Stitch Fix Files 10-Q for Q3 2024
Ticker: SFIX · Form: 10-Q · Filed: Jun 5, 2024 · CIK: 1576942
| Field | Detail |
|---|---|
| Company | Stitch Fix, Inc. (SFIX) |
| Form Type | 10-Q |
| Filed Date | Jun 5, 2024 |
| Risk Level | medium |
| Pages | 16 |
| Reading Time | 19 min |
| Key Dollar Amounts | $0.00002 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, retail
Related Tickers: SFIX
TL;DR
Stitch Fix 10-Q filed. Financials for period ending 4/27/24 are in.
AI Summary
Stitch Fix, Inc. filed its 10-Q for the period ending April 27, 2024. The filing details the company's financial performance and position. Key financial data points and operational metrics are presented for the reporting period and comparative periods.
Why It Matters
This filing provides investors and analysts with the latest financial results and operational details for Stitch Fix, enabling informed investment decisions.
Risk Assessment
Risk Level: medium — The company operates in a competitive retail environment and faces risks related to customer acquisition, retention, and inventory management.
Key Players & Entities
- Stitch Fix, Inc. (company) — Filer of the 10-Q
- 20240427 (date) — End of the reporting period
- 20240605 (date) — Filing date
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is April 27, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on June 5, 2024.
What is the company's Central Index Key (CIK)?
Stitch Fix, Inc.'s Central Index Key is 0001576942.
What is the company's fiscal year end?
The company's fiscal year ends on August 3rd (0803).
What is the Standard Industrial Classification (SIC) code for Stitch Fix?
The SIC code for Stitch Fix is 5961, which corresponds to RETAIL-CATALOG & MAIL-ORDER HOUSES.
Filing Stats: 4,790 words · 19 min read · ~16 pages · Grade level 15.7 · Accepted 2024-06-05 16:08:44
Key Financial Figures
- $0.00002 — stered Class A common stock, par value $0.00002 per share SFIX Nasdaq Global Select Mar
Filing Documents
- sfix-20240427.htm (10-Q) — 1417KB
- q324-ex311.htm (EX-31.1) — 10KB
- q324-ex312.htm (EX-31.2) — 10KB
- q324-ex321.htm (EX-32.1) — 7KB
- 0001576942-24-000037.txt ( ) — 7268KB
- sfix-20240427.xsd (EX-101.SCH) — 39KB
- sfix-20240427_cal.xml (EX-101.CAL) — 87KB
- sfix-20240427_def.xml (EX-101.DEF) — 289KB
- sfix-20240427_lab.xml (EX-101.LAB) — 614KB
- sfix-20240427_pre.xml (EX-101.PRE) — 448KB
- sfix-20240427_htm.xml (XML) — 1066KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements (Unaudited)
Item 1. Financial Statements (Unaudited): 3 Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Operations and Comprehensive Loss 4 Condensed Consolidated Statements of Stockholders' Equity 5 Condensed Consolidated Statements of Cash Flow 7 Notes to the Condensed Consolidated Financial Statements 8
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 22
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 30
Controls and Procedures
Item 4. Controls and Procedures 30
OTHER INFORMATION
PART II. OTHER INFORMATION 31
Legal Proceedings
Item 1. Legal Proceedings 31
Risk Factors
Item 1A. Risk Factors 31
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 53
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 53
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 53
Other Information
Item 5. Other Information 53
Exhibits
Item 6. Exhibits 54
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS Stitch Fix, Inc. Condensed Consolidated Balance Sheets (Unaudited) (In thousands, except share and per share amounts) April 27, 2024 July 29, 2023 Assets Current assets: Cash and cash equivalents $ 196,507 $ 239,437 Short-term investments 47,998 18,161 Inventory, net 114,467 130,548 Prepaid expenses and other current assets 25,446 27,692 Current assets, discontinued operations 864 9,623 Total current assets 385,282 425,461 Property and equipment, net 57,636 79,757 Operating lease right-of-use assets 89,099 104,533 Other long-term assets 4,653 2,681 Long-term assets, discontinued operations 294 2,046 Total assets $ 536,964 $ 614,478 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 99,242 $ 96,730 Operating lease liabilities 26,791 28,210 Accrued liabilities 65,009 69,893 Gift card liability 10,013 10,328 Deferred revenue 10,328 11,366 Other current liabilities 8,328 8,802 Current liabilities, discontinued operations 138 12,782 Total current liabilities 219,849 238,111 Operating lease liabilities, net of current portion 105,115 125,418 Other long-term liabilities 3,111 3,639 Total liabilities 328,075 367,168 Commitments and contingencies (Note 6) Stockholders' equity: Class A common stock, $ 0.00002 par value – 2,000,000,000 shares authorized at April 27, 2024 and July 29, 2023; 101,787,809 and 90,217,226 shares issued at April 27, 2024 and July 29, 2023; and 99,485,668 and 90,217,226 shares outstanding at April 27, 2024, and July 29, 2023, respectively 1 1 Class B common stock, $ 0.00002 par value – 100,000,000 shares authorized at April 27, 2024, and July 29, 2023; 22,855,042 and 25,405,020 shares issued and outstanding at April 27, 2024, and July 29, 2023, respectively 1 1 Additional paid-in capital 670,182 615,236 Accumulated other comprehensive income (loss) ( 498 ) 527 Accumulated deficit ( 430,755 ) ( 338,413 ) Treasury stock, at cost – 2,302,141 and 2,302,141