Stitch Fix (SFIX) 7 Dec 202021 Q1 Earnings call transcript

Good day, everyone. Welcome to the Stitch Fix's First Quarter 2021 Earnings Call. Today's call is being recorded. [Operator Instructions] At this time, I'd like to turn the conference over to Mr. David Pearce, Vice President of Investor Relations. sir. ahead, go Please

joining for the fiscal our for discuss XXXX. today the results first us you call on to Thank quarter of

CEO that COO offices. and Joining Lake, CFO. our I Spaulding, call home today's like Interim you and of to remotely also and from mention President; President, me Elizabeth joining Stitch Smith, are Mike would Fix; we're on Founder Katrina today

site. in A We Actual forward-looking our of would We considered cause which be be to everyone our those this shareholder could discussion indication law. on not like statements could this forward-looking financial have posted risks statements. statements today's involve from that section investors.stitchfix.com. our complete results the we also making that on filings should of our webcast today's call, information to results of by the to the to on the future any available review of SEC website, forward-looking with results required can as for be a on will based as differ call link QX the remind IR call differ. uncertainties. We Also and our letter conference our found performance. materially forward-looking factors Please as by to note an except are Reported results the update us statements, disclaim obligation any date. that of on contemplated

are the financial letter not measures will a non-GAAP financial most discuss measures. we website. are comparable call, GAAP for certain IR our be to These on measures shareholder to this in results. substitute Reconciliations GAAP During intended directly our provided non-GAAP the

the this our the over webcast to turn is entirety like replay and its I'd Katrina. available on website in call be will a being to IR now on call call website shortly. this Finally, of

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we share to Before pass to questions, back it exciting more I'll announcement. turn our Katrina to on CFO

Thanks Mike.

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[Operator today Barclays. hear with Ross from first Instructions] Sandler We'll

the Mike, the advertising congrats guidance. on future guys question on congrats your quarter, and expense Hey, My just plans. on first is

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for Ross. thanks question, the Yes,

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client Fix Preview? we've little the Elizabeth, we've that lot side the Of do good side, on of definitely course, seen a And see want new about especially a better. we those bit talk get still to signaled you to ad for about, opportunity trends but business. on

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to of just direct-buy; few. on a Thank a you. with customers new category name colors ways from number two, to I starting by interact the to shop shop had maybe today have product

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& Needham next has with question. Patel our Rick Co

you to Thank out women's the expect products offset this price well. I across a as expect would good have we men's, to evolving categories and any you Mike offering impact more that from brands to and Fix hoping the pressure? potential about was as and call expand Preview going you, forward. upon think AOV assortment can Or you afternoon, of success negative to best should on wishes or affordable particular

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I'll let think this in one. on I jump Elizabeth

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lot site can because using those of and that recommendations, solid information even what information, of right we're all building now. So in of things the with limited of pretty create lot we the we're and with testing optimism million individuals are being a like confidence that lot have we're of not just But clients, have X.X them, preferences benefit a to using we a similar information understand with preferences, have those individual, style leveraging of style that of which we able of our of graphs. active

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is customers. new we're it experience XXXX, seen, of for yet confident of to make a this that, it's be terrific to timing like part that be sure so scaling up really exact the And will that just

to we Bank Deutsche move From Kunal Madhuka.

Thanks for taking the question.

out quick subscribers. a non up it follow rolling to direct-buy Just on the

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just for The non direct question, we so that I'm of is we waiting right? what roll that first your are buy to part before Is out just clear clients?

Yes.

And then the second part of that was?

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actually and example, some -- that so that items a And retailers things some are the of can like of marketing based available, SEO are as you channels, there an suddenly, and lot there in. weren't compete compete

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Baird. from Mark be will today question with final Our Altschwager

luck Mike, to taking chapter. Thanks best and you next for Good afternoon. my of your question,

the you stylist anticipating? really relatively know separately, stylist you to then new hires. the And remarkable So, early your as on space here, short Mike, the margin starting gross about about accelerates about think puts benefits out asks the and takes really the I the let maybe Could with me you scaled quarter potential you're Could pretty some half period. how think speak we about to progress a in and back and levels the significant margin. revenue should maybe that in talk we Katrina of growth have second minus a learnings gross shift

from how quarters? we in about Thanks. opportunities coming Looking a the new the styles thinking should ahead, be productivity these as standpoint, ramp

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add really And high value files the another be way so can value. adding that that's

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for turn any And back at to this like remarks. time, things I'd closing Katrina to

you. joining in for you. you to coming person in quarters. Thank you very or Thank Thank virtually us. all maybe look much. you Thank We seeing forward the even

That does conference. today's conclude all us. for you thank Again, joining