Online subscription retailer Stitch Fix, in its second quarterly financial disclosure, showed net revenue up 25 percent for the period ended Jan. 27 to $295.9 million, compared with $237.8 million a year ago. Net income or “comprehensive income” came in at $3.6 million, or 2 cents a diluted share, an increase from net income of $233,000 this time last year, but still relatively little against revenues.
Founder and chief executive officer Katrina Lake during a call with financial analysts touted the quarter as the fourth consecutive one with growth around 25 percent, as well as its recent expansion into innerwear, branded Extras, which she said is set to boost “incremental revenue.” She also revealed that Stitch Fix now has an offering called Style Pass that allows a client unlimited shipments of fashion selections, or “fixes,” for $49 a year. Otherwise, the company offers its $20 “styling fee” for monthly deliveries, which is generally applied to purchases.
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Photographed by Kuba Dabrowski/WWD
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