UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended April 29, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-38291 STITCH FIX, INC. (Exact name of registrant as specified in its charter) Delaware 27-5026540 (State or other jurisdiction ...

Financial Data and Key Metrics Changes - Revenue for Q3 2023 was $395 million, down 20% year-over-year and 4% sequentially, but at the high end of guidance [14] - Net active clients declined 11% year-over-year and 3% sequentially to approximately 3.5 million [14] - Adjusted EBITDA for Q3 was $10.1 million, exceeding expectations due to cost savings and tight cost controls [16] - Free cash flow for Q3 was $21.9 million, with a strong balance sheet ending the quarter with over $240 million in cash and no bank debt [16][17] - Gross margins expanded 150 basis points quarter-over-quarter to 42.5% due to improved inventory composition and less promotional activity [57] Business Line Data and Key Metrics Changes - Net inventory at the end of Q3 was $152 million, down 5% quarter-over-quarter and 29% year-over-year, with expectations for further declines in Q4 [15] - The company is focusing on optimizing inventory across a smaller network of warehouses, which is expected to enhance client experience and operational efficiency [8][24] Market Data and Key Metrics Changes - The UK market is being reconsidered, with plans to potentially exit, representing approximately $50 million in annual revenue and negative $15 million in adjusted EBITDA for FY 2023 [26] - The company is experiencing macroeconomic headwinds, particularly in the U.S. and UK, impacting profitability and growth prospects [10][23] Company Strategy and Development Direction - The company is prioritizing profitability and cash flow while investing in personalization and AI to enhance long-term potential [6][7] - A strategic review has led to the decision to close two fulfillment centers, which is expected to yield approximately $15 million in annualized cost savings [9] - The focus is on a "3 node strategy" to optimize inventory and improve service levels across the U.S. [24][25] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about long-term opportunities despite current macroeconomic challenges [36] - The company is committed to enhancing its competitive advantages in personalization and leveraging AI to improve client experiences [28][29] - Management acknowledged the need for a supportive macro environment to drive client growth but believes in the potential for progress regardless of macro conditions [90][124] Other Important Information - The company has completed $135 million in cost savings initiatives in FY 2023, with an additional $50 million expected from proposed initiatives [33] - Advertising spend was 7% of revenue in Q3, with expectations to maintain similar levels in Q4 [58][95] Q&A Session Summary Question: Long-term opportunity and addressable market - Management is optimistic about the long-term opportunity and is focusing on core differentiators, particularly in AI and personalization [36][38] Question: P&L impact from UK market and distribution center closures - The UK market represents around $50 million in revenue with negative EBITDA, and closing distribution centers is expected to save $10 million to $15 million annually [43][65] Question: Trends in active clients and marketing strategies - Active clients are expected to decline in Q4 due to high dormancy, but re-engagement efforts have increased significantly [87][105] Question: Customer behavior and spending patterns - All client cohorts are spending less than in prior years, with higher churn rates observed among Freestyle first clients [135][137] Question: AI investments and competitive landscape - The company is integrating AI into inventory buying processes, which is expected to enhance customer experience and operational efficiency [114][128]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended January 28, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-38291 STITCH FIX, INC. (Exact name of registrant as specified in its charter) Delaware 27-5026540 (State or other jurisdictio ...

Stitch Fix, Inc. (NASDAQ:SFIX) Q2 2023 Earnings Conference Call March 7, 2023 5:00 PM ET Company Participants Hayden Blair - Investor Relations Katrina Lake - Interim Chief Executive Officer Dan Jedda - Chief Financial Officer Conference Call Participants Youssef Squali - Truist Amy Teske - Baird Ed Yruma - Piper Sandler Trevor Young - Barclays Jesse Sobelson - Wells Fargo Blake Anderson - Jefferies David Bellinger - ROTH MKM Tom Nikic - Wedbush Securities Janet Kloppenburg - JJK Research Associates Dana Te ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-38291 STITCH FIX, INC. Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended October 29, 2022 OR (Exact name of registrant as specified in its charter) Delaware 27-5026540 (State or other jurisdictio ...

STITCH FIX December 6, 2022 SAFE HARBOR STATEMENT This presentation is provided for informational purposes only and should not be construed as an offer, commitment, promise or obligation on behalf of Stitch Fix, Inc. ("Stitch Fix" or the "Company") to sell securities or deliver any products, services, functionalities or other features. This presentation contains forward-looking statements within the meaning of the federal securities laws. All statements other than statements of historical fact could be deem ...

