Stitch Fix (SFIX) 10-Q 9 Jun 20 2020 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	May 02, 2020	Jun. 03, 2020
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	May 2, 2020
Document Transition Report	false
Entity File Number	001-38291
Entity Registrant Name	STITCH FIX, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	27-5026540
Entity Address, Address Line One	1 Montgomery Street
Entity Address, Address Line Two	Suite 1500
Entity Address, City or Town	San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94104
City Area Code	415
Local Phone Number	882-7765
Title of 12(b) Security	Class A common stock, par value $0.00002 per share
Trading Symbol	SFIX
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001576942
Current Fiscal Year End Date	--08-01
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Amendment Flag	false
Common Class A
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		57,010,696
Common Class B
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		45,576,828

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	May 02, 2020	Aug. 03, 2019
Current assets:
Cash and cash equivalents	$ 96,840	$ 170,932
Short-term investments	144,744	143,276
Inventory, net	165,077	118,216
Prepaid expenses and other current assets	51,810	49,980
Total current assets	458,471	482,404
Long-term investments	86,919	53,372
Property and equipment, net	64,597	54,888
Operating lease right-of-use assets	134,216	0
Deferred tax assets	34,357	22,175
Other long-term assets	3,069	3,227
Total assets	781,629	616,066
Current liabilities:
Accounts payable	82,890	90,883
Operating lease liabilities	23,066	0
Accrued liabilities	70,667	69,734
Gift card liability	8,894	7,233
Deferred revenue	14,689	11,997
Other current liabilities	3,724	2,784
Total current liabilities	203,930	182,631
Operating lease liabilities, net of current portion	142,568	0
Deferred rent, net of current portion	0	24,439
Other long-term liabilities	12,551	12,996
Total liabilities	359,049	220,066
Commitments and contingencies (Note 6)
Stockholders’ equity:
Additional paid-in capital	327,039	279,511
Accumulated other comprehensive income (loss)	1,515	(187)
Retained earnings	94,024	116,674
Total stockholders’ equity	422,580	396,000
Total liabilities and stockholders’ equity	781,629	616,066
Class A Common Stock
Stockholders’ equity:
Common stock, value	1	1
Class B Common Stock
Stockholders’ equity:
Common stock, value	$ 1	$ 1

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	May 02, 2020	Aug. 03, 2019
Class A Common Stock
Common stock, par value (in dollars per share)	$ 0.00002	$ 0.00002
Common stock, shares authorized (in shares)	2,000,000,000	2,000,000,000
Common stock, shares issued (in shares)	56,922,159	54,551,240
Common stock, shares outstanding (in shares)	56,922,159	54,551,240
Class B Common Stock
Common stock, par value (in dollars per share)	$ 0.00002	$ 0.00002
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	45,954,513	46,846,240
Common stock, shares outstanding (in shares)	45,954,513	46,846,240

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 02, 2020	Apr. 27, 2019	May 02, 2020	Apr. 27, 2019
Income Statement [Abstract]
Revenue, net	$ 371,726	$ 408,893	$ 1,268,325	$ 1,145,409
Cost of goods sold	220,115	224,445	713,225	632,644
Gross profit	151,611	184,448	555,100	512,765
Selling, general, and administrative expenses	197,666	189,015	592,497	491,024
Operating income (loss)	(46,055)	(4,567)	(37,397)	21,741
Interest (income) expense	(1,372)	(1,463)	(4,502)	(4,032)
Other (income) expense, net	569	(391)	1,431	(964)
Income (loss) before income taxes	(45,252)	(2,713)	(34,326)	26,737
Provision (benefit) for income taxes	(11,349)	(9,761)	(11,676)	(2,965)
Net income (loss)	(33,903)	7,048	(22,650)	29,702
Other comprehensive income (loss):
Change in unrealized gain (loss) on available-for-sale securities, net of tax	994	140	1,069	162
Foreign currency translation	(1,773)	(190)	633	(71)
Total other comprehensive income (loss), net of tax	(779)	(50)	1,702	91
Comprehensive income (loss)	(34,682)	6,998	(20,948)	29,793
Net income (loss) attributable to common stockholders:
Basic	(33,903)	7,048	(22,650)	29,681
Diluted	$ (33,903)	$ 7,048	$ (22,650)	$ 29,682
Earnings (loss) per share attributable to common stockholders:
Basic (in dollars per share)	$ (0.33)	$ 0.07	$ (0.22)	$ 0.30
Diluted (in dollars per share)	$ (0.33)	$ 0.07	$ (0.22)	$ 0.29
Weighted-average shares used to compute earnings (loss) per share attributable to common stockholders:
Basic (in shares)	102,650,155	100,301,078	102,084,729	99,619,426
Diluted (in shares)	102,650,155	103,615,159	102,084,729	103,575,702

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	[1]	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings	Retained EarningsCumulative Effect, Period of Adoption, Adjustment	[1]
Increase (Decrease) in Stockholders' Equity
Cumulative effect of adopting accounting standards	$ 315,072	$ 35		$ 2	$ 235,312	$ 0	$ 79,758	$ 35
Stockholders' equity, beginning balance (in shares) at Jul. 28, 2018				98,799,861
Stockholders' equity, beginning balance at Jul. 28, 2018	315,072	35		$ 2	235,312	0	79,758	35
Increase (Decrease) in Stockholders' Equity
Cumulative effect of adopting accounting standards	375,135	$ 35		$ 2	265,547	91	79,758	$ 35
Issuance of common stock upon exercise of stock options (in shares)				1,716,705
Issuance of common stock upon exercise of stock options	9,284				9,284
Issuance of restricted stock units, net of tax withholdings (in shares)				254,565
Issuance of restricted stock units, net of tax withholdings	(4,350)				(4,350)
Vesting of early exercised options	209				209
Stock-based compensation	25,092				25,092
Net income (loss)	29,702						29,702
Other comprehensive income (loss), net of tax	91					91
Stockholders' equity, ending balance (in shares) at Apr. 27, 2019				100,771,131
Stockholders' equity, ending balance at Apr. 27, 2019	375,135			$ 2	265,547	91	109,495
Increase (Decrease) in Stockholders' Equity
Cumulative effect of adopting accounting standards	353,289			$ 2	250,699	141	102,447
Stockholders' equity, beginning balance (in shares) at Jan. 26, 2019				99,908,801
Stockholders' equity, beginning balance at Jan. 26, 2019	353,289			$ 2	250,699	141	102,447
Increase (Decrease) in Stockholders' Equity
Cumulative effect of adopting accounting standards	375,135			$ 2	265,547	91	109,495
Issuance of common stock upon exercise of stock options (in shares)				748,290
Issuance of common stock upon exercise of stock options	7,344				7,344
Vesting of early exercised options	31				31
Issuance of common stock upon settlement of restricted stock units, net of tax withholdings (in shares)				114,040
Issuance of common stock upon settlement of restricted stock units, net of tax withholdings	(2,061)				(2,061)
Stock-based compensation	9,534				9,534
Net income (loss)	7,048						7,048
Other comprehensive income (loss), net of tax	(50)					(50)
Stockholders' equity, ending balance (in shares) at Apr. 27, 2019				100,771,131
Stockholders' equity, ending balance at Apr. 27, 2019	375,135			$ 2	265,547	91	109,495
Increase (Decrease) in Stockholders' Equity
Cumulative effect of adopting accounting standards	375,135			2	265,547	91	109,495
Cumulative effect of adopting accounting standards	396,000			$ 2	279,511	(187)	116,674
Stockholders' equity, beginning balance (in shares) at Aug. 03, 2019				101,397,480
Stockholders' equity, beginning balance at Aug. 03, 2019	396,000			$ 2	279,511	(187)	116,674
Increase (Decrease) in Stockholders' Equity
Cumulative effect of adopting accounting standards	422,580			$ 2	327,039	1,515	94,024
Issuance of common stock upon exercise of stock options (in shares)				764,284
Issuance of common stock upon exercise of stock options	6,236				6,236
Issuance of common stock upon settlement of restricted stock units, net of tax withholdings (in shares)				714,908
Issuance of common stock upon settlement of restricted stock units, net of tax withholdings	(7,884)				(7,884)
Stock-based compensation	49,176				49,176
Net income (loss)	(22,650)						(22,650)
Other comprehensive income (loss), net of tax	1,702					1,702
Stockholders' equity, ending balance (in shares) at May. 02, 2020				102,876,672
Stockholders' equity, ending balance at May. 02, 2020	422,580			$ 2	327,039	1,515	94,024
Increase (Decrease) in Stockholders' Equity
Cumulative effect of adopting accounting standards	438,910			$ 2	308,687	2,294	127,927
Stockholders' equity, beginning balance (in shares) at Feb. 01, 2020				102,444,175
Stockholders' equity, beginning balance at Feb. 01, 2020	438,910			$ 2	308,687	2,294	127,927
Increase (Decrease) in Stockholders' Equity
Cumulative effect of adopting accounting standards	422,580			$ 2	327,039	1,515	94,024
Issuance of common stock upon exercise of stock options (in shares)				137,725
Issuance of common stock upon exercise of stock options	578				578
Issuance of common stock upon settlement of restricted stock units, net of tax withholdings (in shares)				294,772
Issuance of common stock upon settlement of restricted stock units, net of tax withholdings	(2,628)				(2,628)
Stock-based compensation	20,402				20,402
Net income (loss)	(33,903)						(33,903)
Other comprehensive income (loss), net of tax	(779)					(779)
Stockholders' equity, ending balance (in shares) at May. 02, 2020				102,876,672
Stockholders' equity, ending balance at May. 02, 2020	422,580			$ 2	327,039	1,515	94,024
Increase (Decrease) in Stockholders' Equity
Cumulative effect of adopting accounting standards	$ 422,580			$ 2	$ 327,039	$ 1,515	$ 94,024
[1]	See Note 2, Summary of Significant Accounting Policies, of the Notes to the Condensed Consolidated Financial Statements for more details on the cumulative effect of adopting accounting standards.

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flow (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	May 02, 2020	Apr. 27, 2019
Cash Flows from Operating Activities
Net income (loss)	$ (22,650)	$ 29,702
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Deferred income taxes	(12,307)	(3,832)
Inventory reserves	18,383	2,805
Stock-based compensation expense	47,475	23,815
Depreciation, amortization, and accretion	16,264	10,191
Other	615	24
Change in operating assets and liabilities:
Inventory	(65,200)	(27,818)
Prepaid expenses and other assets	(4,481)	(5,969)
Operating lease right-of-use assets and liabilities	1,728	0
Accounts payable	(7,569)	20,083
Accrued liabilities	1,192	18,504
Deferred revenue	2,692	4,288
Gift card liability	1,661	1,251
Other liabilities	1,709	2,164
Net cash provided by (used in) operating activities	(20,488)	75,208
Cash Flows from Investing Activities
Purchases of property and equipment	(18,651)	(24,517)
Purchases of securities available-for-sale	(191,894)	(233,151)
Sales of securities available-for-sale	26,286	2,414
Maturities of securities available-for-sale	132,082	21,500
Net cash used in investing activities	(52,177)	(233,754)
Cash Flows from Financing Activities
Proceeds from the exercise of stock options, net	6,236	9,284
Payments for tax withholding related to vesting of restricted stock units	(7,884)	(4,350)
Net cash provided by (used in) financing activities	(1,648)	4,934
Net increase (decrease) in cash, cash equivalents, and restricted cash	(74,313)	(153,612)
Effect of exchange rate changes on cash	221	(75)
Cash, cash equivalents, and restricted cash at beginning of period	170,932	310,366
Cash, cash equivalents, and restricted cash at end of period	96,840	156,679
Components of Cash, Cash Equivalents, and Restricted Cash
Total cash, cash equivalents, and restricted cash	96,840	156,679
Supplemental Disclosure
Cash paid for income taxes	117	191
Supplemental Disclosure of Non-Cash Investing and Financing Activities:
Purchases of property and equipment included in accounts payable and accrued liabilities	4,338	4,166
Capitalized stock-based compensation	1,701	1,277
Vesting of early exercised options	0	209
Leasehold improvements paid by landlord	$ 7,406	$ 0

