Stitch Fix grows first quarter revenue by 19%
Stitch Fix saw its revenue increase by 19% to $581.2 million in its first quarter.
In the three months to 30 October, the company delivered strong top line revenue growth with continued momentum in its women and kids categories. Net revenue per active customer rose by 12% to $524.
Sales growth in the UK was particularly strong where revenue almost doubled compared to the same period last year
Meanwhile, the company’s net loss came in at $1.8 million as it posted an adjusted EBITDA of $38.2 million.
During the period, the company expanded its Freestyle service to new customers and added 20 new brands including the likes of Adidas, DKNY, Vans and Rag & Bone Footwear,
Stitch Fix chief executive Elizabeth Spaulding said: “These quarterly results reflect a strong performance in our business from both Fix and Freestyle. With the launch of Stitch Fix Freestyle we are expanding and broadening our offering, and we are excited to continue to enhance the experience for clients through the introduction of new product features and expanded merchandise selections, increasing the number of purchase occasions we serve.”
