Highlights of Stitch Fix’s (SFIX) Q3 2022 earnings

Stitch Fix, Inc. (NASDAQ: SFIX) has reported a wider net loss for the third quarter of 2022 when the personal styling services company’s revenues declined amid faltering demand.

Third-quarter comprehensive loss widened to $81.7 million or $0.72 per share from $18.8 million or $0.18 per share in the same period of 2021.

The bottom line was negatively impacted by an 8% decrease in revenues to $492.9 million. The company had around 3,907,000 active users at the end of the quarter, which is down 5% from the year-ago period.

Read management/analysts’ comments on quarterly reports

“We strongly believe in our strategy of expanding our established Fix model through the addition of on-demand styling and shopping via Freestyle. Together, this powerful combination addresses the full continuum of personalized shopping needs. Our team is committed to executing our strategy with excellence while thoughtfully and deliberately making the necessary decisions and innovations to drive our business forward,” said Stitch Fix’s CEO Elizabeth Spaulding.