Description of Business

Description of Business	9 Months Ended
	May 02, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	Description of Business Stitch Fix, Inc. (“we,” “our,” “us” or “the Company”) delivers one-to-one personalization to our clients through the combination of data science and human judgment. Our stylists hand select items from a broad range of merchandise. Stylists pair their own judgment with our analysis of client and merchandise data to provide a personalized shipment of apparel, shoes, and accessories suited to each client’s needs. We call each of these unique shipments a Fix. After receiving a Fix, our clients purchase the items they want to keep and return the other items. We also offer a direct-buy functionality that allows clients the flexibility of purchasing items outside of a Fix. Through direct buy, clients are offered previously purchased items in different colors, sizes, or prints, as well as a personalized set of algorithmically generated items. No styling fee is charged for direct purchases. We are incorporated in Delaware and have operations in the United States and the United Kingdom. COVID-19 Update We are closely monitoring the effects of the novel coronavirus (“COVID-19”) outbreak, which was declared a global pandemic in March 2020, and its impact on our business, the full extent of which will depend on factors such as the length of time the outbreak continues; how federal, state and local governments are responding; the impact of the crisis on the economy and consumer behavior; and the effect on our clients, employees, vendors, and other partners. As a result of the COVID-19 outbreak, we temporarily closed three of our fulfillment centers, operated at significantly reduced capacity for much of the quarter, and reduced our marketing in light of this reduced capacity. We do not anticipate any impairments with respect to long-lived assets or short-term and long-term investments that would have a material impact on our financial statements. We also believe our financial resources will allow us to manage the impact of COVID-19 on our business operations. We believe our existing cash, cash equivalents, short-term investment balances, and the borrowing available under our senior revolving credit facility, if needed, will be sufficient to meet our working capital and capital expenditure needs for at least the next 12 months. Coronavirus Aid, Relief, and Economic Security Act On March 27, 2020, the U.S. enacted the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), which among other things, provides employer payroll tax credits for wages paid to employees who are unable to work during the COVID-19 outbreak. In addition, the CARES Act permits net operating loss (“NOL”) carryovers and carrybacks to offset 100% of taxable income for tax years beginning before 2021 and allows NOLs incurred in 2018, 2019 and 2020 to be carried back to each of the five preceding taxable years to generate a refund of previously paid income taxes. We provided for an estimated effect of the CARES Act in our financial statements for the period ended May 2, 2020.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	May 02, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation Our fiscal year is a 52-week or 53-week period ending on the Saturday closest to July 31. The fiscal years ending August 1, 2020 (“2020”), and August 3, 2019 (“2019”), consist of 52 weeks and 53 weeks, respectively. The unaudited condensed consolidated financial statements include the accounts of Stitch Fix, Inc. and our wholly owned subsidiaries, and have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) and the requirements of the U.S. Securities and Exchange Commission (the “SEC”) for interim reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by GAAP can be condensed or omitted. These financial statements have been prepared on the same basis as our annual consolidated financial statements and, in the opinion of management, reflect all adjustments, consisting only of normal recurring adjustments, which are necessary for the fair statement of our financial information. These interim results are not necessarily indicative of the results to be expected for the fiscal year ending August 1, 2020, or for any other interim period or for any other future year. All intercompany balances and transactions have been eliminated in consolidation. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the related notes thereto for the fiscal year ended August 3, 2019, included in the Company’s Annual Report on Form 10-K filed with the SEC on October 2, 2019 (the “2019 Annual Report”). Use of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts in our condensed consolidated financial statements and accompanying footnotes. Significant estimates and assumptions are used for inventory, stock-based compensation expense, income taxes, leases, and revenue recognition. Actual results could differ from those estimates and such differences may be material to the condensed consolidated financial statements. We have considered the impact of the COVID-19 pandemic on significant estimates and judgments used in applying accounting policies. While there is a greater degree of uncertainty in applying these judgments in light of this crisis, we believe reasonable estimates have been used in preparing the unaudited condensed consolidated financial statements. Restricted Cash Restricted cash represented cash balances held in segregated accounts collateralizing letters of credit for our leased properties at April 27, 2019 . Short-Term and Long-Term Investments The Company’s short-term and long-term investments have been classified and accounted for as available-for-sale securities. We determine the appropriate classification of our investments at the time of purchase and reevaluate the classification at each balance sheet date. Available-for-sale securities with maturities of 12 months or less are classified as short-term and available-for-sale securities with maturities greater than 12 months are classified as long-term. The Company’s available-for-sale securities are carried at fair value, with unrealized gains and losses, net of taxes, reported within accumulated other comprehensive income (loss) (“AOCI”) in stockholders’ equity, with the exception of unrealized losses believed to be other-than-temporary, which are reported in earnings in the current period, if applicable. There were no other-than-temporary losses recorded for the three and nine months ended May 2, 2020, and April 27, 2019, respectively. The cost of securities sold is based upon the specific identification method. Long-Lived Assets Our long-lived assets are principally comprised of property and equipment and operating lease right-of-use assets. For the period ended May 2, 2020, we considered the economic impact of COVID-19 a triggering event and performed a long-lived asset impairment review. As of May 2, 2020, we have not recorded impairment on our long-lived assets. Foreign Currency The functional currency of our international subsidiary is the local currency. For that subsidiary, we translate assets and liabilities to U.S. dollars using period-end exchange rates, and average monthly exchange rates for revenues, costs, and expenses. We record translation gains and losses in AOCI as a component of stockholders’ equity. Net foreign exchange transaction gains and losses resulting from the conversion of the transaction currency to functional currency are recorded in other income, net in the condensed consolidated statements of operations and comprehensive income. Revenue Recognition We generate revenue primarily from the sale of merchandise in a Fix and, to a lesser extent, from direct purchases. Clients create an online account on our website or mobile app, complete a style profile, and order a Fix or merchandise to be delivered on a specified date. Each Fix represents an offer made by us to the client to purchase merchandise. The client is charged a nonrefundable upfront styling fee before the Fix is shipped. As an alternative to the styling fee, we offer select clients the option to purchase a Style Pass. Style Pass clients pay a nonrefundable annual fee for unlimited Fixes that is credited towards merchandise purchases. If the offer to purchase merchandise is accepted, we charge the client the order amount for the accepted merchandise, net of the upfront styling fee or Style Pass annual fee. For each Fix, acceptance occurs when the client checks out the merchandise on our website or mobile app. We offer a discount to clients who purchase all of the items in the Fix. We recognize revenue through the following steps: (1) identification of the contract, or contracts, with the customer; (2) identification of the performance obligations in the contract; (3) determination of the transaction price; (4) allocation of the transaction price to the performance obligations in the contract; and (5) recognition of revenue when, or as, we satisfy a performance obligation. Both our styling fee and Style Pass arrangements consist of one performance obligation, which is the option to purchase merchandise. The upfront styling fee is not a performance obligation as the styling activity is not distinct within the context of the contract. Similarly, the right to receive multiple options under Style Pass does not provide the customer with material stand-alone value and therefore does not give rise to a separate performance obligation. Both the upfront styling fee and Style Pass annual fee are included in deferred revenue until the performance obligation is satisfied when the client exercises his or her option to purchase merchandise (i.e., upon checkout of a Fix) or when the option(s) to purchase merchandise expire(s). Revenue is recognized when control of the promised goods is transferred to the client. For a Fix, control is transferred when the client accepts or rejects the offer to purchase merchandise. Upon acceptance by purchasing one or more items within the Fix at checkout, the total amount of the order, including the upfront styling fee, is recognized as revenue. If none of the items within the Fix are accepted at checkout, the upfront styling fee is recognized as revenue at that time. The Style Pass annual fee is recognized at the earlier of (i) the time at which a client accepts and applies the Style Pass fee to an offer to purchase merchandise or (ii) upon expiry of the annual period. Under Style Pass arrangements, if a client does not accept any items within the Fix, the annual fee will continue to be deferred until it is applied to a future purchase or upon expiry of the annual period. If a client would like to exchange an item, we recognize revenue at the time the exchanged item is shipped, which coincides with the transfer of control to the customer. For a direct purchase, control is transferred when the item is shipped to the client. We deduct discounts, sales tax, and estimated refunds to arrive at net revenue. Sales tax collected from clients is not considered revenue and is included in accrued liabilities until remitted to the taxing authorities. All shipping and handling costs are accounted for as fulfillment costs in cost of goods sold and as selling, general, and administrative expense (“SG&A”), respectively, and are therefore not evaluated as a separate performance obligation. Discounts are recorded as a reduction to revenue when the order is accepted. We record a refund reserve based on our historical refund patterns. Our refund reserve, which is included in accrued liabilities in the condensed consolidated balance sheets, was $4.3 million and $3.1 million as of May 2, 2020, and August 3, 2019, respectively. The Company has five types of contractual liabilities: (i) cash collections of upfront styling fees, which are included in deferred revenue and are recognized as revenue upon the earlier of application to a merchandise purchase or expiry of the offer, (ii) cash collections of Style Pass annual fees, which are included in deferred revenue and are recognized upon the earlier of application to a merchandise purchase or expiry of the Style Pass annual period, (iii) unredeemed gift cards, which are included in gift card liability and recognized as revenue upon usage or inclusion in gift card breakage estimates, (iv) referral credits, which are included in other current liabilities and are recognized as revenue when used, and (v) cash collections of direct purchases, which are included in deferred revenue and are recognized as revenue upon shipment. We sell gift cards to clients and establish a liability based upon the face value of such gift cards. We reduce the liability and recognize revenue upon usage of the gift card. If a gift card is not used, we will recognize estimated gift card breakage revenue proportionately to customer usage of gift cards over the expected gift card usage period, subject to requirements to remit balances to governmental agencies. All commissions paid to third parties upon issuance of gift cards are recognized in SG&A as incurred, as on average, gift cards are used within a one-year period. Similarly, referral credits that are considered incremental costs of obtaining a contract with a customer are recognized in SG&A when issued, as on average, referral credits are used within a one-year period. Contractual liabilities included in deferred revenue, gift card liability, and other current liabilities were $14.7 million, $8.9 million, and $2.7 million, respectively, at May 2, 2020, and $12.0 million, $7.2 million, and $1.6 million, respectively, at August 3, 2019. During the three months ended May 2, 2020, the Company recognized $0.5 million, $0.3 million, and $0.1 million of revenue previously included in deferred revenue, gift card liability, and other current liabilities, respectively, at August 3, 2019. During the nine months ended May 2, 2020, the Company recognized $11.6 million, $2.4 million, and $0.7 million of revenue previously included in deferred revenue, gift card liability, and other current liabilities, respectively, at August 3, 2019. Deferred revenue related to upfront styling fees totaled $11.2 million as of May 2, 2020, and $9.6 million as of August 3, 2019. Deferred revenue related to Style Pass annual fees totaled $2.6 million as of May 2, 2020, and $2.3 million as of August 3, 2019. Deferred revenue related to direct orders totaled $0.9 million as of May 2, 2020, and $0.1 million as of August 3, 2019. The Company expects deferred revenue for upfront styling fees, direct orders, and Style Pass annual fees to be recognized within one year. On average, gift card liability and other current liabilities are also recognized within one year. Concentration of Credit Risks We are subject to concentrations of credit risk principally from cash and cash equivalents and investment securities. The majority of our cash is held by two financial institutions within the United States. Our cash balances held by these institutions may exceed federally insured limits. The associated risk of concentration for cash is mitigated by banking with credit-worthy institutions. The associated risk of concentration for cash equivalents and investments is mitigated by maintaining a diversified portfolio of highly rated instruments. No client accounted for greater than 10% of total revenue, net for the three and nine months ended May 2, 2020, and April 27, 2019, respectively. Recently Issued Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments . The standard requires entities to use a financial instrument impairment model based on expected losses, known as the current expected credit loss model, rather than incurred losses. Under the new guidance, an entity recognizes an allowance for estimated credit losses upon recognition of the financial instrument. The new guidance also changes the impairment model for available-for-sale debt securities, requiring the use of an allowance to record estimated credit losses and subsequent recoveries. We expect to adopt this standard in our first fiscal quarter of 2021. We are currently evaluating the impact that this standard will have on our consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-15, Intangibles—Goodwill and Other—Internal-use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract . The amendment aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. This standard is effective beginning in our first fiscal quarter of 2021 on a prospective or retrospective basis, with early adoption permitted. We are currently evaluating the impact that this standard will have on our consolidated financial statements. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740) – Simplifying the Accounting for Income Taxes . This update amends and simplifies the accounting for income taxes by eliminating certain exceptions in existing guidance related to performing intraperiod tax allocation, calculating interim period taxes, and recognizing deferred taxes for investments. The update also provides new guidance to reduce complexity in certain areas. This standard is effective beginning in our first fiscal quarter of 2022 with early adoption permitted. We are currently evaluating the impact that this standard will have on our consolidated financial statements. Recently Adopted Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) (“ASU 2016-02”), which requires lessees to record most leases on their balance sheets but recognize the expenses on their income statements in a manner similar to Accounting Standards Codification (“ASC”) 840. ASU 2016-02 states that a lessee would recognize a lease liability for the obligation to make lease payments and a right-of-use asset for the right to use the underlying asset for the lease term. Presentation of leases within the consolidated statements of operations and comprehensive income and consolidated statements of cash flow is generally consistent with prior periods presented under ASC 840. However, this standard resulted in a substantial increase in our long-term assets and liabilities on our consolidated balance sheet. We adopted this standard on August 4, 2019, on a modified retrospective basis through a cumulative-effect adjustment of zero to opening retained earnings. We also elected the package of practical expedients to leases that commenced before the effective date whereby we elected to not reassess the following: (i) whether any expired or existing contracts contain leases; (ii) the lease classification for any expired or existing leases; and (iii) initial direct costs for any existing leases. Upon adoption of ASU 2016-02, we did not record right-of-use assets or lease liabilities for leases with an initial term of 12 months or less. Payments on those leases will be recognized on a straight-line basis through the consolidated statements of operations and comprehensive income over the lease term. We also elected to combine lease and non-lease components on new or modified leases after adoption. Upon adoption on August 4, 2019, we recorded $133.0 million in right-of-use assets, net of $25.7 million previously recorded as deferred rent on our consolidated balance sheets. We also recorded $22.0 million in current operating lease liabilities and $136.7 million in operating lease liabilities, net of current portion. In June 2018, the FASB issued ASU No. 2018-07 , Compensation—Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting (“ASU 2018-07”). Under ASU 2018-07, the accounting for awards issued to nonemployees will be similar to the accounting for employee awards. This includes allowing for the measurement of awards at the grant date and recognition of awards with performance conditions when those conditions are probable, both of which are earlier than under current guidance for nonemployee awards. We adopted this standard in the first quarter of fiscal year 2020. The standard did not have a material impact on our consolidated financial statements. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”), which amended the existing FASB Accounting Standards Codification. ASU 2014-09 establishes a principle for recognizing revenue upon the transfer of promised goods or services to customers, in an amount that reflects the expected consideration received in exchange for those goods or services and also provides guidance on the recognition of costs related to obtaining and fulfilling customer contracts. The new guidance may be applied retrospectively to each prior period presented or retrospectively with the cumulative effect recognized as of the date of adoption (“modified retrospective method”). We adopted the standard in the first quarter of 2019 under the modified retrospective approach. Under the new standard, we recognize estimated gift card breakage revenue proportionately to customer gift card usage over the expected gift card usage period rather than waiting until the likelihood of redemption becomes remote. Further, we recognize revenue related to exchanges upon shipment by us, rather than upon receipt by the customer. In the first quarter of 2019, the Company recorded a cumulative catch-up adjustment resulting in an increase to opening retained earnings, net of tax, of $0.4 million, comprised of the impact of $0.3 million from the change in revenue recognition related to gift cards and $0.1 million from the recognition of exchanges upon shipment. In October 2016, the FASB issued ASU No. 2016-16 , Income Taxes: Intra-Entity Transfers of Assets Other Than Inventory (Topic 740)

