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HomeBusinessStich Fix Q3 Earnings. Should you Buy, Sell or Hold?

Stich Fix Q3 Earnings. Should you Buy, Sell or Hold?

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Stitch Fix, Inc. (NASDAQ:SFIX), the leading online personal styling  service,  has released its  financial results  for the third quarter of  fiscal  year 2021 ended May  1,  2021.  

 

Stitch  Fix  President  and  incoming  CEO  Elizabeth  Spaulding  said,  “In  Q3  we  delivered  $536  million  in  net  revenue,  reflecting  44%  year-  over-year growth, and grew our active client count to more than 4.1 million, reflecting 20% year-over-year growth and our second  highest quarter-over-quarter active client additions ever. We’re pleased with our performance this quarter and are excited to meet the  needs and enthusiasm of more and more clients as the world continues to reopen and the apparel retail backdrop improves. As we look  ahead,  we  are  inspired  to  be  building  an  ecosystem  of  personalized  shopping  experiences,  designed  with  universal  appeal,  to  meet  every  need and occasion.”  

 

Third  Quarter  Key Metrics  and  Financial Highlights  

  • Net  revenue  of  $535.6  million, an increase  of  44%  year over  year  
  • Active  clients  of  4.1  million,  an  increase  of  689,000  or  20%  year  over  year,  and  234,000  clients  quarter  over  quarter  
  • Net  revenue  per active  client  of  $481,  a decrease  of 3%  year over  year,  and an  increase  of  3% quarter  over  quarter  
  • Net  loss  of  $18.8  million and  diluted loss  per  share  of  $0.18  
  • Adjusted  EBITDA  of  $11.6  million  

Third Quarter  Business  Highlights  

  • Experienced  strong  demand  for  our  Fix  offering  from  first-time  and  reactivated  clients  that  resulted  in  our  second  highest  quarter  over  quarter client additions  on record  
  • Increased  success  rates  both  year  over  year  as  well  as  quarter  over  quarter  across  our  Women’s,  Men’s  and  Kids  categories  
  • Scaled  availability  of  Fix  Preview  to  our  entire  U.K.  client  base  and  to  over  half  of  our  U.S.  clients  with  strong  engagement  and  approximately three  quarters  of clients opting in,  resulting in improved outcomes and  higher  average  order  values  
  • Launched Shop by Category to existing clients, enabling them to easily shop by department, trend or their favorite brands and  enjoy  personalized recommendations  within  each Category  

Financial  Outlook  

Our  financial  outlook  for the  fourth  quarter  and full  year of  fiscal  2021,  which ends  on July  31,  2021,  is  as  follows:  

 

  Q4’21    
Net  Revenue   $540 million –  $550 million   21.8%    24.0%  YoY  growth  
Adjusted  EBITDA   $15  million    $20 million   2.8%    3.6%  margin  

 

 

  FY’21    
Net  Revenue   $2.070  billion –  $2.080  billion   20.9%    21.5%  YoY  growth  
Adjusted  EBITDA   $25  million    $30 million   1.2%    1.4%  margin  

 

CWEB Analysts have initiated a BUY Rating for   Stitch Fix, Inc. (NASDAQ:SFIX) and potential upside of $69 by end of 2021. Net  revenue  of  $535.6  million, an increase  of  44%  year over  year we boost the company reporting in Q4. We believe that Q4 will bring higher profit margin and also increase of revenue compare to Q4 of year earlier.  

 

 

 

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