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Stitch Fix Q3 revenues drop 9 percent

By Prachi Singh

9 Jun 2020


Online personal styling service Stitch Fix, Inc. said its active clients for the third quarter increased by 9 percent to 3.4 million, while net revenue per active client of 498 dollars, increased 6 percent year over year. The company said in a statement that net revenue for the quarter of 371.7 million dollars, decreased 9 percent and the company reported net loss of 33.9 million dollars.

“We are proud of the way our team has responded quickly and thoughtfully to unprecedented challenges over the past several months, and the results we delivered in these extraordinary times,” said Stitch Fix founder and CEO Katrina Lake, adding, “We believe our business model and balance sheet uniquely position us to thrive in retail’s next era, and we’re excited to demonstrate that in the quarters ahead.”

The company’s adjusted EBITDA loss for the quarter was 40.3 million dollars and adjusted EBITDA ex. SBC loss was 20.7 million dollars and diluted loss per share was 33 cents.

Picture:Facebook/Stitch Fix Women