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	May 02, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements We disclose and recognize the fair value of our assets and liabilities using a hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date. The guidance establishes three levels of the fair value hierarchy as follows: Level 1 : Inputs are unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date; Level 2 : Inputs are observable, unadjusted quoted prices in active markets for similar assets or liabilities, unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the related assets or liabilities; and Level 3 : Unobservable inputs that are significant to the measurement of the fair value of the assets or liabilities that are supported by little or no market data. Our financial instruments consist of cash and cash equivalents, short-term and long-term investments, accounts payable, and accrued liabilities. At May 2, 2020, and August 3, 2019, the carrying values of cash and cash equivalents, accounts payable, and accrued liabilities approximated fair value due to their short-term maturities. The following table sets forth the amortized cost, gross unrealized gains, gross unrealized losses and fair values of our short-term and long-term investments accounted for as available-for-sale securities as of May 2, 2020, and August 3, 2019: May 2, 2020 August 3, 2019 (in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Financial Assets: Investments: U.S. Treasury securities $ 69,644 $ 713 $ (5) $ 70,352 $ 49,807 $ 100 $ — $ 49,907 Commercial paper 31,154 — — 31,154 29,761 — — 29,761 Asset-backed securities 46,513 397 — 46,910 42,587 145 — 42,732 Corporate bonds 82,633 618 (4) 83,247 73,969 279 — 74,248 Total $ 229,944 $ 1,728 $ (9) $ 231,663 $ 196,124 $ 524 $ — $ 196,648 The following table sets forth the fair value of available-for-sale securities by contractual maturity as of May 2, 2020, and August 3, 2019: May 2, 2020 August 3, 2019 (in thousands) One Year or Less Over One Year Through Five Years Over Five Years Total One Year or Less Over One Year Through Five Years Over Five Years Total Financial Assets: Investments: U.S. Treasury securities $ 45,495 $ 24,857 $ — $ 70,352 $ 44,772 $ 5,135 $ — $ 49,907 Commercial paper 31,154 — — 31,154 29,761 — — 29,761 Asset-backed securities 6,162 40,748 — 46,910 5,412 37,320 — 42,732 Corporate bonds 61,933 21,314 — 83,247 63,331 10,917 — 74,248 Total $ 144,744 $ 86,919 $ — $ 231,663 $ 143,276 $ 53,372 $ — $ 196,648 The following table sets forth our cash equivalents, and short-term and long-term investments accounted for as available-for-sale securities that were measured at fair value on a recurring basis based on the fair value hierarchy as of May 2, 2020, and August 3, 2019: May 2, 2020 August 3, 2019 (in thousands) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Financial Assets: Cash equivalents: Money market funds $ 2,565 $ — $ — $ 2,565 $ 6,427 $ — $ — $ 6,427 U.S. Treasury securities 5,508 — — 5,508 — — — — Commercial paper — — — — — 11,970 — 11,970 Investments: U.S. Treasury securities 70,352 — — 70,352 49,907 — — 49,907 Commercial paper — 31,154 — 31,154 — 29,761 — 29,761 Asset-backed securities — 46,910 — 46,910 — 42,732 — 42,732 Corporate bonds — 83,247 — 83,247 — 74,248 — 74,248 Total $ 78,425 $ 161,311 $ — $ 239,736 $ 56,334 $ 158,711 $ — $ 215,045

Leases

Leases	9 Months Ended
	May 02, 2020
Leases [Abstract]
Leases	Leases On August 4, 2019, we adopted ASU 2016-02. Upon adoption, we recognized operating lease right-of-use assets and operating lease liabilities of $133.0 million and $158.7 million, respectively. As part of this adoption, we elected to not record operating lease right-of-use assets or operating lease liabilities for leases with an initial term of 12 months or less. We also elected to combine lease and non-lease components on all new or modified leases into a single lease component. Our leasing portfolio includes lease arrangements for our corporate offices, fulfillment centers, and, to a lesser extent, equipment. Such leases generally have original lease terms between five The following table includes the components of our rent expense recorded in selling, general, and administrative expense: For the Three Months Ended For the Nine Months Ended (in thousands) May 2, 2020 May 2, 2020 Operating lease cost $ 7,369 $ 21,851 Variable lease costs 1,538 4,486 Short-term lease costs 222 234 Sublease income (391) (1,257) Total $ 8,738 $ 25,314 Certain leases contain variable payments, which are expensed as incurred and not included in our operating lease right-of-use assets and operating lease liabilities. These amounts primarily include payments for maintenance, utilities, taxes, and insurance on our office and fulfillment center leases. Operating lease right-of-use assets and operating lease liabilities are recognized based on the present value of future minimum lease payments at lease commencement. The Company calculates the present value of its leases using an estimated incremental borrowing rate, which requires judgment. Our incremental borrowing rate is determined for each lease using a peer group of companies with similar credit profiles, adjusted for the impact of collateralization and lease term. The following is a schedule by year of the maturities of operating lease liabilities with original terms in excess of one year, as of May 2, 2020: (in thousands) May 2, 2020 Remainder of 2020 $ 7,091 2021 30,909 2022 29,640 2023 27,609 2024 23,745 2025 21,438 Thereafter 58,164 Total undiscounted future minimum lease payments 198,596 Less imputed interest (32,962) Total discounted future minimum lease payments $ 165,634 A schedule of the future minimum rental commitments under our non-cancelable operating lease agreements with an initial or remaining term in excess of one year as of August 3, 2019, in accordance with ASC 840 were as follows: (in thousands) August 3, 2019 2020 $ 27,018 2021 27,680 2022 25,451 2023 23,258 2024 19,696 Thereafter 56,687 Total $ 179,790 The weighted average remaining term for our leases as of May 2, 2020 was 6.9 years. The weighted average discount rate for our leases as of May 2, 2020 was 4.8%. Supplemental cash flow information related to our leases is as follows: For the Nine Months Ended (in thousands) May 2, 2020 Cash paid for amounts included in the measurement of operating lease liabilities $ 24,179 Operating lease right-of-use assets obtained in exchange for operating lease liabilities 150,391 In January 2020, we entered into a ten $19.6 million and a right-of-use asset of $14.0 million .

Accrued Liabilities

Accrued Liabilities	9 Months Ended
	May 02, 2020
Payables and Accruals [Abstract]
Accrued Liabilities	Accrued Liabilities Accrued liabilities consisted of the following: (in thousands) May 2, 2020 August 3, 2019 Compensation and related benefits $ 14,661 $ 9,494 Advertising 9,621 12,922 Sales taxes 4,657 6,956 Shipping and freight 6,213 7,045 Accrued accounts payable 4,171 7,550 Inventory purchases 20,315 15,703 Other 11,029 10,064 Total accrued liabilities $ 70,667 $ 69,734

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	May 02, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Commitments In November 2019, the Company executed an agreement for cloud computing services. The agreement was effective as of November 1, 2019, and continues through October 30, 2022. The Company has a total minimum commitment of $23.5 million with annual commitments ranging from $7.5 million to $8.0 million. Refer to “Note 4 - Leases” for information regarding lease commitments. Contingencies We record a loss contingency when it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. We also disclose material contingencies when we believe a loss is not probable but reasonably possible. Accounting for contingencies requires us to use judgment related to both the likelihood of a loss and the estimate of the amount or range of loss. Although we cannot predict with assurance the outcome of any litigation or tax matters, we do not believe there are currently any such actions that, if resolved unfavorably, would have a material impact on our operating results, financial position, and cash flows. On October 11, 2018, October 26, 2018, November 16, 2018, and December 10, 2018, four putative class action lawsuits alleging violations of the federal securities laws were filed in the U.S. District Court for the Northern District of California, naming as defendants us and certain of our officers. The four lawsuits each make the same allegations of violations of the Securities Exchange Act of 1934, as amended, by us and our officers for allegedly making materially false and misleading statements regarding our active client growth and strategy with respect to television advertising between June 2018 and October 2018. The plaintiffs seek unspecified monetary damages and other relief. The four lawsuits have been consolidated and a lead plaintiff has been appointed. On September 18, 2019, the lead plaintiff in the consolidated class action lawsuits (the “Class Action”) filed a consolidated complaint for violation of the federal securities laws. On October 28, 2019, we and other defendants filed a motion to dismiss the consolidated complaint. The lead plaintiff filed an opposition to the motion to dismiss on December 9, 2019, and we and the other defendants filed our reply in support of our motion to dismiss on December 30, 2019. The court has taken the motion under submission. On December 12, 2018, a derivative action was filed against our directors in the same court, alleging the same violations of securities laws as alleged in the Class Action. The derivative action has been stayed pending the outcome of the motion to dismiss in the Class Action. On December 12, 2019, a second derivative action was filed against our directors in the same court, alleging the same violations of securities laws and breach of fiduciary duties as the other derivative action. The second derivative action has also been stayed pending the outcome of the motion to dismiss in the Class Action. The two derivative actions have been related to each other and to the Class Action, and all the related cases are now proceeding before a single judge in the U.S. District Court for the Northern District of California. There have been no other material changes to our commitments and contingencies as disclosed in our 2019 Annual Report. Indemnifications In the ordinary course of business, we may provide indemnifications of varying scope and terms to vendors, directors, officers and other parties with respect to certain matters. We have not incurred any material costs as a result of such indemnifications and have not accrued any liabilities related to such obligations in our condensed consolidated financial statements.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	May 02, 2020
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) The tables below present the changes in AOCI by component and, if applicable, the reclassifications out of AOCI: Changes in Accumulated Other Comprehensive Income (Loss) (in thousands) Available-for-sale Securities Foreign Currency Translation Total Balance at January 26, 2019 $ 22 $ 119 $ 141 Other comprehensive income (loss) before reclassifications (1) 140 (190) (50) Net change in AOCI 140 (190) (50) Balance at April 27, 2019 $ 162 $ (71) $ 91 Changes in Accumulated Other Comprehensive Income (Loss) (in thousands) Available-for-sale Securities Foreign Currency Translation Total Balance at February 1, 2020 $ 466 $ 1,828 $ 2,294 Other comprehensive income (loss) before reclassifications (1) 995 (1,773) (778) Amounts reclassified from AOCI (1) — (1) Net change in AOCI 994 (1,773) (779) Balance at May 2, 2020 $ 1,460 $ 55 $ 1,515 Changes in Accumulated Other Comprehensive Income (Loss) (in thousands) Available-for-sale Securities Foreign Currency Translation Total Balance at July 28, 2018 $ — $ — $ — Other comprehensive income (loss) before reclassifications (1) 162 (71) 91 Net change in AOCI 162 (71) 91 Balance at April 27, 2019 $ 162 $ (71) $ 91 Changes in Accumulated Other Comprehensive Income (Loss) (in thousands) Available-for-sale Securities Foreign Currency Translation Total Balance at August 3, 2019 $ 391 $ (578) $ (187) Other comprehensive income (loss) before reclassifications (1) 1,072 633 1,705 Amounts reclassified from AOCI (3) — (3) Net change in AOCI 1,069 633 1,702 Balance at May 2, 2020 $ 1,460 $ 55 $ 1,515 (1) The associated income tax effects for gains / losses on available-for-sale securities were $35 and $126 for the three months ended April 27, 2019, and May 2, 2020, respectively, and $48 and $259 for the nine months ended April 27, 2019, and May 2, 2020, respectively.

