Stitch Fix: Q4 net revenues rise 23 percent, announces expansion to UK

Online personal styling service Stitch Fix, Inc. for its fourth quarter ended July 28, 2018 reported 25 percent increase in active clients to 2.7 million, while net revenue of 318.3 million dollars, rose 23 percent year over year. The company said net income for the quarter was 18.3 million dollars and adjusted EBITDA was 11.1 million dollars, while diluted earnings per share were 0.18 dollar.

“Q4 was another strong quarter for us," said Stitch Fix Founder and CEO, Katrina Lake in a statement, adding, "In our first year as a public company, we have demonstrated our ability to transform the shopping experience while consistently delighting our clients across women’s, men’s and kids. I’m proud of our results, and excited for the future.”

For the full year, the company’s net revenues rose 26 percent to 1.2 billion dollars, net income reached 44.9 million dollars and adjusted EBITDA was 53.6 million dollars, while diluted earnings per share were 0.34 dollar.

The company has also announced its upcoming expansion into the United Kingdom.

"We are pleased to announce our expansion into the UK by the end of fiscal year 2019. We believe our ability to create a uniquely personalized shopping experience is something that will resonate with consumers and brands outside of the US,” added Lake.