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Stitch Fix, Inc. (NASDAQ: SFIX) has reported a 20% decline in net revenue to $412.1 million for the second quarter of 2023, reflecting difficult macroeconomic conditions and a decline in consumer spending.
The company had a net loss of $0.58 per share in the quarter, compared to a loss of $0.28 per share in the same period last year. Adjusted EBITDA was $3.8 million, compared to $10.1 million in last year’s fiscal quarter.
The number of active clients fell 11% to about 3.57 million in the three months, while net revenue per client fell 6% to $516.
Poor performance and financial projections sent the company’s stock price down after the announcement.
Previous Performance
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