Stock Based Compensation

Stock Based Compensation	9 Months Ended
	May 02, 2020
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation 2011 Equity Incentive Plan In 2011, we adopted the 2011 Equity Incentive Plan (the “2011 Plan”). The 2011 Plan provided for the grant of stock-based awards to employees, directors, and nonemployees under terms and provisions established by the board of directors. The 2011 Plan allowed for the grant of incentive stock options or nonqualified stock options as well as restricted stock units, restricted stock, and stock appreciation rights. Only incentive and nonqualified stock options were granted under the 2011 Plan. Employee stock option grants generally vest 25% on the first anniversary of the grant date with the remaining options vesting ratably over the next three years. Options generally expire after 10 years. Effective upon our IPO, the 2011 Plan was replaced by the 2017 Incentive Plan. 2017 Incentive Plan In November 2017, our board of directors and stockholders adopted our 2017 Incentive Plan (the “2017 Plan”). The remaining shares available for issuance under the 2011 Plan became reserved for issuance under the 2017 Plan. Our 2017 Plan provides for the grant of Class A incentive stock options to employees, including employees of any parent or subsidiary, and for the grant of nonqualified stock options, stock appreciation rights, restricted stock awards, restricted stock unit awards, performance stock awards, performance cash awards, and other forms of stock awards to employees, directors, and consultants, including employees and consultants of our subsidiaries. The number of shares authorized for issuance under the 2017 Plan was 22,207,698 as of May 2, 2020. 2019 Inducement Plan In October 2019, our board of directors adopted our 2019 Inducement Plan (the “2019 Plan”). Our 2019 Plan provides for the grant of Class A nonqualified stock options and restricted stock unit awards to individuals who satisfy the standards for inducement grants under the relevant Nasdaq Stock Market rules. The number of shares authorized for issuance under the 2019 Plan was 1,750,000 as of May 2, 2020. Stock option activity under the 2011 Plan, 2017 Plan, and 2019 Plan is as follows: Options Outstanding Number of Weighted- Weighted- Aggregate Balance – August 3, 2019 7,070,125 $ 14.48 7.72 $ 73,861 Granted 1,602,670 $ 23.39 Exercised (764,284) $ 8.09 Cancelled (500,803) $ 22.33 Balance – May 2, 2020 7,407,708 $ 16.79 7.59 $ 21,095 The aggregate intrinsic value is the difference between the current fair value of the underlying common stock and the exercise price for in-the-money stock options. The following table summarizes the restricted stock unit (“RSU”) award activity under the 2017 Plan and 2019 Plan: Unvested RSUs Class A Common Stock Weighted- Unvested at August 3, 2019 4,428,845 $ 27.30 Granted 7,032,993 $ 17.01 Vested (714,908) $ 25.14 Forfeited (1,069,114) $ 24.49 Unvested at May 2, 2020 9,677,816 $ 20.30 Stock-Based Compensation Expense Stock-based compensation expense for employees was $19.6 million and $47.5 million for the three and nine months ended May 2, 2020, respectively, and $9.1 million and $23.8 million for the three and nine months ended April 27, 2019, respectively. Stock-based compensation expense is included in selling, general, and administrative expenses in our condensed consolidated statements of operations and comprehensive income. The weighted-average grant date fair value of options granted during the nine months ended May 2, 2020, was $11.35 per share. The weighted-average grant date fair value of options granted during the nine months ended April 27, 2019, was $11.37 per share. As of May 2, 2020, the total unrecognized compensation expense related to unvested options and RSUs, net of estimated forfeitures, was $216.7 million, which we expect to recognize over an estimated weighted average period of 2.8 years. We record stock-based compensation of stock options granted to employees by estimating the fair value of stock-based awards using the Black-Scholes option pricing model and amortizing the fair value of the stock-based awards granted over the applicable vesting period of the awards on a straight-line basis. The fair value of stock options granted to employees was estimated at the grant date using the Black-Scholes option-pricing model with the following assumptions: For the Three Months Ended For the Nine Months Ended May 2, 2020 April 27, 2019 May 2, 2020 April 27, 2019 Expected term (in years) 6.2 - 6.2 6.0 - 6.5 5.5 - 6.2 5.1 - 6.5 Volatility 50.1 % 52.2% 50.1% - 51.2% 41.7% - 52.2% Risk free interest rate 1.4 % 2.6% 1.4% - 1.7% 2.6% - 3.0% Dividend yield — % — % — % — %

Income Taxes

Income Taxes	9 Months Ended
	May 02, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The following table summarizes our effective tax rate from income for the periods presented: For the Three Months Ended For the Nine Months Ended (in thousands) May 2, 2020 April 27, 2019 May 2, 2020 April 27, 2019 Income (loss) before income taxes $ (45,252) $ (2,713) $ (34,326) $ 26,737 Provision (benefit) for income taxes (11,349) (9,761) (11,676) (2,965) Effective tax rate (25.1) % (359.8) % (34.0) % (11.1) % Our effective tax rate for the three and nine months ended May 2, 2020, differs from the federal statutory income tax rate primarily due to the net operating loss carryback provisions of the CARES Act, the effects of income taxed at different rates, the reversal of stock-based compensation expenses, and allowable credits. Our effective tax rate for the three and nine months ended April 27, 2019, differed from the federal statutory income tax rate primarily due to alignment of foreign operations for our business, the benefits of stock-based compensation deductions, allowable credits, certain nondeductible expenses, and state taxes. We continue to monitor the progress of ongoing discussions with tax authorities and the impact, if any, of the expected expiration of the statute of limitations in various taxing jurisdictions.

Earnings (Loss) Per Share Attri

Earnings (Loss) Per Share Attributable to Common Stockholders	9 Months Ended
	May 02, 2020
Earnings Per Share [Abstract]
Earnings (Loss) Per Share Attributable to Common Stockholders	Earnings (Loss) Per Share Attributable to Common Stockholders Basic and diluted earnings (loss) per share attributable to common stockholders is presented in conformity with the two-class method required for participating securities. We consider convertible preferred stock and early exercised share options to be participating securities. In connection with our IPO, we established two classes of authorized common stock: Class A common stock and Class B common stock. As a result, all then-outstanding shares of common stock were converted into shares of Class B common stock upon effectiveness of our IPO. The rights of the holders of Class A and Class B common stock are identical, except with respect to voting, conversion, and transfer rights. Each share of Class A common stock is entitled to one vote per share and each share of Class B common stock is entitled to ten votes per share. Each share of Class B common stock is convertible at any time at the option of the stockholder into one share of Class A common stock. Undistributed earnings allocated to participating securities are subtracted from net income (loss) in determining net income (loss) attributable to common stockholders. Basic net income (loss) per share attributable to common stockholders is computed by dividing the net income (loss) attributable to common stockholders by the weighted-average number of common shares outstanding during the period. All participating securities are excluded from basic weighted-average common shares outstanding. For the calculation of diluted earnings (loss) per share (“EPS”), net income (loss) attributable to common stockholders for basic EPS is adjusted by the effect of dilutive securities. Diluted net income (loss) per share attributable to common stockholders is computed by dividing the net income (loss) attributable to common stockholders by the weighted-average number of common shares outstanding, including all potentially dilutive common shares. The undistributed earnings are allocated based on the contractual participation rights of the Class A and Class B common shares as if the earnings for the year have been distributed. As the liquidation and dividend rights are identical, the undistributed earnings are allocated on a proportionate basis. The computation of the diluted net income (loss) per share of Class A common stock assumes the conversion of Class B common stock, while diluted net income (loss) per share of Class B common stock does not assume the conversion of Class A common stock as Class A common stock is not convertible into Class B common stock. A reconciliation of the numerator and denominator used in the calculation of basic and diluted EPS attributable to common stockholders is as follows: For the Three Months Ended May 2, 2020 April 27, 2019 (in thousands, except share and per share amounts) Class A Class B Class A Class B Numerator: Net income (loss) $ (18,714) $ (15,189) $ 3,286 $ 3,762 Less: undistributed earnings to participating securities — — — — Net income (loss) attributable to common stockholders - basic (18,714) (15,189) 3,286 3,762 Reallocation of undistributed earnings (loss) as a result of conversion of Class B to Class A shares — — 3,762 — Reallocation of undistributed earnings (loss) to Class B shares — — — 45 Net income (loss) attributable to common stockholders - diluted $ (18,714) $ (15,189) $ 7,048 $ 3,807 Denominator: Weighted-average shares of common stock - basic 56,661,027 45,989,128 46,770,816 53,530,262 Conversion of Class B to Class A common shares outstanding — — 53,530,262 — Effect of dilutive stock options and restricted stock units — — 3,314,081 2,492,226 Weighted-average shares of common stock - diluted 56,661,027 45,989,128 103,615,159 56,022,488 Earnings (loss) per share attributable to common stockholders: Basic $ (0.33) $ (0.33) $ 0.07 $ 0.07 Diluted $ (0.33) $ (0.33) $ 0.07 $ 0.07 For the Nine Months Ended May 2, 2020 April 27, 2019 (in thousands, except share and per share amounts) Class A Class B Class A Class B Numerator: Net income (loss) $ (12,370) $ (10,280) $ 12,680 $ 17,022 Less: undistributed earnings to participating securities — — (9) (12) Net income (loss) attributable to common stockholders - basic (12,370) (10,280) 12,671 17,010 Add: adjustments to undistributed earnings to participating securities — — 1 — Reallocation of undistributed earnings as a result of conversion of Class B to Class A shares — — 17,010 — Reallocation of undistributed earnings to Class B shares — — — 236 Net income (loss) attributable to common stockholders - diluted $ (12,370) $ (10,280) $ 29,682 $ 17,246 Denominator: Weighted-average shares of common stock - basic 55,754,290 46,330,439 42,526,494 57,092,932 Conversion of Class B to Class A common shares outstanding — — 57,092,932 — Effect of dilutive stock options and restricted stock units — — 3,956,276 3,086,758 Weighted-average shares of common stock - diluted 55,754,290 46,330,439 103,575,702 60,179,690 Earnings (loss) per share attributable to common stockholders: Basic $ (0.22) $ (0.22) $ 0.30 $ 0.30 Diluted $ (0.22) $ (0.22) $ 0.29 $ 0.29 The following common stock equivalents were excluded from the computation of diluted earnings (loss) per share for the periods presented because including them would have been antidilutive: For the Three Months Ended For the Nine Months Ended May 2, 2020 April 27, 2019 May 2, 2020 April 27, 2019 Restricted stock units 8,625,483 1,563,723 8,027,468 2,378,821 Stock options to purchase Class A common stock 3,064,975 1,456,543 3,002,050 1,425,213 Stock options to purchase Class B common stock 3,751,705 1,200,479 3,745,626 1,047,268 Total 15,442,163 4,220,745 14,775,144 4,851,302

