Stitch Fix Reports Third Quarter FY 2022 Financial Results

Jun 10, 2022 By MarketDepth

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Stitch Fix, Inc. (NASDAQ: SFIX) has announced its financial results for the third quarter of fiscal year 2022 ended April 30th, 2022.  For the third quarter, net revenue amounted to USD 492.9 Million, a 8% fall year over year.  Active clients reached 3,907,000, a shortfall of 200,000 or 5% year over year as net revenue per active client reached USD 553, a 15% rise year over year.

“While third quarter top-line results, as well as active client counts, were largely within our expectations, we know we still have work to do. This quarter we made progress on improving the overall client experience in order to position Stitch Fix for profitable growth and value creation over time. We are encouraged by the activity we are seeing inside the expanded Stitch Fix ecosystem, including our sixth consecutive quarter of revenue per active client growth.”

Stitch Fix CEO Elizabeth Spaulding

Spaulding added, “We strongly believe in our strategy of expanding our established Fix model through the addition of on-demand styling and shopping via Freestyle. Together, this powerful combination addresses the full continuum of personalized shopping needs. Our team is committed to executing our strategy with excellence while thoughtfully and deliberately making the necessary decisions and innovations to drive our business forward.”