Stitch Fix, Inc. (NASDAQ:SFIX) Q1 2023 Earnings Conference Call December 6, 2022 5:00 PM ET Company Participants Hayden Blair - Investor Relations Elizabeth Spaulding - Chief Executive Officer Dan Jedda - Chief Financial Officer Conference Call Participants Youssef Squali - Truist Simeon Siegel - BMO Capital Markets Mark Altschwager - R.W. Baird Edward Yruma - Piper Sandler David Bellinger - MKM Partners Jesse Sobelson - Wells Fargo Tom Nikic - Wedbush Securities Kunal Madhukar - UBS Trevor Young - Barclays ...

Part I [Business](index=5&type=section&id=Item%201.%20Business) Stitch Fix offers personalized online styling services in the US and UK, combining data science and human stylists to deliver curated apparel, shoes, and accessories to approximately 3.8 million active clients as of July 30, 2022 - The company's business model combines data science with human stylists to offer personalized apparel through two main services: "Fix" (personalized shipments) and "Freestyle" (direct-buy recommendations)[19](index=19&type=chunk) - A key competitive advantage is the rich, proprietary dataset collected directly from clients, which fuels algorithms for personalization, demand forecasting, and inventory optimization[22](index=22&type=chunk)[34](index=34&type=chunk) Key Company Statistics (as of July 30, 2022) | Metric | Value | | :--- | :--- | | Active Clients | 3,795,000 | | Total Employees | ~7,920 | | Stylists | >3,430 | | Fulfillment Centers | 7 (6 in US, 1 in UK) | - The company designs its own private labels, called Exclusive Brands, using data science to identify and fill gaps in the market not met by third-party brand partners[59](index=59&type=chunk)[60](index=60&type=chunk) - As of July 30, 2022, **82% of employees** and **56% of the management team** identified as female. The company conducts annual third-party audits to ensure pay equity, reporting no statistically significant pay differences across gender or race[77](index=77&type=chunk)[81](index=81&type=chunk) [Risk Factors](index=13&type=page&id=Item%201A.%20Risk%20Factors) The company faces significant risks across business operations, market conditions, and regulatory compliance, including client acquisition, inventory management, cybersecurity, data privacy, and the impact of its dual-class stock structure - Business growth is highly dependent on attracting new clients cost-effectively. Recent challenges in converting new clients, partly due to the launch of the Freestyle offering and Apple's iOS privacy changes, negatively impacted revenue in fiscal 2022[101](index=101&type=chunk)[102](index=102&type=chunk) - Ineffective inventory management, including inaccurate demand forecasting and supply chain disruptions (freight delays, port congestion), has led to inventory write-offs and could adversely affect operating results[108](index=108&type=chunk)[123](index=123&type=chunk) - The COVID-19 pandemic has caused significant operational disruptions, including fulfillment center closures, hiring difficulties, and supply chain delays, with unpredictable future impacts on the business[109](index=109&type=chunk)[110](index=110&type=chunk)[111](index=111&type=chunk) - The business is subject to data privacy laws like GDPR and CCPA. Failure to comply could result in significant fines, litigation, and reputational damage[170](index=170&type=chunk) - The dual-class stock structure concentrates voting control with executive officers and directors, which may limit the influence of other stockholders and could depress the trading price of Class A common stock[189](index=189&type=chunk) [Unresolved Staff Comments](index=41&type=section&id=Item%201B.%20Unresolved%20Staff%20Comments) The company reports that it has no unresolved staff comments from the U.S. Securities and Exchange Commission (SEC) - There are no unresolved staff comments[203](index=203&type=chunk) [Properties](index=42&type=section&id=Item%202.%20Properties) The company's operations include a San Francisco headquarters and seven fulfillment centers (six in the US, one in the UK) totaling approximately 3.755 million square feet in the US - Corporate headquarters are in San Francisco, CA (approx. **134,000 sq. ft.**)[204](index=204&type=chunk) - Operates six fulfillment centers in the U.S. and one in the UK, totaling approximately **3,755,000 square feet** in the U.S[205](index=205&type=chunk) [Legal Proceedings](index=42&type=section&id=Item%203.%20Legal%20Proceedings) This section incorporates by reference the information on legal proceedings detailed in Note 8, "Commitments and Contingencies," of the Notes to the Consolidated Financial Statements - Information regarding legal proceedings is incorporated by reference from Note 8 of the financial statements[207](index=207&type=chunk) [Mine Safety Disclosures](index=42&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) The company reports that there are no mine safety disclosures applicable to its operations - Not applicable[208](index=208&type=chunk) Part II [Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=42&type=section&id=Item%205.%20Market%20for%20Registrant's%20Common%20Equity,%20Related%20Stockholder%20Matters%20and%20Issuer%20Purchases%20of%20Equity%20Securities) Stitch Fix Class A common stock trades on Nasdaq under "SFIX"; the company has never paid dividends but authorized a $150 million share repurchase program in January 2022, with $120 million remaining as of July 30, 2022 - Class A common stock trades on the Nasdaq Global Select Market under the symbol "SFIX"[210](index=210&type=chunk) - The company has never paid cash dividends and does not intend to in the foreseeable future[212](index=212&type=chunk) - A share repurchase program for up to **$150.0 million** was authorized in January 2022. As of July 30, 2022, **$120.0 million** remained available for repurchases[217](index=217&type=chunk) [Selected Financial Data](index=43&type=section&id=Item%206.%20Selected%20Financial%20Data) Disclosure under this item is not required as per the regulations in effect on the date of this report - No disclosure is required under this item[218](index=218&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=44&type=section&id=Item%207.