Subsequent Events

Subsequent Events	9 Months Ended
	May 02, 2020
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events California Styling Organization On June 1, 2020, we announced a restructuring plan to eliminate substantially all of our Styling team based in California. In connection with the restructuring plan, we estimate that we will incur approximately $4.0 million to $6.0 million of restructuring and related charges primarily related to employee severance and benefits costs, which we expect to incur through the first quarter of fiscal 2021. Other costs such as relocation assistance are not estimable at this time. Senior Revolving Credit Facility In June 2020, we entered into a credit agreement (the “Credit Agreement”) with Silicon Valley Bank and other lenders, to provide a revolving line of credit of up to $90.0 million, including a letter of credit sub-facility in the aggregate amount of $20.0 million, and a swingline sub-facility in the aggregate amount of $50.0 million. We also have the option to request an incremental facility of up to an additional $60.0 million from one or more of the lenders under the Credit Agreement. Under the terms of the Credit Agreement, revolving loans may be either Eurodollar Loans or ABR Loans. Outstanding Eurodollar Loans incur interest at the Eurodollar Rate, which is defined in the Credit Agreement as LIBOR (or any successor thereto), plus a margin of either 2.25% or 2.50%, depending on usage. Outstanding ABR Loans incur interest at the highest of (a) the Prime Rate, as published by the Wall Street Journal, (b) the federal funds rate in effect for such day plus 0.50%, and (c) the Eurodollar Rate plus 1.00%, in each case plus a margin of either 1.25% or 1.50%, depending on usage. We will be charged a commitment fee of either 0.25% or 0.30% per year, depending on usage, for committed but unused amounts. The Credit Agreement will terminate on June 2, 2021, unless the termination date is extended at the election of the lenders. The Credit Agreement is secured by substantially all of our current and future property, rights, and assets, including, but not limited to, cash, goods, equipment, contractual rights, financial assets, and intangible assets. The Credit Agreement contains covenants limiting our ability to, among other things, dispose of assets, undergo a change in control, merge or consolidate, make acquisitions, incur debt, incur liens, pay dividends, repurchase stock, and make investments, in each case subject to certain exceptions. The Credit Agreement also contains financial covenants requiring us to maintain minimum free cash flow and an adjusted current ratio above specified levels, measured in each case at the end of each fiscal quarter. We were in compliance with all financial covenants as of the date of this filing. The Credit Agreement contains events of default that include, among others, non-payment of principal, interest, or fees, breach of covenants, inaccuracy of representations and warranties, cross defaults to certain other indebtedness, bankruptcy and insolvency events, and material judgments. We will capitalize $0.7 million of issuance costs in connection with the Credit Agreement in the quarter ended August 1, 2020. As of the date of this filing, we do not have any borrowings outstanding under the Credit Agreement.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	May 02, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation Our fiscal year is a 52-week or 53-week period ending on the Saturday closest to July 31. The fiscal years ending August 1, 2020 (“2020”), and August 3, 2019 (“2019”), consist of 52 weeks and 53 weeks, respectively. The unaudited condensed consolidated financial statements include the accounts of Stitch Fix, Inc. and our wholly owned subsidiaries, and have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) and the requirements of the U.S. Securities and Exchange Commission (the “SEC”) for interim reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by GAAP can be condensed or omitted. These financial statements have been prepared on the same basis as our annual consolidated financial statements and, in the opinion of management, reflect all adjustments, consisting only of normal recurring adjustments, which are necessary for the fair statement of our financial information. These interim results are not necessarily indicative of the results to be expected for the fiscal year ending August 1, 2020, or for any other interim period or for any other future year. All intercompany balances and transactions have been eliminated in consolidation. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the related notes thereto for the fiscal year ended August 3, 2019, included in the Company’s Annual Report on Form 10-K filed with the SEC on October 2, 2019 (the “2019 Annual Report”).
Use of Estimates	Use of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts in our condensed consolidated financial statements and accompanying footnotes. Significant estimates and assumptions are used for inventory, stock-based compensation expense, income taxes, leases, and revenue recognition. Actual results could differ from those estimates and such differences may be material to the condensed consolidated financial statements. We have considered the impact of the COVID-19 pandemic on significant estimates and judgments used in applying accounting policies. While there is a greater degree of uncertainty in applying these judgments in light of this crisis, we believe reasonable estimates have been used in preparing the unaudited condensed consolidated financial statements.
Restricted Cash	Restricted Cash Restricted cash represented cash balances held in segregated accounts collateralizing letters of credit for our leased properties at April 27, 2019 .
Short-Term and Long-Term Investments	Short-Term and Long-Term Investments The Company’s short-term and long-term investments have been classified and accounted for as available-for-sale securities. We determine the appropriate classification of our investments at the time of purchase and reevaluate the classification at each balance sheet date. Available-for-sale securities with maturities of 12 months or less are classified as short-term and available-for-sale securities with maturities greater than 12 months are classified as long-term. The Company’s available-for-sale securities are carried at fair value, with unrealized gains and losses, net of taxes, reported within accumulated other comprehensive income (loss) (“AOCI”) in stockholders’ equity, with the exception of unrealized losses believed to be other-than-temporary, which are reported in earnings in the current period, if applicable. There were no other-than-temporary losses recorded for the three and nine months ended May 2, 2020, and April 27, 2019, respectively. The cost of securities sold is based upon the specific identification method.
Foreign Currency	Foreign CurrencyThe functional currency of our international subsidiary is the local currency. For that subsidiary, we translate assets and liabilities to U.S. dollars using period-end exchange rates, and average monthly exchange rates for revenues, costs, and expenses. We record translation gains and losses in AOCI as a component of stockholders’ equity. Net foreign exchange transaction gains and losses resulting from the conversion of the transaction currency to functional currency are recorded in other income, net in the condensed consolidated statements of operations and comprehensive income.
Revenue Recognition	Revenue Recognition We generate revenue primarily from the sale of merchandise in a Fix and, to a lesser extent, from direct purchases. Clients create an online account on our website or mobile app, complete a style profile, and order a Fix or merchandise to be delivered on a specified date. Each Fix represents an offer made by us to the client to purchase merchandise. The client is charged a nonrefundable upfront styling fee before the Fix is shipped. As an alternative to the styling fee, we offer select clients the option to purchase a Style Pass. Style Pass clients pay a nonrefundable annual fee for unlimited Fixes that is credited towards merchandise purchases. If the offer to purchase merchandise is accepted, we charge the client the order amount for the accepted merchandise, net of the upfront styling fee or Style Pass annual fee. For each Fix, acceptance occurs when the client checks out the merchandise on our website or mobile app. We offer a discount to clients who purchase all of the items in the Fix. We recognize revenue through the following steps: (1) identification of the contract, or contracts, with the customer; (2) identification of the performance obligations in the contract; (3) determination of the transaction price; (4) allocation of the transaction price to the performance obligations in the contract; and (5) recognition of revenue when, or as, we satisfy a performance obligation. Both our styling fee and Style Pass arrangements consist of one performance obligation, which is the option to purchase merchandise. The upfront styling fee is not a performance obligation as the styling activity is not distinct within the context of the contract. Similarly, the right to receive multiple options under Style Pass does not provide the customer with material stand-alone value and therefore does not give rise to a separate performance obligation. Both the upfront styling fee and Style Pass annual fee are included in deferred revenue until the performance obligation is satisfied when the client exercises his or her option to purchase merchandise (i.e., upon checkout of a Fix) or when the option(s) to purchase merchandise expire(s). Revenue is recognized when control of the promised goods is transferred to the client. For a Fix, control is transferred when the client accepts or rejects the offer to purchase merchandise. Upon acceptance by purchasing one or more items within the Fix at checkout, the total amount of the order, including the upfront styling fee, is recognized as revenue. If none of the items within the Fix are accepted at checkout, the upfront styling fee is recognized as revenue at that time. The Style Pass annual fee is recognized at the earlier of (i) the time at which a client accepts and applies the Style Pass fee to an offer to purchase merchandise or (ii) upon expiry of the annual period. Under Style Pass arrangements, if a client does not accept any items within the Fix, the annual fee will continue to be deferred until it is applied to a future purchase or upon expiry of the annual period. If a client would like to exchange an item, we recognize revenue at the time the exchanged item is shipped, which coincides with the transfer of control to the customer. For a direct purchase, control is transferred when the item is shipped to the client. We deduct discounts, sales tax, and estimated refunds to arrive at net revenue. Sales tax collected from clients is not considered revenue and is included in accrued liabilities until remitted to the taxing authorities. All shipping and handling costs are accounted for as fulfillment costs in cost of goods sold and as selling, general, and administrative expense (“SG&A”), respectively, and are therefore not evaluated as a separate performance obligation. Discounts are recorded as a reduction to revenue when the order is accepted. We record a refund reserve based on our historical refund patterns. Our refund reserve, which is included in accrued liabilities in the condensed consolidated balance sheets, was $4.3 million and $3.1 million as of May 2, 2020, and August 3, 2019, respectively. The Company has five types of contractual liabilities: (i) cash collections of upfront styling fees, which are included in deferred revenue and are recognized as revenue upon the earlier of application to a merchandise purchase or expiry of the offer, (ii) cash collections of Style Pass annual fees, which are included in deferred revenue and are recognized upon the earlier of application to a merchandise purchase or expiry of the Style Pass annual period, (iii) unredeemed gift cards, which are included in gift card liability and recognized as revenue upon usage or inclusion in gift card breakage estimates, (iv) referral credits, which are included in other current liabilities and are recognized as revenue when used, and (v) cash collections of direct purchases, which are included in deferred revenue and are recognized as revenue upon shipment. We sell gift cards to clients and establish a liability based upon the face value of such gift cards. We reduce the liability and recognize revenue upon usage of the gift card. If a gift card is not used, we will recognize estimated gift card breakage revenue proportionately to customer usage of gift cards over the expected gift card usage period, subject to requirements to remit balances to governmental agencies. All commissions paid to third parties upon issuance of gift cards are recognized in SG&A as incurred, as on average, gift cards are used within a one-year period. Similarly, referral credits that are considered incremental costs of obtaining a contract with a customer are recognized in SG&A when issued, as on average, referral credits are used within a one-year period. Contractual liabilities included in deferred revenue, gift card liability, and other current liabilities were $14.7 million, $8.9 million, and $2.7 million, respectively, at May 2, 2020, and $12.0 million, $7.2 million, and $1.6 million, respectively, at August 3, 2019. During the three months ended May 2, 2020, the Company recognized $0.5 million, $0.3 million, and $0.1 million of revenue previously included in deferred revenue, gift card liability, and other current liabilities, respectively, at August 3, 2019. During the nine months ended May 2, 2020, the Company recognized $11.6 million, $2.4 million, and $0.7 million of revenue previously included in deferred revenue, gift card liability, and other current liabilities, respectively, at August 3, 2019. Deferred revenue related to upfront styling fees totaled $11.2 million as of May 2, 2020, and $9.6 million as of August 3, 2019. Deferred revenue related to Style Pass annual fees totaled $2.6 million as of May 2, 2020, and $2.3 million as of August 3, 2019. Deferred revenue related to direct orders totaled $0.9 million as of May 2, 2020, and $0.1 million as of August 3, 2019.
Concentration of Credit Risks	Concentration of Credit RisksWe are subject to concentrations of credit risk principally from cash and cash equivalents and investment securities. The majority of our cash is held by two financial institutions within the United States. Our cash balances held by these institutions may exceed federally insured limits. The associated risk of concentration for cash is mitigated by banking with credit-worthy institutions. The associated risk of concentration for cash equivalents and investments is mitigated by maintaining a diversified portfolio of highly rated instruments.
Recently Issued/Adopted Accounting Pronouncements and Recently Issued SEC Rules	Recently Issued Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments . The standard requires entities to use a financial instrument impairment model based on expected losses, known as the current expected credit loss model, rather than incurred losses. Under the new guidance, an entity recognizes an allowance for estimated credit losses upon recognition of the financial instrument. The new guidance also changes the impairment model for available-for-sale debt securities, requiring the use of an allowance to record estimated credit losses and subsequent recoveries. We expect to adopt this standard in our first fiscal quarter of 2021. We are currently evaluating the impact that this standard will have on our consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-15, Intangibles—Goodwill and Other—Internal-use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract . The amendment aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. This standard is effective beginning in our first fiscal quarter of 2021 on a prospective or retrospective basis, with early adoption permitted. We are currently evaluating the impact that this standard will have on our consolidated financial statements. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740) – Simplifying the Accounting for Income Taxes . This update amends and simplifies the accounting for income taxes by eliminating certain exceptions in existing guidance related to performing intraperiod tax allocation, calculating interim period taxes, and recognizing deferred taxes for investments. The update also provides new guidance to reduce complexity in certain areas. This standard is effective beginning in our first fiscal quarter of 2022 with early adoption permitted. We are currently evaluating the impact that this standard will have on our consolidated financial statements. Recently Adopted Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) (“ASU 2016-02”), which requires lessees to record most leases on their balance sheets but recognize the expenses on their income statements in a manner similar to Accounting Standards Codification (“ASC”) 840. ASU 2016-02 states that a lessee would recognize a lease liability for the obligation to make lease payments and a right-of-use asset for the right to use the underlying asset for the lease term. Presentation of leases within the consolidated statements of operations and comprehensive income and consolidated statements of cash flow is generally consistent with prior periods presented under ASC 840. However, this standard resulted in a substantial increase in our long-term assets and liabilities on our consolidated balance sheet. We adopted this standard on August 4, 2019, on a modified retrospective basis through a cumulative-effect adjustment of zero to opening retained earnings. We also elected the package of practical expedients to leases that commenced before the effective date whereby we elected to not reassess the following: (i) whether any expired or existing contracts contain leases; (ii) the lease classification for any expired or existing leases; and (iii) initial direct costs for any existing leases. Upon adoption of ASU 2016-02, we did not record right-of-use assets or lease liabilities for leases with an initial term of 12 months or less. Payments on those leases will be recognized on a straight-line basis through the consolidated statements of operations and comprehensive income over the lease term. We also elected to combine lease and non-lease components on new or modified leases after adoption. Upon adoption on August 4, 2019, we recorded $133.0 million in right-of-use assets, net of $25.7 million previously recorded as deferred rent on our consolidated balance sheets. We also recorded $22.0 million in current operating lease liabilities and $136.7 million in operating lease liabilities, net of current portion. In June 2018, the FASB issued ASU No. 2018-07 , Compensation—Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting (“ASU 2018-07”). Under ASU 2018-07, the accounting for awards issued to nonemployees will be similar to the accounting for employee awards. This includes allowing for the measurement of awards at the grant date and recognition of awards with performance conditions when those conditions are probable, both of which are earlier than under current guidance for nonemployee awards. We adopted this standard in the first quarter of fiscal year 2020. The standard did not have a material impact on our consolidated financial statements. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”), which amended the existing FASB Accounting Standards Codification. ASU 2014-09 establishes a principle for recognizing revenue upon the transfer of promised goods or services to customers, in an amount that reflects the expected consideration received in exchange for those goods or services and also provides guidance on the recognition of costs related to obtaining and fulfilling customer contracts. The new guidance may be applied retrospectively to each prior period presented or retrospectively with the cumulative effect recognized as of the date of adoption (“modified retrospective method”). We adopted the standard in the first quarter of 2019 under the modified retrospective approach. Under the new standard, we recognize estimated gift card breakage revenue proportionately to customer gift card usage over the expected gift card usage period rather than waiting until the likelihood of redemption becomes remote. Further, we recognize revenue related to exchanges upon shipment by us, rather than upon receipt by the customer. In the first quarter of 2019, the Company recorded a cumulative catch-up adjustment resulting in an increase to opening retained earnings, net of tax, of $0.4 million, comprised of the impact of $0.3 million from the change in revenue recognition related to gift cards and $0.1 million from the recognition of exchanges upon shipment. In October 2016, the FASB issued ASU No. 2016-16 , Income Taxes: Intra-Entity Transfers of Assets Other Than Inventory (Topic 740)

