Online styling service Stitch Fix's revenue grew by 29% YoY in Q4 to $571.2M. The company posted a net income of $28M, an improvement from the $44.5M loss it posted a year ago.
- The company now has nearly 4.2 million active clients, an 18% increase YoY.
- Stitch Fix didn't reveal its churn rate but said it was at its lowest level ever.
- Last month, BuzzFeed said one-third (1,500) of its stylists left the company after it announced they wouldn't be allowed to set their own schedules.
- COO Minesh Shah apologized to stylists and said the company would change its policy.
- Stitch Fix shares are down 30.6% year-to-date, and it has a market cap of $3.8B.
- The earnings report is available here.