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) In FY2022, Stitch Fix reported $2.1 billion net revenue (down 1.4%) and a $207.1 million net loss, with active clients declining 8.9% to 3.8 million, prompting a 15% salaried workforce reduction and maintaining strong liquidity Fiscal Year 2022 Key Performance Metrics | Metric | FY 2022 | FY 2021 | YoY Change | | :--- | :--- | :--- | :--- | | Net Revenue | $2.1 billion | $2.1 billion | -1.4% | | Net Loss | $(207.1) million | $(8.9) million | N/A | | Active Clients | 3,795,000 | 4,165,000 | -8.9% | | Net Revenue per Active Client | $546 | $505 | +8.1% | - A restructuring plan was announced on June 9, 2022, which reduced the salaried workforce by approximately **15%** (**4% of total roles**) to lower operating costs amid business challenges and macroeconomic uncertainty[226](index=226&type=chunk)[407](index=407&type=chunk) Adjusted EBITDA Reconciliation (in thousands) | Line Item | FY 2022 | FY 2021 | | :--- | :--- | :--- | | Net loss | $(207,121) | $(8,876) | | Stock-based compensation expense | $127,373 | $100,696 | | Depreciation and amortization | $35,011 | $27,610 | | Restructuring and other one-time costs | $26,206 | $— | | **Adjusted EBITDA** | **$(19,455)** | **$64,945** | - Gross margin decreased by **130 basis points** in FY2022 compared to FY2021, primarily due to increased inventory charges for excess spring and summer inventory[251](index=251&type=chunk) - Selling, General, and Administrative (SG&A) expenses increased by **$105.5 million** in FY2022, driven by higher compensation (including **$27.8 million** more in stock-based compensation) and **$26.2 million** in restructuring costs[252](index=252&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=54&type=section&id=Item%207A.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company faces market risks from interest rates, foreign currency, and inflation, though a hypothetical 10% change in rates or currency would not have materially impacted FY2022 financial statements - Primary market risks include interest rate risk on investments, foreign currency risk from UK operations, and inflation risk on costs[283](index=283&type=chunk)[284](index=284&type=chunk)[285](index=285&type=chunk) - Management believes a hypothetical **10% change** in interest rates or foreign exchange rates would not have materially impacted FY2022 financial statements[283](index=283&type=chunk)[284](index=284&type=chunk) [Financial Statements and Supplementary Data](index=55&type=section&id=Item%208.%20Financial%20Statements%20and%20Supplementary%20Data) This section presents the audited consolidated financial statements for FY2020-2022, including an unqualified opinion from Deloitte & Touche LLP, which identified inventory reserve estimation as a critical audit matter - The independent auditor, Deloitte & Touche LLP, issued an unqualified opinion on the financial statements and the effectiveness of internal control over financial reporting as of July 30, 2022[289](index=289&type=chunk)[290](index=290&type=chunk) - The auditor identified the estimation of the inventory reserve for excess and slow-moving inventory as a Critical Audit Matter due to the subjective judgments involved[297](index=297&type=chunk)[298](index=298&type=chunk) Consolidated Statements of Operations (in thousands) | Line Item | FY 2022 | FY 2021 | FY 2020 | | :--- | :--- | :--- | :--- | | Revenue, net | $2,072,812 | $2,101,258 | $1,711,733 | | Gross profit | $908,474 | $947,636 | $754,210 | | Operating loss | $(208,045) | $(63,361) | $(51,664) | | Net loss | $(207,121) | $(8,876) | $(67,117) | | Diluted loss per share | $(1.90) | $(0.08) | $(0.66) | - Effective August 1, 2021, the company changed its inventory costing method from specific identification to the first-in-first-out (FIFO) method, citing it is preferable, consistent with physical flow, and aligns with industry peers[315](index=315&type=chunk) [Changes in and Disagreements With Accountants on Accounting and Financial Disclosure](index=79&type=section&id=Item%209.%20Changes%20in%20and%20Disagreements%20with%20Accountants%20on%20Accounting%20and%20Financial%20Disclosure) The company reports no changes in or disagreements with its accountants on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure - There were no disagreements with accountants on accounting and financial disclosure[411](index=411&type=chunk) [Controls and Procedures](index=79&type=section&id=Item%209A.%20Controls%20and%20Procedures) Management concluded that both disclosure controls and internal control over financial reporting were effective as of July 30, 2022, following modifications due to a new inventory management system implementation - Management concluded that both disclosure controls and procedures and internal control over financial reporting were effective as of July 30, 2022[413](index=413&type=chunk)[415](index=415&type=chunk) - During the fiscal year, the company implemented a new inventory management system, which resulted in modifications to its internal controls over financial reporting[417](index=417&type=chunk) [Other Information](index=79&type=section&id=Item%209B.%20Other%20Information) There is no other information to be reported in this section - None[419](index=419&type=chunk) Part III [Directors, Executive Officers, Corporate Governance, Compensation, and Principal Accountant Fees](index=80&type=section&id=Items%2010-14) Information required for Items 10 through 14, which cover directors, executive officers, corporate governance, executive compensation, security ownership, related transactions, director independence, and principal accountant fees and services, is incorporated by reference from the company's definitive Proxy Statement for its 2022 Annual Meeting of Stockholders - Information for Items 10, 11, 12, 13, and 14 is incorporated by reference from the 2022 Proxy Statement[421](index=421&type=chunk)[423](index=423&type=chunk)[424](index=424&type=chunk)[425](index=425&type=chunk)[426](index=426&type=chunk) Part IV [Exhibits, Financial Statement Schedules](index=81&type=section&id=Item%2015.%20Exhibits,%20Financial%20Statement%20Schedules) This section provides an index of all exhibits filed, furnished, or incorporated by reference as part of the Annual Report, with financial statements included under Item 8 - This item contains the index of all exhibits filed with the Form 10-K[429](index=429&type=chunk)[430](index=430&type=chunk) [Form 10-K Summary](index=84&type=section&id=Item%2016.%20Form%2010-K%20Summary) There is no Form 10-K summary provided in this report - None[435](index=435&type=chunk)