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	May 02, 2020
Fair Value Disclosures [Abstract]
Schedule of Amortized Cost, Gross Unrealized Gains (Losses) and Fair Value of Available-for-sale Investments	The following table sets forth the amortized cost, gross unrealized gains, gross unrealized losses and fair values of our short-term and long-term investments accounted for as available-for-sale securities as of May 2, 2020, and August 3, 2019: May 2, 2020 August 3, 2019 (in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Financial Assets: Investments: U.S. Treasury securities $ 69,644 $ 713 $ (5) $ 70,352 $ 49,807 $ 100 $ — $ 49,907 Commercial paper 31,154 — — 31,154 29,761 — — 29,761 Asset-backed securities 46,513 397 — 46,910 42,587 145 — 42,732 Corporate bonds 82,633 618 (4) 83,247 73,969 279 — 74,248 Total $ 229,944 $ 1,728 $ (9) $ 231,663 $ 196,124 $ 524 $ — $ 196,648
Schedule of Fair Value of Available-for-sale Securities By Contractual Maturity	The following table sets forth the fair value of available-for-sale securities by contractual maturity as of May 2, 2020, and August 3, 2019: May 2, 2020 August 3, 2019 (in thousands) One Year or Less Over One Year Through Five Years Over Five Years Total One Year or Less Over One Year Through Five Years Over Five Years Total Financial Assets: Investments: U.S. Treasury securities $ 45,495 $ 24,857 $ — $ 70,352 $ 44,772 $ 5,135 $ — $ 49,907 Commercial paper 31,154 — — 31,154 29,761 — — 29,761 Asset-backed securities 6,162 40,748 — 46,910 5,412 37,320 — 42,732 Corporate bonds 61,933 21,314 — 83,247 63,331 10,917 — 74,248 Total $ 144,744 $ 86,919 $ — $ 231,663 $ 143,276 $ 53,372 $ — $ 196,648
Schedule of Short-term and Long-term Investments Accounted for as Available-for-sale Measured at Fair Value on Recurring Basis	The following table sets forth our cash equivalents, and short-term and long-term investments accounted for as available-for-sale securities that were measured at fair value on a recurring basis based on the fair value hierarchy as of May 2, 2020, and August 3, 2019: May 2, 2020 August 3, 2019 (in thousands) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Financial Assets: Cash equivalents: Money market funds $ 2,565 $ — $ — $ 2,565 $ 6,427 $ — $ — $ 6,427 U.S. Treasury securities 5,508 — — 5,508 — — — — Commercial paper — — — — — 11,970 — 11,970 Investments: U.S. Treasury securities 70,352 — — 70,352 49,907 — — 49,907 Commercial paper — 31,154 — 31,154 — 29,761 — 29,761 Asset-backed securities — 46,910 — 46,910 — 42,732 — 42,732 Corporate bonds — 83,247 — 83,247 — 74,248 — 74,248 Total $ 78,425 $ 161,311 $ — $ 239,736 $ 56,334 $ 158,711 $ — $ 215,045

Leases (Tables)

Leases (Tables)	9 Months Ended
	May 02, 2020
Leases [Abstract]
Summary of Lease Components and Supplemental Cash Flows	The following table includes the components of our rent expense recorded in selling, general, and administrative expense: For the Three Months Ended For the Nine Months Ended (in thousands) May 2, 2020 May 2, 2020 Operating lease cost $ 7,369 $ 21,851 Variable lease costs 1,538 4,486 Short-term lease costs 222 234 Sublease income (391) (1,257) Total $ 8,738 $ 25,314 Supplemental cash flow information related to our leases is as follows: For the Nine Months Ended (in thousands) May 2, 2020 Cash paid for amounts included in the measurement of operating lease liabilities $ 24,179 Operating lease right-of-use assets obtained in exchange for operating lease liabilities 150,391
Schedule of Maturities of Operating Lease Liabilities and Future Minimum Rental Commitments	The following is a schedule by year of the maturities of operating lease liabilities with original terms in excess of one year, as of May 2, 2020: (in thousands) May 2, 2020 Remainder of 2020 $ 7,091 2021 30,909 2022 29,640 2023 27,609 2024 23,745 2025 21,438 Thereafter 58,164 Total undiscounted future minimum lease payments 198,596 Less imputed interest (32,962) Total discounted future minimum lease payments $ 165,634 A schedule of the future minimum rental commitments under our non-cancelable operating lease agreements with an initial or remaining term in excess of one year as of August 3, 2019, in accordance with ASC 840 were as follows: (in thousands) August 3, 2019 2020 $ 27,018 2021 27,680 2022 25,451 2023 23,258 2024 19,696 Thereafter 56,687 Total $ 179,790

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	9 Months Ended
	May 02, 2020
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities	Accrued liabilities consisted of the following: (in thousands) May 2, 2020 August 3, 2019 Compensation and related benefits $ 14,661 $ 9,494 Advertising 9,621 12,922 Sales taxes 4,657 6,956 Shipping and freight 6,213 7,045 Accrued accounts payable 4,171 7,550 Inventory purchases 20,315 15,703 Other 11,029 10,064 Total accrued liabilities $ 70,667 $ 69,734

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	May 02, 2020
Equity [Abstract]
Changes in Accumulated Other Comprehensive Loss By Component	The tables below present the changes in AOCI by component and, if applicable, the reclassifications out of AOCI: Changes in Accumulated Other Comprehensive Income (Loss) (in thousands) Available-for-sale Securities Foreign Currency Translation Total Balance at January 26, 2019 $ 22 $ 119 $ 141 Other comprehensive income (loss) before reclassifications (1) 140 (190) (50) Net change in AOCI 140 (190) (50) Balance at April 27, 2019 $ 162 $ (71) $ 91 Changes in Accumulated Other Comprehensive Income (Loss) (in thousands) Available-for-sale Securities Foreign Currency Translation Total Balance at February 1, 2020 $ 466 $ 1,828 $ 2,294 Other comprehensive income (loss) before reclassifications (1) 995 (1,773) (778) Amounts reclassified from AOCI (1) — (1) Net change in AOCI 994 (1,773) (779) Balance at May 2, 2020 $ 1,460 $ 55 $ 1,515 Changes in Accumulated Other Comprehensive Income (Loss) (in thousands) Available-for-sale Securities Foreign Currency Translation Total Balance at July 28, 2018 $ — $ — $ — Other comprehensive income (loss) before reclassifications (1) 162 (71) 91 Net change in AOCI 162 (71) 91 Balance at April 27, 2019 $ 162 $ (71) $ 91 Changes in Accumulated Other Comprehensive Income (Loss) (in thousands) Available-for-sale Securities Foreign Currency Translation Total Balance at August 3, 2019 $ 391 $ (578) $ (187) Other comprehensive income (loss) before reclassifications (1) 1,072 633 1,705 Amounts reclassified from AOCI (3) — (3) Net change in AOCI 1,069 633 1,702 Balance at May 2, 2020 $ 1,460 $ 55 $ 1,515 (1) The associated income tax effects for gains / losses on available-for-sale securities were $35 and $126 for the three months ended April 27, 2019, and May 2, 2020, respectively, and $48 and $259 for the nine months ended April 27, 2019, and May 2, 2020, respectively.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	May 02, 2020
Share-based Payment Arrangement [Abstract]
Summary of Stock Option Activity Under 2011 and 2017 Stock Plan	Stock option activity under the 2011 Plan, 2017 Plan, and 2019 Plan is as follows: Options Outstanding Number of Weighted- Weighted- Aggregate Balance – August 3, 2019 7,070,125 $ 14.48 7.72 $ 73,861 Granted 1,602,670 $ 23.39 Exercised (764,284) $ 8.09 Cancelled (500,803) $ 22.33 Balance – May 2, 2020 7,407,708 $ 16.79 7.59 $ 21,095
Summary of Restricted Stock Units Award Activity	The following table summarizes the restricted stock unit (“RSU”) award activity under the 2017 Plan and 2019 Plan: Unvested RSUs Class A Common Stock Weighted- Unvested at August 3, 2019 4,428,845 $ 27.30 Granted 7,032,993 $ 17.01 Vested (714,908) $ 25.14 Forfeited (1,069,114) $ 24.49 Unvested at May 2, 2020 9,677,816 $ 20.30
Summary of Assumptions Used in Black-Scholes Option-Pricing Model to Determine Fair Value of Stock Options	The fair value of stock options granted to employees was estimated at the grant date using the Black-Scholes option-pricing model with the following assumptions: For the Three Months Ended For the Nine Months Ended May 2, 2020 April 27, 2019 May 2, 2020 April 27, 2019 Expected term (in years) 6.2 - 6.2 6.0 - 6.5 5.5 - 6.2 5.1 - 6.5 Volatility 50.1 % 52.2% 50.1% - 51.2% 41.7% - 52.2% Risk free interest rate 1.4 % 2.6% 1.4% - 1.7% 2.6% - 3.0% Dividend yield — % — % — % — %

