Stitch Fix Files 2024 Annual Report

TL;DR

Stitch Fix dropped its 2024 10-K. Check financials for FY ending Aug 3.

AI Summary

Stitch Fix, Inc. filed its 2024 10-K report for the fiscal year ending August 3, 2024. The company, based in San Francisco, CA, operates in the retail catalog and mail-order houses sector. This filing details their financial performance and business operations for the period.

Why It Matters

This 10-K filing provides a comprehensive overview of Stitch Fix's financial health and strategic direction for the past fiscal year, crucial for investors and stakeholders to assess performance.

Risk Assessment

Risk Level: medium — As a publicly traded company in the retail sector, Stitch Fix faces inherent market, operational, and competitive risks detailed within its 10-K filing.

Key Players & Entities

• Stitch Fix, Inc. (company) — Filer of the 10-K
• 20240803 (date) — Fiscal year end date
• 20240925 (date) — Filing date
• 1 MONTGOMERY STREET SUITE 1500 SAN FRANCISCO CA 94104 (address) — Company's business and mailing address
• 415-882-7765 (phone_number) — Company's business phone number

FAQ

Key Financial Figures

• $0.00002 — stered Class A common stock, par value $0.00002 per share SFIX Nasdaq Global Select Mar
• $3.21 — spectively, based on a closing price of $3.21 per share of the registrant's Class A c
• $20 — ms. We charge clients a styling fee of $20 for each Fix, which is credited toward
• $49 — For our Style Pass clients, we charge a $49 annual fee, which provides unlimited st

Filing Documents

• sfix-20240803.htm (10-K) — 1807KB
• q424-ex1013.htm (EX-10.13) — 15KB
• q424-ex1015.htm (EX-10.15) — 10KB
• q424-ex1021.htm (EX-10.21) — 72KB
• q424-ex191.htm (EX-19.1) — 38KB
• q424-ex211.htm (EX-21.1) — 3KB
• q424-ex231.htm (EX-23.1) — 2KB
• q424-ex311.htm (EX-31.1) — 10KB
• q424-ex312.htm (EX-31.2) — 10KB
• q424-ex321.htm (EX-32.1) — 7KB
• image_0.jpg (GRAPHIC) — 11KB
• image_0b.jpg (GRAPHIC) — 10KB
• image_0c.jpg (GRAPHIC) — 113KB
• sfix-20240803_g1.jpg (GRAPHIC) — 484KB
• 0001576942-24-000099.txt ( ) — 11146KB
• sfix-20240803.xsd (EX-101.SCH) — 50KB
• sfix-20240803_cal.xml (EX-101.CAL) — 122KB
• sfix-20240803_def.xml (EX-101.DEF) — 345KB
• sfix-20240803_lab.xml (EX-101.LAB) — 813KB
• sfix-20240803_pre.xml (EX-101.PRE) — 589KB
• sfix-20240803_htm.xml (XML) — 1435KB

Business

Business 4 Item 1A.

Risk Factors

Risk Factors 10 Item 1B. Unresolved Staff Comments 28 Item 1C. Cybersecurity 29 Item 2.

Properties

Properties 29 Item 3.

Legal Proceedings

Legal Proceedings 30 Item 4. Mine Safety Disclosures 30 Part II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 31 Item 6. [Reserved] 32 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 33 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 42 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 43 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 69 Item 9A.

Controls and Procedures

Controls and Procedures 69 Item 9B. Other Information 69

C

Item 9 C . Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 69 Part III Item 10. Directors, Executive Officers and Corporate Governance 70 Item 11.

Executive Compensation

Executive Compensation 70 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 70 Item 13. Certain Relationships and Related Transactions, and Director Independence 70 Item 14. Principal Accounting Fees and Services 70 Part IV Item 15. Exhibits and Financial Statement Schedules 71 Item 16. Form 10-K Summary 73

SIGNATURES

SIGNATURES 74 Unless the context suggests otherwise, references in this Annual Report on Form 10-K (the "Annual Report") to "Stitch Fix," the "Company," "we," "us," and "our" refer to Stitch Fix, Inc. and, where appropriate, its subsidiaries. 3 PART I SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report contains forward-looking statements that involve risks, uncertainties, and assumptions that, if they never materialize or prove incorrect, could cause our results to differ materially from those expressed or implied by such forward-looking statements. The statements contained in this Annual Report that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. Forward-looking statements are often identified by the use of words such as, but not limited to, "anticipate," "believe," "can," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "project," "seek," "should," "target," "will," "would," and similar expressions or variations intended to identify forward-looking statements. These statements are based on the beliefs and assumptions of our management, which are in turn based on information currently available to management. Such forward-looking statements are subject to risks, uncertainties, and other important factors that could cause actual results and the timing of certain events to differ materially from future results expressed or implied by such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in the section titled "Risk Factors" included under Part I, Item 1A below. Furthermore, such forward-looking statements speak only as of the date of this Annual Report. Except as required by law, we undertake no obligation to update any forward-lookin

Business

Item 1. Business. Overview Stitch Fix is the leading online personal styling service that helps people discover the styles they will love that fit perfectly so they always look - and feel - their best. In 2011, Stitch Fix, Inc. ("we," "our," "us," or "the Company") introduced an innovative approach to shopping for clothing and accessories. We were inspired by the opportunity to create a client-first styling experience, offering an alternative to impersonal, time-consuming and inconvenient traditional shopping. For the past 13 years, our business has been grounded in our commitment to developing and fostering client relationships and making people happier and more confident in what they wear. We help our clients discover and define their style. We reduce their anxiety and stress when getting ready in the morning. And, we give them time back in their lives to invest in themselves. We do this through our unique business model that pairs expert Stylists with best-in-class artificial intelligence ("AI") and recommendation algorithms. It is this combination that enables us to help people discover the styles they will love without having to spend hours browsing stores or sifting through endless choices online. Clients engage with us by (1) receiving a curated shipment of items informed by our algorithms and chosen by a Stitch Fix Stylist (a "Fix"); or (2) purchasing directly from our website or mobile app based on an individualized assortment of outfit and item recommendations ("Freestyle"). Clients choose to schedule regular shipments or order a Fix on demand. Then, after receiving a Fix, they can purchase the items they want to keep and return the other items, if any. Since our inception, Stitch Fix has been powered by AI and data science, and we continue to enhance these capabilities. Our rich data set and our proprietary algorithms fuel our business by enhancing the client experience and driving business model efficiencies. For example, we currently leverage AI

View Full Filing

View this 10-K filing on SEC EDGAR