The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Cory Alan Carpenter - JPMorgan Chase & Co, Research Division - Analyst
: Just maybe to start on Freestyle, could you talk about your priorities for Freestyle specifically this year? And are you -- how much of your marketing
spend do you expect to deploy against Freestyle?
And then related to that, last quarter, you made the decision to direct new customer traffic to the fixed flow exclusively. Is that still the case? And
any plans to redirect some of that back to Freestyle in the future?
Question: Simeon Avram Siegel - BMO Capital Markets Equity Research - Analyst
: Sorry if I missed it, but did you say how we should think about the go-forward clients for [RPAC] embedded within the 1Q and full year revenue
guide? And maybe just speak to the comfort in the improvement embedded over the year.
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SEPTEMBER 20, 2022 / 9:00PM, SFIX.OQ - Q4 2022 Stitch Fix Inc Earnings Call
Question: Simeon Avram Siegel - BMO Capital Markets Equity Research - Analyst
: Yes. Yes, just any context. Within the -- you gave the revenue guidance for the first quarter and the full year. So any context on how that breaks
down between price versus clients?
Question: Simeon Avram Siegel - BMO Capital Markets Equity Research - Analyst
: Great. And then just given the strength of the data that you have, are there any learnings between the clients that have lapsed? So is there any --
I don't know if there's age, demographic, shopping tendency like just you guys have a wealth of data. So as you look at the cohorts or you look at
the groups that have peeled off, anything that you can learn from that?
Question: Kunal Madhukar - UBS Investment Bank, Research Division - Analyst
: Let's start with the traffic increase that you talked about. So you said there is a steady improvement in traffic in this back half. Conversion rates also
improved. And yet a couple of things. One is your LTM active client number declined significantly high single digits on a year-over-year basis. And
you are also talking about the average age of the client base has increased, which means you're retaining some of the older customers. So what
am I missing here? You're probably adding more customers and yet you have more older customers, who do you lose? And why is the LTM number
down? And then I have a quick follow-up.
Question: Kunal Madhukar - UBS Investment Bank, Research Division - Analyst
: Got it. And the follow-up is on Freestyle. So Freestyle started in the middle of last fiscal year, effectively. And so if it started virtually from scratch in
the middle of last fiscal year, and maybe had 6 to 9 months of revenue and then it grew 21%. So did it grow from like 4% of total revenue to 10%
of total revenue? Or how big is Freestyle right now?
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