Stitch Fix says will reduce marketing in back half of the year

Says retail industry experienced pull forward in Q1, which continues to be more pronounced than expected. Says will reduce marketing in back half of the year. Says advertising was 9% of revenue in Q1. Says for remainder of the year expects advertising to be 5%-6% of revenue, lower due to marketing shift. Says unit and order economics continue to be strong. Says quarter-over-quarter average selling price increased by a few basis points Comments taken from Q1 earnings conference call.