Stitch Fix sees Q3 advertising 8%-9% of revenue

Says expects sequential decline of active clients to continue in the back half of the year. Says expects gross margin to increase in the back half of the year to 44%-45%. Sees FY24 gross margin 44%. Sees FY24 advertising 8% of revenue. Says wants to create more fun and visual experience. Says aligning inventory with demand. Says still expects to be free cash flow positive for the full year. Says expects sequential decline of active clients to continue in the back half of the year. Comments and guidance taken from Q2 earnings conference call.