Made, a durable and manufactured staple line. in the USA.

For the second quarter, the company forecasts net sales growth of 0-3% to $ 500-520 million and adjusted EBITDA of minus $ 5 million to over $ 5 million with a margin of between minus 1% and positive 1%, for the full year 2022, which ends July 30, 2022, Stitch Fix expects year-over-year net revenue growth at a high rate to a figure and an adjusted EBITDA margin of between 1 and 2%.