Reported Q: Q2 2024 Rev YoY: -13.8% EPS YoY: -57.9% Move: +1.05%
Stitch Fix Inc
SFIX
$4.11 1.05%
Exchange NASDAQ Sector Consumer Cyclical Industry Apparel Retail
Q2 2024
Published: Mar 5, 2024

Company Status Snapshot

Fast view of the latest quarter outcome for SFIX

Reported

Report Date

Mar 5, 2024

Quarter Q2 2024

Revenue

330.40M

YoY: -13.8%

EPS

-0.30

YoY: -57.9%

Market Move

+1.05%

Previous quarter: N/A

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Earnings Highlights

  • Revenue of $330.40M down 13.8% year-over-year
  • EPS of $-0.30 decreased by 57.9% from previous year
  • Gross margin of 39.5%
  • Net income of -35.52M
  • "We delivered second quarter results in line with our outlook on both revenue and adjusted EBITDA." - Matt Baer
SFIX
Company SFIX

Executive Summary

Stitch Fix reported QQ2 2024 net revenue of $330.4 million, down 18% year over year and 9% quarter over quarter, as the company continues its transition from top-line growth to profitability and cash-flow discipline. Management framed the results within a deliberate turnaround plan anchored by three priorities: strengthen the foundation of the business, reimagine the client experience to attract higher lifetime value customers, and develop a longer-term strategy to sustain growth. Despite the revenue decline, Stitch Fix delivered gross margin expansion (43.4% in the quarter, up 250 basis points year over year) driven by product-margin strength, better inventory health, and transportation leverage, alongside ongoing cost management (SG&A reductions amounting to over $370 million since Q3 2022). The company posted a positive adjusted EBITDA of $4.4 million, while free cash flow remained negative at $26.1 million in Q2, reflecting timing of inventory receipts. Management projects a path back to profitability through continued leverage in the cost structure, inventory optimization, and a higher-quality client base. For the full year, Stitch Fix guided revenue between $1.29 billion and $1.32 billion and adjusted EBITDA of $10 million to $20 million, with gross margins around 44% and advertising about 8% of revenue. The tone of the call emphasized a disciplined marketing approach, a stronger private-brand portfolio, a more engaging onboarding experience, and the reinvestment in CRM and data-driven personalization as levers to stabilize and eventually re-accelerate growth. Investors should monitor active-client trends, conversion metrics, marketing ROI, inventory efficiency, and the tempo of the onboarding and customer-engagement initiatives as leading indicators of a return to growth and improved profitability.

Key Performance Indicators

Revenue
Decreasing
330.40M
QoQ: -9.43% | YoY: -13.83%
Gross Profit
Decreasing
130.67M
39.55% margin
QoQ: -17.87% | YoY: -20.16%
Operating Income
Decreasing
-34.96M
QoQ: -21.96% | YoY: -52.45%
Net Income
Decreasing
-35.52M
QoQ: -0.10% | YoY: -62.77%
EPS
Decreasing
-0.30
QoQ: 0.00% | YoY: -57.89%

Revenue Trend

Margin Analysis

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q2 2025 312.11 -0.05 -5.5% View
Q1 2025 318.82 -0.05 -12.6% View
Q4 2024 319.55 -0.30 -15.0% View
Q3 2024 322.73 -0.18 -14.1% View
Q2 2024 330.40 -0.30 -13.8% View