×
6 103
Fashion Jobs
TJX EUROPE
tk Maxx Loss Prevention Officer Full Time Staines
Permanent · Staines-upon-Thames
STELLA MCCARTNEY
Global Marketing Director
Permanent · LONDON
GAME
Ecommerce Merchandiser
Permanent · BASINGSTOKE
SPORTS DIRECT
Retail Front of House Operations Supervisor
Permanent · WEMBLEY
PATAGONIA
Dealer Service Operations Specialist (F/M/D)
Permanent · MANCHESTER
PRETTYLITTLETHING
Senior Product Owner
Permanent · MANCHESTER
PRIMARK
Stockroom Retail Assistant
Permanent · WATFORD
PRIMARK
Wms Project Manager
Permanent · ISLIP
PRIMARK
Engineering Manager, Digital
Permanent · READING
ESTÉE LAUDER
Clinique - Consultant - Marks & Spencer - 8 Hours
Permanent · Glasgow
ESTÉE LAUDER
Clinique - Consultant - Boots - 18,5hrs
Permanent · London
ESTÉE LAUDER
Clinique - Consultant - Browns - 10hrs
Permanent · Beverley
ESTÉE LAUDER
Clinique - Consultant - Boots - 18hrs
Permanent · Glasgow
BOOHOO
Senior Buyer
Permanent · MANCHESTER
ABERCROMBIE AND FITCH STORES
Abercrombie & Fitch - Full Time Stock Lead Associate, Regent Street
Permanent · London
ESTÉE LAUDER
Clinique - Consultant - Marks & Spencer - 11hrs
Permanent · Aberdeen
HOMESENSE
Loss Prevention Officer - Full Time tk Maxx & Homesense Maidstone
Permanent · Maidstone
WAITROSE
Customer Delivery Driver- Coulsdon Customer Fulfilment Centre
Permanent · LONDON
JOHN LEWIS
Loss Prevention Partner
Permanent · LONDON
HOLLISTER CO. STORES
Hollister CO. - Brand Representative, Braehead
Permanent · Renfrew
LEVI'S
Digital Marketing Manager
Permanent · London
DR. MARTENS
Employee Relations Manager UK & eu
Permanent · LONDON
Ads
Published
Mar 9, 2021
Reading time
2 minutes
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Stitch Fix disappoints with sales, swings to loss

Published
Mar 9, 2021

San Francisco-based fashion subscription service Stitch Fix, Inc. reported Q2 net sales of $504.1 million on Monday, increasing 12% year over year from $451.8 million, but nonetheless coming in under the Refinitiv forecast of $512.2 million, as cited by CNBC.


Stitch Fix's active clients rose 12% year over year - Instagram: @stitchfix

 
In the second quarter ended January 31, 2021, the platform’s active clients totaled approximately 3.9 million, up 12% from the same period in the previous year. However, net revenue per active client fell 7% year over year to $467.
 
According to the company, its revenues were negatively impacted during the period due to shipping delays over the holiday season, which meant that it had to work through a backlog. This, in turn, meant that the platform, which recognizes revenues when clients check items out, and not when the order is shipped, could not record revenue for all of the boxes shipped during the quarter.  

Despite its revenue gains, Stitch Fix swung to a net loss of $21.0 million, or $0.20 per diluted share, in the quarter, compared to net income of $11.4 million, or $0.11 per diluted share, in the prior-year period.
 
Year to date, the company’s net revenue totaled $994.5 million, up 11% from $896.6 million in the first two quarters of the previous year. The platform’s net loss for the six-month period was $11.5 million, or $0.11 per share, compared to net income of $11.3 million, or $0.11 per share, in the first half of the previous year.
 
“In our first two quarters we had more net active client additions than in our entire past fiscal year, and we delivered one of our strongest Januarys on record,” said Stitch Fix founder and CEO Katrina Lake in a release. “This level of demand for our model of personalized discovery and radical convenience positions us well to continue to capture share amidst the ongoing shift in the retail landscape, and gives us confidence in our long-term opportunity.”
 
Looking forward, Stitch Fix expects to report net sales in the range of $505 million to $515 million, representing year-over-year growth of between 36% and 39%. For the full fiscal year, the company is now predicting revenue growth of between 18% and 20%, down from its previously reported outlook of an increase in the range of 20% to 25%.

Copyright © 2023 FashionNetwork.com All rights reserved.