Stitch Fix Inc (NASDAQ:SFIX) reported upbeat earnings for its fourth quarter, while sales missed views.
The San Francisco-based Stitch Fix, which prides itself on being the leading online personal styling service, said active clients totaled 3.2 million, an increase of 18% year over year.
Net revenues were $432.1 million, an increase of 36% year over year. Net income was $7.2 million and adjusted EBITDA of $6.4 million. Diluted earnings per share were $0.07
To quote CEO Katrina Lake, "Q4 was another strong quarter for us, delivering net revenue of $432.1 million, representing 36% year-over-year growth.
"We grew our active clients to 3.2 million, an increase of 18% year over year. For the full year, we grew net revenue 29% year over year to $1.6 billion and captured more of our large addressable client base by adding nearly half a million active clients in 2019.
Stitch Fix, to quote its site, "is reinventing the shopping experience by delivering one-to-one personalization to our clients, through the combination of data science and human judgment.
"Since our founding, we’ve helped millions of men, women, and kids discover and buy what they love through personalized shipments of apparel, shoes, and accessories, hand-selected by Stitch Fix stylists and delivered to our clients’ homes."
SFIX shares faded $2.26, or 11.2%, to $17.81
