Categories AlphaGraphs, Consumer, Earnings

Stitch Fix (SFIX) Q2 2023 revenue dips 20%; net loss widens

Stitch Fix, Inc. (NASDAQ: SFIX) has reported a 20% drop in net revenue to $412.1 million for the second quarter of 2023, reflecting the tough macroeconomic conditions and the slowdown in consumer spending.

The company incurred a net loss of $0.58 per share in the quarter, compared to a loss of $0.28 per share in the comparable period of last year. Adjusted EBITDA was $3.8 million, versus $10.1 million in the year-ago fiscal quarter.

The number of active clients decreased by 11% to about 3.57 million during the three-month period, while net revenue per client decreased by 6% to $516.

The weak financial performances and projections led to a sharp fall in the company’s share price soon after the announcement.

Prior Performance

  • Stitch Fix Q1 2023 earnings infographic
  • Stitch Fix Q4 2022 earnings infographic
  • Stitch Fix Q3 2022 earnings infographic
  • Stitch Fix Q2 2022 earnings infographic

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