Interested parties can also access the call … SAN FRANCISCO, March 08, Mar 08, 2021 (GLOBE NEWSWIRE via COMTEX) -- Please visit the Stitch Fix investor relations website at https://investors.stitchfix.com to view the financial results included in the letter to shareholders. The MarketWatch News Department was not involved in the creation of this content. Stitch Fix, Inc.Condensed Consolidated Balance Sheets(Unaudited)(In thousands, except share and per share amounts), Stitch Fix, Inc.Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)(Unaudited) (In thousands, except share and per share amounts), Stitch Fix, Inc.Condensed Consolidated Statements of Cash Flow(Unaudited)(In thousands). A live webcast will be accessible on Stitch Fix's investor relations website at investors.stitchfix.com. free cash flow does not represent the total residual cash flow available for discretionary purposes and does not reflect our future contractual commitments. Stitch Fix is seeking a talented Investor Relations Manager to join our dynamic Finance team, reporting directly to the VP of Investor Relations.You will support and participate in all aspects of Investor Relations, including contributing to quarterly investor work-streams, conducting investor-focused analyses, developing investor messaging, and executing investor events. A client checks out a Fix when she indicates what items she is keeping through our mobile application or on our website. The fundamentals of our business are strong, we continue to expand our service in innovative new ways, and we are excited to continue to deliver on our strategy.". Founded in 2011, the company is headquartered in … These statements involve substantial risks and uncertainties, including risks and uncertainties related to the ongoing COVID-19 pandemic, our responses to the pandemic, the responses of our clients, competitors, suppliers, governmental authorities, and public health officials; our ability to generate sufficient net revenue to offset our costs; the growth of our market and consumer behavior; our ability to acquire, engage, and retain clients; our ability to provide offerings and services that achieve market acceptance; our data science and technology, stylists, operations, marketing initiatives, and other key strategic areas; risks related to our inventory; risks related to our supply chain, sourcing of materials and shipping of merchandise; risks related to international operations; and other risks described in the filings we make with the SEC. Skip hours of browsing and discover pieces curated just for you. Ten years into this journey, I’m even more inspired by … For more information about Stitch Fix, please visit https://www.stitchfix.com. Our service is available for women, men, and kids, and designed to help all our clients look, feel, and be their best selves. Elizabeth Spaulding — President. Katrina Lake — Founder & Chief Executive Officer. You should not rely upon forward-looking statements as predictions of future events. Copyright © 2021 MarketWatch, Inc. All rights reserved. About the Role. Stitch Fix is the personal styling service for men, women & kids that sends handpicked clothing to your door (with free shipping & returns!). What is Stitch Fix? Katrina Lake, Founder and Chief Executive Officer of Stitch Fix, Elizabeth Spaulding, President of Stitch Fix, and Dan Jedda, Chief Financial Officer of Stitch Fix, will host a conference call at 2:00 p.m. Pacific Time today to discuss the Company's financial results and outlook. There are currently no events to display. Stitch Fix Founder and CEO Katrina Lake said, "In Q2, we delivered $504 million in net revenue, reflecting 12% year-over-year growth, and grew our active client count to nearly 3.9 million, reflecting 12% year-over-year growth. Is there a problem with this press release? Contact the source provider Comtex at editorial@comtex.com. We undertake no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law. The following table presents a reconciliation of net income (loss), the most comparable GAAP financial measure, to adjusted EBITDA for each of the periods presented. A live webcast will be accessible on Stitch Fix’s investor relations website at investors.stitchfix.com. Interested parties can also access the call … Education. These non-GAAP financial measures may be different than similarly titled measures used by other companies. Our agents are available between 6am and 6pm Pacific, M-F. A telephonic replay will be available through Monday, March 15, 2021, at 888-203-1112 or 719-457-0820, passcode 9716592. We calculate net revenue per active client based on net revenue over the preceding four fiscal quarters divided by the number of active clients, measured as of the last day of the period. Get started now. Cornell University B.S., Magna Cum Laude. The Company intends to continue to make future announcements of material financial and other information through its investor relations website. You will support and participate in all aspects of Investor Relations, including contributing to quarterly investor work-streams, conducting investor-focused analyses, developing investor messaging, and executing investor events. You can also contact MarketWatch Customer Service via our Customer Center. Stitch Fix is an online personal styling service that is reinventing the shopping experience by delivering one-to-one personalization to our clients through the combination of data science and human judgment. The Company will also, from time to time, disclose this information through press releases, filings with the Securities and Exchange Commission (the "SEC"), conference calls, or webcasts, as required by applicable law. COMTEX_382356256/2471/2021-03-08T16:06:11. SAN FRANCISCO, March 08, 2021 (GLOBE NEWSWIRE) -- Stitch Fix, Inc. (NASDAQ:SFIX), the leading online personal styling service, has released its financial results for the second quarter of fiscal year 2021 ended January 30, 2021, and posted a letter to its shareholders on its investor relations website. These investors, therefore, probably don't want to buy Stitch Fix -- they feel like they've missed the boat. 