Stitch Fix Inc (NASDAQ: SFIX) shares
soared more than 14 percent after reporting second-quarter
earnings.
Earnings came in at 12 cents per share, up from 2 cents per share in the same quarter of last year. Sales came in at $370.3
million, up from $295.906 million year over year.
"Q2 was another strong quarter for us, delivering net revenue of $370.3 million, exceeding our guidance and representing 25%
year-over-year growth," said Stitch Fix Founder and CEO Katrina Lake.
""Since becoming a public company, we have posted six consecutive quarters of over 20% growth, which demonstrates our ability to
drive consistent business performance. I'm proud that we're now serving 3 million people across the U.S. and remain focused on
delighting our existing clients and expanding our reach. We launched our first integrated brand campaign in February to increase
awareness and consideration with new and existing clients and we're excited to connect even more people to the power of
personalized styling."
Highlights
- 3 million active clients, increase of 18 percent year over year
- Net revenues increased 25 percent year over year
- Net income of $12 million
- Adjusted EBITDA of $19.2 million
Stitch Fix traded up 14.4 percent to $30.87 per share at time of publication. The stock closed the regular trading
session at $26.98, up nearly 5 percent for the day.
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Photo courtesy of Stitch Fix.
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