Stitch Fix, Inc. (NASDAQ:SFIX) Q4 2022 Results Conference Call September 20, 2022 5:00 PM ET Company Participants Hayden Blair - IR Elizabeth Spaulding - CEO Dan Jedda - CFO Conference Call Participants Youssef Squali - Truist Securities Cory Carpenter - JPMorgan Simeon Siegel - BMO Capital Markets Amy Teske - Baird Edward Yruma - Piper Sandler Lauren Schenk - Morgan Stanley David Bellinger - MKM Partners Trevor Young - Barclays Ike Boruchow - Wells Fargo Ashley Helgans - Jefferies Tom Nikic - Wedbush Secur ...

Stitch Fix, Inc. (NASDAQ:SFIX) Q3 2022 Results Conference Call June 9, 2022 5:00 PM ET Company Participants Alexandra Viski-Hanka - IR Elizabeth Spaulding - CEO Dan Jedda - CFO Conference Call Participants Youssef Squali - Truist Securities Trevor Young - Barclays Cory Carpenter - JP Morgan Kunal Madhukar - UBS Lauren Schenk - Morgan Stanley Jesse Sobelson - Wells Fargo Tom Nikic - Wedbush Securities Mark Altschwager - Baird Operator Good day, everyone, and welcome to the Stitch Fix Third Quarter 2022 Earni ...