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. Change in operating assets and liabilities: Operating lease right-of-use assets and liabilities, Net cash provided by (used in) operating activities, Purchases of securities available-for-sale, Maturities of securities available-for-sale, Net cash provided by (used in) investing activities, Proceeds from the exercise of stock options, net, Payments for tax withholding related to vesting of restricted stock units, Net cash provided by (used in) financing activities, Net increase (decrease) in cash and cash equivalents, Cash and cash equivalents at beginning of period, Cash and cash equivalents at end of period, Purchases of property and equipment included in accounts payable and accrued liabilities, Cash flows provided by (used in) operating activities, Cash flows provided by (used in) investing activities, Cash flows provided by (used in) financing activities, Net revenue of $504.1 million, an increase of 12% year over year, Active clients of nearly 3.9 million, an increase of 408,000 or 12% year over year, and 110,000 clients quarter over quarter, Net revenue per active client of $467, a decrease of 7% year over year, Net loss of $21.0 million and diluted loss per share of $0.20. Stitch Fix is seeking a talented Investor Relations Manager to join our dynamic Finance team, reporting directly to the VP of Investor Relations. You will support and participate in all aspects of Investor Relations, including contributing to quarterly investor work-streams, conducting investor-focused analyses, developing investor messaging, and executing investor events. Find clothes you'll actually love! Interested parties can also access the call … Our non-GAAP financial measures should not be considered in isolation from, or as substitutes for, financial information prepared in accordance with GAAP. Stitch Fix is seeking a talented Investor Relations Manager to join our dynamic Finance team, reporting directly to the VP of Investor Relations. At this time, I'd like to turn things over to David Pearce, Vice President of Investor Relations. We believe that adjusted EBITDA is frequently used by investors and securities analysts in their evaluations of companies, and that this supplemental measure facilitates comparisons between companies. Dana Telsey — Telsey Advisory Group — Analyst Net income (loss) attributable to common stockholders: Earnings (loss) per share attributable to common stockholders: Weighted-average shares used to compute earnings (loss) per share attributable to common stockholders: Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Depreciation, amortization, and accretion. Therefore, net revenue per active client for the quarters ended May 2, 2020 and February 1, 2020, includes the impact of the extra week of revenue. CISSP About the Role. Sep 2020 – Present 1 month. The Investor Relations website contains information about Stitch Fix's business for stockholders, potential investors, and financial analysts. Some of these limitations include: We define adjusted EBITDA as net income (loss) excluding interest (income) expense, provision (benefit) for income taxes, other (income) expense, net, depreciation and amortization, and stock-based compensation expense. Stitch Fix is personal styling for men, women & kids that sends clothing to your door (with free shipping & returns). Further information on these and other factors that could cause our financial results, performance, and achievements to differ materially from any results, performance, or achievements anticipated, expressed, or implied by these forward-looking statements is included in filings we make with the SEC from time to time, including in the section titled "Risk Factors" in our Quarterly Report on Form 10-Q for the fiscal quarter ended October 31, 2020. 