secwatch.observer — SEC 8-K summary
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Issuer:     Stitch Fix, Inc. (SFIX)
CIK:        0001576942
Form:       8-K
Filed at:   2023-06-06T23:59:59+00:00
Accession:  0001576942-23-000059
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 2.05, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Stitch Fix Q3 revenue down 20% to $395M; announces distribution center closures and UK exit exploration
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- Net revenue $394.9M, down 20% YoY; active clients fell 11% to 3.48M.
- Net loss $21.8M ($0.19 diluted EPS); adjusted EBITDA $10.1M, above guidance.
- Generated $21.9M free cash flow; cash and investments $244M, no debt.
- Closing Bethlehem and Dallas distribution centers; expects $7-10M in cash restructuring charges.
- Exploring exit from UK market in FY24; Q4 guidance revenue $365-375M, adj. EBITDA $0-10M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1576942/000157694223000059/0001576942-23-000059-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1576942/000157694223000059/sfix-20230606.htm
  HTML page:      https://secwatch.observer/filing/0001576942-23-000059

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer