- Prachi Singh
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For its second quarter, Stitch Fix, Inc. said active clients reached 3
million, an increase of 18 percent year over year, while net revenue
of 370.3 million dollars, increased by 25 percent year over year. The
company added that net income for the quarter was 12 million dollars and
adjusted EBITDA reached 19.2 million dollars, while diluted earnings per
share were 12 cents.
“Q2 was another strong quarter for us, delivering net revenue of 370.3
million dollars, exceeding our guidance and representing 25 percent
year-over-year growth,” said Stitch Fix Founder and CEO Katrina Lake in a
statement, adding, “Since becoming a public company, we have posted six
consecutive quarters of over 20 percent growth, which demonstrates our
ability to drive consistent business performance.”
“I’m proud that we’re now serving 3 million people across the U.S. and
remain focused on delighting our existing clients and expanding our reach,”
Lake added.
The platform, founded in 2011 by Lake, has announced its plans to launch
the service in the UK by the end of fiscal 2019.
Picture:Facebook/Stitch Fix