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	May 02, 2020
Income Tax Disclosure [Abstract]
Schedule of Effective Tax Rate from Income	The following table summarizes our effective tax rate from income for the periods presented: For the Three Months Ended For the Nine Months Ended (in thousands) May 2, 2020 April 27, 2019 May 2, 2020 April 27, 2019 Income (loss) before income taxes $ (45,252) $ (2,713) $ (34,326) $ 26,737 Provision (benefit) for income taxes (11,349) (9,761) (11,676) (2,965) Effective tax rate (25.1) % (359.8) % (34.0) % (11.1) %

Earnings (Loss) Per Share Att_2

Earnings (Loss) Per Share Attributable to Common Stockholders (Tables)	9 Months Ended
	May 02, 2020
Earnings Per Share [Abstract]
Reconciliation of Numerator and Denominator Used in Calculation of Basic and Diluted EPS	A reconciliation of the numerator and denominator used in the calculation of basic and diluted EPS attributable to common stockholders is as follows: For the Three Months Ended May 2, 2020 April 27, 2019 (in thousands, except share and per share amounts) Class A Class B Class A Class B Numerator: Net income (loss) $ (18,714) $ (15,189) $ 3,286 $ 3,762 Less: undistributed earnings to participating securities — — — — Net income (loss) attributable to common stockholders - basic (18,714) (15,189) 3,286 3,762 Reallocation of undistributed earnings (loss) as a result of conversion of Class B to Class A shares — — 3,762 — Reallocation of undistributed earnings (loss) to Class B shares — — — 45 Net income (loss) attributable to common stockholders - diluted $ (18,714) $ (15,189) $ 7,048 $ 3,807 Denominator: Weighted-average shares of common stock - basic 56,661,027 45,989,128 46,770,816 53,530,262 Conversion of Class B to Class A common shares outstanding — — 53,530,262 — Effect of dilutive stock options and restricted stock units — — 3,314,081 2,492,226 Weighted-average shares of common stock - diluted 56,661,027 45,989,128 103,615,159 56,022,488 Earnings (loss) per share attributable to common stockholders: Basic $ (0.33) $ (0.33) $ 0.07 $ 0.07 Diluted $ (0.33) $ (0.33) $ 0.07 $ 0.07 For the Nine Months Ended May 2, 2020 April 27, 2019 (in thousands, except share and per share amounts) Class A Class B Class A Class B Numerator: Net income (loss) $ (12,370) $ (10,280) $ 12,680 $ 17,022 Less: undistributed earnings to participating securities — — (9) (12) Net income (loss) attributable to common stockholders - basic (12,370) (10,280) 12,671 17,010 Add: adjustments to undistributed earnings to participating securities — — 1 — Reallocation of undistributed earnings as a result of conversion of Class B to Class A shares — — 17,010 — Reallocation of undistributed earnings to Class B shares — — — 236 Net income (loss) attributable to common stockholders - diluted $ (12,370) $ (10,280) $ 29,682 $ 17,246 Denominator: Weighted-average shares of common stock - basic 55,754,290 46,330,439 42,526,494 57,092,932 Conversion of Class B to Class A common shares outstanding — — 57,092,932 — Effect of dilutive stock options and restricted stock units — — 3,956,276 3,086,758 Weighted-average shares of common stock - diluted 55,754,290 46,330,439 103,575,702 60,179,690 Earnings (loss) per share attributable to common stockholders: Basic $ (0.22) $ (0.22) $ 0.30 $ 0.30 Diluted $ (0.22) $ (0.22) $ 0.29 $ 0.29
Schedule of Common Stock Equivalents Excluded from Computation of Diluted Earnings Per Share	The following common stock equivalents were excluded from the computation of diluted earnings (loss) per share for the periods presented because including them would have been antidilutive: For the Three Months Ended For the Nine Months Ended May 2, 2020 April 27, 2019 May 2, 2020 April 27, 2019 Restricted stock units 8,625,483 1,563,723 8,027,468 2,378,821 Stock options to purchase Class A common stock 3,064,975 1,456,543 3,002,050 1,425,213 Stock options to purchase Class B common stock 3,751,705 1,200,479 3,745,626 1,047,268 Total 15,442,163 4,220,745 14,775,144 4,851,302

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Details) $ in Thousands		3 Months Ended	9 Months Ended
		May 02, 2020USD ($)performance_obligation	May 02, 2020USD ($)performance_obligation	Feb. 01, 2020USD ($)	Jan. 14, 2020USD ($)	Aug. 04, 2019USD ($)	Aug. 03, 2019USD ($)	Apr. 27, 2019USD ($)	Mar. 31, 2019USD ($)	Jan. 26, 2019USD ($)	Jul. 28, 2018USD ($)
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Number of performance obligations | performance_obligation		1	1
Refund reserve		$ 4,300	$ 4,300				$ 3,100
Contractual liabilities		14,689	14,689				11,997
Operating lease, right-of-use assets		134,216	134,216		$ 14,000		0
Current operating lease liabilities		23,066	23,066				0
Noncurrent operating lease liabilities		142,568	142,568				0
Cumulative effect of adopting accounting standards		422,580	422,580	$ 438,910			396,000	$ 375,135		$ 353,289	$ 315,072
Accounting Standards Update 2016-02
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Operating lease, right-of-use assets						$ 133,000
Deferred rent previously recorded						25,700
Current operating lease liabilities						22,000
Noncurrent operating lease liabilities						$ 136,700
Upfront Styling Fees
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Contractual liabilities		11,200	11,200				9,600
Style Pass annual fees
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Contractual liabilities		2,600	2,600				2,300
Direct Orders
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Contractual liabilities		900	900				100
Cumulative Effect, Period of Adoption, Adjustment
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Cumulative effect of adopting accounting standards	[1]										35
Deferred revenue
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Contractual liabilities		14,700	14,700				12,000
Revenue recognized		500	11,600
Gift card liability
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Contractual liabilities		8,900	8,900				7,200
Revenue recognized		300	2,400
Other current liabilities
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Contractual liabilities		2,700	2,700				1,600
Revenue recognized		100	700
Retained Earnings
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Cumulative effect of adopting accounting standards		$ 94,024	$ 94,024	$ 127,927			$ 116,674	$ 109,495		$ 102,447	79,758
Retained Earnings | Cumulative Effect, Period of Adoption, Adjustment
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Cumulative effect of adopting accounting standards									$ 400		$ 35	[1]
Retained Earnings | Cumulative Effect, Period of Adoption, Adjustment | Gift Cards
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Cumulative effect of adopting accounting standards									300
Retained Earnings | Cumulative Effect, Period of Adoption, Adjustment | Product Exchanges
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Cumulative effect of adopting accounting standards									$ 100
[1]	See Note 2, Summary of Significant Accounting Policies, of the Notes to the Condensed Consolidated Financial Statements for more details on the cumulative effect of adopting accounting standards.

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value of Available-for-sale Securities (Details) - USD ($) $ in Thousands	May 02, 2020	Aug. 03, 2019
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 229,944	$ 196,124
Gross Unrealized Gains	1,728	524
Gross Unrealized Losses	(9)	0
Fair Value	231,663	196,648
U.S. Treasury securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	69,644	49,807
Gross Unrealized Gains	713	100
Gross Unrealized Losses	(5)	0
Fair Value	70,352	49,907
Commercial paper
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	31,154	29,761
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	31,154	29,761
Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	46,513	42,587
Gross Unrealized Gains	397	145
Gross Unrealized Losses	0	0
Fair Value	46,910	42,732
Corporate bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	82,633	73,969
Gross Unrealized Gains	618	279
Gross Unrealized Losses	(4)	0
Fair Value	$ 83,247	$ 74,248

Fair Value Measurements - Fai_2

Fair Value Measurements - Fair Value of Available-for-Sale Securities by Contractual Maturity (Details) - USD ($) $ in Thousands	May 02, 2020	Aug. 03, 2019
Debt Securities, Available-for-sale [Line Items]
One Year or Less	$ 144,744	$ 143,276
Over One Year Through Five Years	86,919	53,372
Over Five Years	0	0
Total	231,663	196,648
U.S. Treasury securities
Debt Securities, Available-for-sale [Line Items]
One Year or Less	45,495	44,772
Over One Year Through Five Years	24,857	5,135
Over Five Years	0	0
Total	70,352	49,907
Commercial paper
Debt Securities, Available-for-sale [Line Items]
One Year or Less	31,154	29,761
Over One Year Through Five Years	0	0
Over Five Years	0	0
Total	31,154	29,761
Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
One Year or Less	6,162	5,412
Over One Year Through Five Years	40,748	37,320
Over Five Years	0	0
Total	46,910	42,732
Corporate bonds
Debt Securities, Available-for-sale [Line Items]
One Year or Less	61,933	63,331
Over One Year Through Five Years	21,314	10,917
Over Five Years	0	0
Total	$ 83,247	$ 74,248

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Financial Instruments Measured at Fair Value on Recurring Basis Based on Fair Value Hierarchy (Details) - USD ($) $ in Thousands	May 02, 2020	Aug. 03, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments at fair value	$ 231,663	$ 196,648
Assets at fair value	239,736	215,045
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets at fair value	78,425	56,334
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets at fair value	161,311	158,711
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets at fair value	0	0
U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments at fair value	70,352	49,907
Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments at fair value	31,154	29,761
Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments at fair value	46,910	42,732
Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments at fair value	83,247	74,248
Money market funds | Cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents at fair value	2,565	6,427
U.S. Treasury securities | Cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents at fair value	5,508	0
Commercial paper | Cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents at fair value	0	11,970
Fair Value, Recurring | Money market funds | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents at fair value	2,565	6,427
Fair Value, Recurring | Money market funds | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents at fair value	0	0
Fair Value, Recurring | Money market funds | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents at fair value	0	0
Fair Value, Recurring | U.S. Treasury securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents at fair value	5,508	0
Fair Value, Recurring | U.S. Treasury securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents at fair value	0	0
Fair Value, Recurring | U.S. Treasury securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents at fair value	0	0
Fair Value, Recurring | Commercial paper | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents at fair value	0	0
Fair Value, Recurring | Commercial paper | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents at fair value	0	11,970
Fair Value, Recurring | Commercial paper | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents at fair value	0	0
Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments at fair value	31,154	29,761
Commercial paper | Fair Value, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments at fair value	0	0
Commercial paper | Fair Value, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments at fair value	31,154	29,761
Commercial paper | Fair Value, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments at fair value	0	0
U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments at fair value	70,352	49,907
U.S. Treasury securities | Fair Value, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments at fair value	70,352	49,907
U.S. Treasury securities | Fair Value, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments at fair value	0	0
U.S. Treasury securities | Fair Value, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments at fair value	0	0
Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments at fair value	46,910	42,732
Asset-backed securities | Fair Value, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments at fair value	0	0
Asset-backed securities | Fair Value, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments at fair value	46,910	42,732
Asset-backed securities | Fair Value, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments at fair value	0	0
Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments at fair value	83,247	74,248
Corporate bonds | Fair Value, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments at fair value	0	0
Corporate bonds | Fair Value, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments at fair value	83,247	74,248
Corporate bonds | Fair Value, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments at fair value	$ 0	$ 0

Leases - Additional Information

Leases - Additional Information (Details) $ in Thousands, ft² in Millions	9 Months Ended
	May 02, 2020USD ($)renewal_option	Jan. 14, 2020USD ($)ft²	Aug. 04, 2019USD ($)	Aug. 03, 2019USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease, right-of-use assets	$ 134,216	$ 14,000		$ 0
Operating lease liabilities	$ 165,634	$ 19,600		$ 179,790
Term of operating lease		10 years
Number of renewal options | renewal_option	1
Weighted average remaining lease term	6 years 10 months 24 days
Weighted average discount rate, percent	4.80%
Area of leased space | ft²		0.7
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease, right-of-use assets			$ 133,000
Operating lease liabilities			$ 158,700
Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Term of operating lease	5 years
Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Term of operating lease	8 years

