Stitch Fix Inc (SFIX) Q2 Active Clients Grow 31% Y2Y

Revenue grew about 24% year-over-year

Stitch Fix Inc (NASDAQ:SFIX) reported its latest quarterly earnings results, which missed expectations.

Stitch Fix Inc (SFIX)

The online subscription and personal shopping service’s profit reported its second quarter results adjusted earnings came in at 2 cents per shareWhen including a one-time benefit linked to changes in the U.S. tax code, the company earned 7 cents per share, ahead of analysts’ expectations of 6 cents per share.

Revenue came in at $295 million for Stitch Fix as it reaches the halfway point of fiscal 2018, which marked a 24% gain compared to the year-ago quarter, marking the fourth consecutive quarter of revenue growth in the range of 25%. The figure beat the Wall Street consensus estimate  of $292 million, while the company’s active client base grew by 588,000, or 31%, to 2.5 million.

“This quarter also marked the fourth consecutive quarter that we grew net revenue in the range of 25% year-over-year,” said Stitch Fix CEO Katrina Lake in prepared remarks. “In addition to strong momentum across our men’s and women’s categories, we’re excited about the potential of Extras, a new capability that allows us to serve more of our client’s wardrobe, while increasing incremental revenue.”

SFIX stock fell about 3.1% after the bell Monday on the earnings miss.

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