Stock Monitor: Secoo Holding Post Earnings Reporting
LONDON, UK / ACCESSWIRE / July 9, 2018 / If you want access to our free earnings report on Stitch Fix, Inc. (NASDAQ: SFIX), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=SFIX. The Company reported its financial results on June 07, 2018, for the third quarter of the fiscal year 2018 (Q3 FY18), ended April 28, 2018. The Company exceeded analysts' estimates for revenues and earnings in Q3 FY18. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Earnings Highlights and Summary
For Q3 FY18, Stitch Fix's total revenues reached $316.74 million, reflecting an increase of 29.24% from $245.08 million in Q3 FY17, driven by investments in category expansions, technology, talent, and marketing. The Company's total revenue numbers surpassed analysts' consensus estimates of $306.50 million. The Company had 2.70 million active clients at the end of Q3 FY18, up 30% on a y-o-y basis.
During Q3 FY18, Stitch Fix's cost of goods sold was $178.54 million, 27.81% higher than $139.69 million in Q3 FY17. The Company's gross profit advanced 31.15% to $138.21 million in the reported quarter from $105.38 million in the previous year's same quarter.
During Q3 FY18, Stitch Fix incurred selling, general, and administrative expenses (SG&A) of $128.54 million, up 26.72% from $101.37 million in the comparable period in 2017. The Company had an operating income of $9.75 million in the reported quarter, which was almost 2.43 times the operating income of $4.02 million in Q3 FY17. On a non-GAAP basis, Stitch Fix had adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) of $12.40 million in Q3 FY18, up 104.99% from $6.05 million in Q3 FY17.
Stitch Fix generated a net income and comprehensive income of $9.49 million in Q3 FY18 compared to a net loss and comprehensive loss of $9.56 million in Q3 FY17. The Company had diluted earnings per share (EPS) of $0.09 in the quarter under review compared to a diluted loss per share of $0.38 in the year ago comparable quarter. The Company's reported results for Q3 FY17 included $12.86 million for re-measurement of preferred stock warrant liability. Excluding this special item, the Company's income advanced 187.92% to $9.49 million in Q3 FY18 from $3.30 million in Q3 FY17. Stitch Fix's diluted EPS also increased 200% to $0.09 in Q3 FY18 from $0.03 in Q3 FY17. Market analysts had expected the Company to report diluted EPS of $0.03 for Q3 FY18.
Stitch Fix had total cash and restricted cash of $300.11 million as on April 28, 2018, an increase of 147.23% from $121.39 million as on April 29, 2017.
For the nine months ended April 28, 2018 (9M FY18), Stitch Fix's cash flow from operating activities was $61.50 million, 70.87% higher than $35.99 million in the nine months ended April 29, 2017. The Company had a free cash flow of $49.47 million at the end of 9M FY18 compared to $22.18 million at the end of 9M FY17, reflecting an increase of 123.01%.
Stitch Fix spent $12.03 million on the purchase of property and equipment in 9M FY18, a decrease of 12.89% from $13.81 million in 9M FY17. The Company spent $0.39 million on the repurchase of Class B common stock, related to early exercised options, in 9M FY18 compared to $3.56 million in 9M FY17.
Stock Performance Snapshot
July 06, 2018 - At Friday's closing bell, Stitch Fix's stock surged 12.42%, ending the trading session at $32.41.
Volume traded for the day: 6.01 million shares, which was above the 3-month average volume of 1.64 million shares.
Stock performance in the last month – up 57.10%; previous three-month period – up 47.92%; past six-month period – up 27.80%; and year-to-date – up 25.47%
After last Friday's close, Stitch Fix's market cap was at $2.59 billion.
Price to Earnings (P/E) ratio was at 117.85.
The stock is part of the Services sector, categorized under the Specialty Retail, Other industry. This sector was up 1.0% at the end of the session.
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