08, 2021Corporate Participants: David Pearce — Vice President of Investor Relations. adjusted EBITDA excludes interest (income) expense and other (income) expense, net, as these items are not components of our core business; adjusted EBITDA does not reflect our tax provision (benefit), which may increase or decrease cash available to us; adjusted EBITDA excludes the recurring, non-cash expenses of depreciation and amortization of property and equipment and, although these are non-cash expenses, the assets being depreciated and amortized may have to be replaced in the future; adjusted EBITDA excludes the non-cash expense of stock-based compensation, which has been, and will continue to be for the foreseeable future, an important part of how we attract and retain our employees and a significant recurring expense in our business; and. After getting your first Fix, instantly buy what you want, when you want it. Stitch Fix is seeking a talented Investor Relations Manager to join our dynamic Finance team, reporting directly to the VP of Investor Relations. However, management believes that certain non-GAAP financial measures provide users of our financial information with additional useful information in evaluating our performance. We define free cash flow as cash flows provided by (used in) operating activities reduced by purchases of property and equipment that are included in cash flows provided by (used in) investing activities. Get started! The Investor Relations website contains information about Stitch Fix's business for stockholders, potential investors, and financial analysts. The following table presents a reconciliation of cash flows provided by (used in) operating activities, the most comparable GAAP financial measure, to free cash flow for each of the periods presented: (1) Fiscal year 2019 was a 53-week year, with the extra week occurring in the quarter ended August 3, 2019. Cornell University. This press release, the related conference call and webcast, and the letter to shareholders contain forward-looking statements within the meaning of the federal securities laws. If any such risks or uncertainties materialize or if any of the assumptions prove incorrect, our results could differ materially from the results expressed or implied by the forward-looking statements we make. An archive of the webcast conference call will be available shortly after the call ends at https://investors.stitchfix.com. Charlie Munger says bitcoin’s rise ‘disgusting and contrary to interests of civilization’. We create, deliver and work toward a more sustainable and equitable world—inspiring and driving change across our industry and communities through our resources, influence and innovation. Then Instantly buy items curated just for your style. We believe free cash flow is an important metric because it represents a measure of how much cash from operations we have available for discretionary and non-discretionary items after the deduction of capital expenditures. Just Ask the Algorithm, Rebecca Minkoff Teams Up with Stitch Fix on Size-Inclusive Capsule Collection J…. A live webcast will be accessible on Stitch Fix’s investor relations website at investors.stitchfix.com. Please visit the Stitch Fix investor relations website at https://investors.stitchfix.com to view the financial results included in the letter to shareholders. These documents are available on the SEC Filings section of the Investor Relations section of our website at: https://investors.stitchfix.com. Today's conference is being recorded. Stitch Fix, Inc. (NASDAQ: SFIX) Q2 2021 earnings call dated Mar. I take my kids on trips. All statements other than statements of historical fact could be deemed forward looking, including but not limited to statements regarding our expectations for future financial performance, including our profitability and long-term targets; guidance on financial results for the third quarter and full year of 2021; the momentum of our business; the impact of the COVID-19 pandemic on consumer purchasing behavior; the rate of client migration to our offering; the share shift, and forecasted continued shift, to online shopping and our ability to capture market share; that the overall demand for apparel will increase as the broader market normalizes; our expected conversion and retention of new and existing clients; the success of our direct-buy functionality and the timing and plans for its launch to first time clients; that direct buy will help drive greater engagement and fuel client acquisition by unlocking the full addressable apparel market; our ability to respond to cycle time delays; that demand in our Men's offering will improve as we emerge from the COVID-19 pandemic; that investments across our Fix and direct buy offerings will increase the relevance of our service, increase the value we get from clients, expand our addressable market, and allow us to play in the full suite of shopping occasions; that the expansion of direct buy will increase client lifetime values; that investments in product experiences will drive greater personalization, increase wallet share, and enhance lifetime value; our plans to expand our "Fix Preview" initiative and its impact on client conversion rates, client satisfaction, client retention, keep rate and average order value; our newly launched "live styling" experience and whether it will improve client retention and deepen client trust; our plans to grow our styling community and product engineering team; our ability to move to a multi-inventory model and whether such model will allow us to meaningfully expand selection, attract more clients, drive higher demand, and accelerate growth; our ability to leverage our engineering and data science capabilities to drive efficiencies in our business and enhance our ability to personalize our service and offerings; whether our marketing investments and initiatives to create personalized advertising will be effective in acquiring, engaging and retaining clients; our ability to determine optimal marketing and advertising methods; and the resilience of our warehouse network. 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