Stock Monitor: Michaels Cos. Post Earnings Reporting
LONDON, UK / ACCESSWIRE / April 19, 2018 / Active-Investors.com has just released a free earnings report on Stitch Fix, Inc. (NASDAQ: SFIX). If you want access to this report 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 March 12, 2018, for the second quarter ended January 27, 2018. The Company exceeded analysts' estimates for revenues and earnings during Q2 FY18. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is currently working on the research report for The Michaels Companies, Inc. (NASDAQ: MIK), which also belongs to the Services sector as the Company Stitch Fix. Do not miss out and become a member today for free to access this upcoming report at:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Stitch Fix most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/'symbol=SFIX
Earnings Highlights and Summary
Stitch Fix's total revenues reached $295.91 million in Q2 FY18, reflecting an increase of 24.45% from $237.78 million in Q2 FY17. The Company's total revenue numbers for the reported quarter surpassed analysts' consensus estimates by $4.66 million. The Company had 2.5 million active clients at the end of Q2 FY18, an increase of 588,000 from the year ago same quarter.
For Q2 FY18, Stitch Fix's cost of goods sold was $168.52 million, 28.59% higher than $131.05 million in Q2 FY17. The Company's gross profit advanced 19.36% to $127.38 million in Q2 FY18 from $106.72 million in Q2 FY17. The Company's gross margin reduced 1.83% to 43.05% in the quarter ended January 27, 2018, from 44.88% in the comparable period of last year.
During Q2 FY18, Stitch Fix incurred selling, general, and administrative expenses (SG&A) of $111.77 million, 5.61% higher than $105.84 million in the corresponding period in 2017. The Company had an operating income of $15.61 million in the reported quarter, which was almost 17.6 times the operating profit of $0.89 million in Q2 FY17.
Stitch Fix generated a net income of $3.64 million in Q2 FY18 compared to $0.23 million in Q2 FY17. The Company reported diluted earnings per share (EPS) of $0.02 in the quarter under review. The reported results for Q2 FY18 included a re-measurement of preferred stock warrant liability and the impact of the recent US Tax Cuts and Jobs Act 2017 (TCJA). On the other hand, the Company's reported results for Q2 FY17 included a re-measurement of preferred stock warrant liability, a compensation expense related to certain stock sales by current and former employees, as well as the tax impact of these non-GAAP adjustments. The Company had a non-GAAP net income of $6.76 million in Q2 FY18 compared to $13.77 million in Q2 FY17. Stitch Fix had a diluted EPS of $0.07 in Q2 FY18 compared to $0.42 in Q2 FY17. This was higher than analysts' consensus estimates of $0.06 per share.
Cash Matters
Stitch Fix had cash and cash equivalents of $266.37 million as on January 27, 2018, an increase of 140.83% from $110.61 million as on July 29, 2017. The Company had total liabilities of $145.31 million as on January 27, 2018, 5.11% lower than $153.12 million as on July 29, 2017.
For the six months ended January 27, 2018 (H1 FY18), Stitch Fix's cash flow from operating activities was $33.74 million, 31.89% lower than $49.53 million for the six months ended January 28, 2017 (H1 FY17). The Company had a free cash flow of $25.50 million at the end of H1 FY18 compared to $38.17 million at the end of H1 FY17.
Stitch Fix spent $8.23 million on the purchase of property and equipment in H1 FY18, a decrease of 27.58% from $11.37 million in H1 FY17.
Stock Performance Snapshot
April 18, 2018 - At Wednesday's closing bell, Stitch Fix's stock declined 1.67%, ending the trading session at $21.17.
Volume traded for the day: 325.28 thousand shares.
Stock performance in the last month - up 6.22%
After yesterday's close, Stitch Fix's market cap was at $2.11 billion.
Price to Earnings (P/E) ratio was at 682.90.
The stock is part of the Services sector, categorized under the Specialty Retail, Other industry. This sector was up 0.9% at the end of the session.
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