Leases - Summary of Lease Compo

Leases - Summary of Lease Components (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	May 02, 2020	May 02, 2020
Leases [Abstract]
Operating lease cost	$ 7,369	$ 21,851
Variable lease costs	1,538	4,486
Short-term lease costs	222	234
Sublease income	(391)	(1,257)
Total	$ 8,738	$ 25,314

Leases - Schedule of Maturities

Leases - Schedule of Maturities of Operating Lease Liabilities (Details) - USD ($) $ in Thousands	May 02, 2020	Jan. 14, 2020	Aug. 03, 2019
Leases [Abstract]
Remainder of 2020	$ 7,091		$ 27,018
2021	30,909		27,680
2022	29,640		25,451
2023	27,609		23,258
2024	23,745		19,696
2025	21,438
Thereafter	58,164
Total undiscounted future minimum lease payments	198,596
Less imputed interest	(32,962)
Total discounted future minimum lease payments	$ 165,634	$ 19,600	$ 179,790

Leases Leases - Schedule of Fut

Leases Leases - Schedule of Future Minimum Rental Commitments (Details) - USD ($) $ in Thousands	May 02, 2020	Jan. 14, 2020	Aug. 03, 2019
Leases [Abstract]
2020	$ 7,091		$ 27,018
2021	30,909		27,680
2022	29,640		25,451
2023	27,609		23,258
2024	23,745		19,696
Thereafter			56,687
Total discounted future minimum lease payments	$ 165,634	$ 19,600	$ 179,790

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flows Information (Details) $ in Thousands	9 Months Ended
	May 02, 2020USD ($)
Leases [Abstract]
Cash paid for amounts included in the measurement of operating lease liabilities	$ 24,179
Operating lease right-of-use assets obtained in exchange for operating lease liabilities	$ 150,391

Accrued Liabilities - Schedule

Accrued Liabilities - Schedule of Accrued Liabilities (Details) - USD ($) $ in Thousands	May 02, 2020	Aug. 03, 2019
Payables and Accruals [Abstract]
Compensation and related benefits	$ 14,661	$ 9,494
Advertising	9,621	12,922
Sales taxes	4,657	6,956
Shipping and freight	6,213	7,045
Accrued accounts payable	4,171	7,550
Inventory purchases	20,315	15,703
Other	11,029	10,064
Total accrued liabilities	$ 70,667	$ 69,734

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) $ in Millions	2 Months Ended	9 Months Ended
	Dec. 10, 2018lawsuit	May 02, 2020USD ($)
Loss Contingencies [Line Items]
Total minimum commitment amount		$ 23.5
Number of lawsuits | lawsuit	4
Minimum
Loss Contingencies [Line Items]
Annual commitment amounts		7.5
Maximum
Loss Contingencies [Line Items]
Annual commitment amounts		$ 8

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 02, 2020	Apr. 27, 2019	May 02, 2020	Apr. 27, 2019
Changes in Accumulated Other Comprehensive Income (Loss) By Component
Stockholders' equity, beginning balance	$ 438,910	$ 353,289	$ 396,000	$ 315,072
Other comprehensive income (loss) before reclassifications	(778)	(50)	1,705	91
Amounts reclassified from AOCI	(1)		(3)
Total other comprehensive income (loss), net of tax	(779)	(50)	1,702	91
Stockholders' equity, ending balance	422,580	375,135	422,580	375,135
Tax (benefit) expense for gains and losses on available-for-sale securities	126	35	259	48
Available-for-sale Securities
Changes in Accumulated Other Comprehensive Income (Loss) By Component
Stockholders' equity, beginning balance	466	22	391	0
Other comprehensive income (loss) before reclassifications	995	140	1,072	162
Amounts reclassified from AOCI	(1)		(3)
Total other comprehensive income (loss), net of tax	994	140	1,069	162
Stockholders' equity, ending balance	1,460	162	1,460	162
Foreign Currency Translation
Changes in Accumulated Other Comprehensive Income (Loss) By Component
Stockholders' equity, beginning balance	1,828	119	(578)	0
Other comprehensive income (loss) before reclassifications	(1,773)	(190)	633	(71)
Amounts reclassified from AOCI	0		0
Total other comprehensive income (loss), net of tax	(1,773)	(190)	633	(71)
Stockholders' equity, ending balance	55	(71)	55	(71)
Accumulated Other Comprehensive Income (Loss)
Changes in Accumulated Other Comprehensive Income (Loss) By Component
Stockholders' equity, beginning balance	2,294	141	(187)	0
Total other comprehensive income (loss), net of tax	(779)	(50)	1,702	91
Stockholders' equity, ending balance	$ 1,515	$ 91	$ 1,515	$ 91

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	May 02, 2020	Apr. 27, 2019	May 02, 2020	Apr. 27, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant date fair value of options (in dollars per share)			$ 11.35	$ 11.37
Unrecognized compensation expense related to unvested options and RSU’s, net of estimated forfeitures	$ 216.7		$ 216.7
Unrecognized compensation expense related to unvested options weighted average recognition period			2 years 9 months 18 days
Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 19.6	$ 9.1	$ 47.5	$ 23.8
2011 Equity Incentive Plan | Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Remaining vesting after first anniversary of grant date			3 years
Options exercisable period			10 years
2011 Equity Incentive Plan | Stock Options | First Anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee stock options vesting percentage			25.00%
2011 Equity Incentive Plan | Stock Options | Second Anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee stock options vesting percentage			25.00%
2011 Equity Incentive Plan | Stock Options | Third Anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee stock options vesting percentage			25.00%
2011 Equity Incentive Plan | Stock Options | Fourth Anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee stock options vesting percentage			25.00%
2017 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for issuance (in shares)	22,207,698		22,207,698
2019 Inducement Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for issuance (in shares)	1,750,000		1,750,000

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock Option Activity Under 2011 and 2017 Stock Plan (Details) - 2011, 2017, and 2019 Plans $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	May 02, 2020USD ($)$ / sharesshares	Aug. 03, 2019USD ($)$ / sharesshares
Number of Options
Outstanding, beginning balance (in shares) | shares	7,070,125
Granted (in shares) | shares	1,602,670
Exercised (in shares) | shares	(764,284)
Cancelled (in shares) | shares	(500,803)
Outstanding, ending balance (in shares) | shares	7,407,708	7,070,125
Weighted- Average Exercise Price
Outstanding, beginning balance (in dollars per share) | $ / shares	$ 14.48
Granted (in dollars per share) | $ / shares	23.39
Exercised (in dollars per share) | $ / shares	8.09
Cancelled (in dollars per share) | $ / shares	22.33
Outstanding, ending balance (in dollars per share) | $ / shares	$ 16.79	$ 14.48
Weighted- Average Remaining Contractual Life (in Years)
Outstanding, weighted-average remaining contractual life	7 years 7 months 2 days	7 years 8 months 19 days
Aggregate Intrinsic Value (in thousands)
Outstanding, aggregate intrinsic value | $	$ 21,095	$ 73,861

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of Restricted Stock Units Award Activity (Details) - Class A Common Stock - Restricted stock units	9 Months Ended
	May 02, 2020$ / sharesshares
Class A Common Stock
Unvested, beginning balance (in shares) | shares	4,428,845
Granted (in shares) | shares	7,032,993
Vested (in shares) | shares	(714,908)
Forfeited (in shares) | shares	(1,069,114)
Unvested, ending balance (in shares) | shares	9,677,816
Weighted- Average Grant Date Fair Value
Unvested, beginning balance (in dollars per share) | $ / shares	$ 27.30
Granted (in dollars per share) | $ / shares	17.01
Vested (in dollars per share) | $ / shares	25.14
Forfeited (in dollars per share) | $ / shares	24.49
Unvested, ending balance (in dollars per share) | $ / shares	$ 20.30

Stock-Based Compensation - Su_3

Stock-Based Compensation - Summary of Assumptions Used in Black-Scholes Option-Pricing Model to Determine Fair Value of Stock Options (Details)	3 Months Ended		9 Months Ended
	May 02, 2020	Apr. 27, 2019	May 02, 2020	Apr. 27, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility, minimum		52.20%	50.10%	41.70%
Volatility	50.10%
Volatility, maximum			51.20%	52.20%
Risk free interest rate, minimum		2.60%	1.40%	2.60%
Risk free interest rate	1.40%
Risk free interest rate, maximum			1.70%	3.00%
Dividend yield	0.00%	0.00%	0.00%	0.00%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	6 years 2 months 12 days	6 years	5 years 6 months	5 years 1 month 6 days
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	6 years 2 months 12 days	6 years 6 months	6 years 2 months 12 days	6 years 6 months

Income Taxes - Schedule of Effe

Income Taxes - Schedule of Effective Tax Rate from Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 02, 2020	Apr. 27, 2019	May 02, 2020	Apr. 27, 2019
Income Tax Disclosure [Abstract]
Income (loss) before income taxes	$ (45,252)	$ (2,713)	$ (34,326)	$ 26,737
Provision (benefit) for income taxes	$ (11,349)	$ (9,761)	$ (11,676)	$ (2,965)
Effective tax rate	(25.10%)	(359.80%)	(34.00%)	(11.10%)

Earnings (Loss) Per Share Att_3

Earnings (Loss) Per Share Attributable to Common Stockholders - Additional Information (Details)	Nov. 16, 2017voteclass
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Number of new classes of common stock authorized | class	2
Common stock, conversion ratio	1
IPO | Class A Common Stock
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Number of votes per share	1
IPO | Class B Common Stock
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Number of votes per share	10

Earnings (Loss) Per Share Att_4

Earnings (Loss) Per Share Attributable to Common Stockholders - Reconciliation of Numerator and Denominator Used in Calculation of Basic and Diluted EPS (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	May 02, 2020	Apr. 27, 2019	May 02, 2020	Apr. 27, 2019
Numerator:
Net income (loss)	$ (33,903)	$ 7,048	$ (22,650)	$ 29,702
Net income (loss) attributable to common stockholders - basic	(33,903)	7,048	(22,650)	29,681
Net income (loss) attributable to common stockholders - diluted	$ (33,903)	$ 7,048	$ (22,650)	$ 29,682
Denominator:
Weighted-average shares of common stock - basic (in shares)	102,650,155	100,301,078	102,084,729	99,619,426
Weighted-average shares of common stock - diluted (in shares)	102,650,155	103,615,159	102,084,729	103,575,702
Earnings (loss) per share attributable to common stockholders:
Basic (in dollars per share)	$ (0.33)	$ 0.07	$ (0.22)	$ 0.30
Diluted (in dollars per share)	$ (0.33)	$ 0.07	$ (0.22)	$ 0.29
Class A Common Stock
Numerator:
Net income (loss)	$ (18,714)	$ 3,286	$ (12,370)	$ 12,680
Less: undistributed earnings to participating securities	0	0	0	(9)
Net income (loss) attributable to common stockholders - basic	(18,714)	3,286	(12,370)	12,671
Add: adjustments to undistributed earnings to participating securities			0	1
Reallocation of undistributed earnings (loss) as a result of conversion of Class B to Class A shares	0	3,762	0	17,010
Reallocation of undistributed earnings (loss) to Class B shares	0	0	0	0
Net income (loss) attributable to common stockholders - diluted	$ (18,714)	$ 7,048	$ (12,370)	$ 29,682
Denominator:
Weighted-average shares of common stock - basic (in shares)	56,661,027	46,770,816	55,754,290	42,526,494
Conversion of Class B to Class A common shares outstanding (in shares)	0	53,530,262	0	57,092,932
Effect of dilutive stock options and restricted stock units (in shares)	0	3,314,081	0	3,956,276
Weighted-average shares of common stock - diluted (in shares)	56,661,027	103,615,159	55,754,290	103,575,702
Earnings (loss) per share attributable to common stockholders:
Basic (in dollars per share)	$ (0.33)	$ 0.07	$ (0.22)	$ 0.30
Diluted (in dollars per share)	$ (0.33)	$ 0.07	$ (0.22)	$ 0.29
Class B Common Stock
Numerator:
Net income (loss)	$ (15,189)	$ 3,762	$ (10,280)	$ 17,022
Less: undistributed earnings to participating securities	0	0	0	(12)
Net income (loss) attributable to common stockholders - basic	(15,189)	3,762	(10,280)	17,010
Add: adjustments to undistributed earnings to participating securities			0	0
Reallocation of undistributed earnings (loss) as a result of conversion of Class B to Class A shares	0	0	0	0
Reallocation of undistributed earnings (loss) to Class B shares	0	45	0	236
Net income (loss) attributable to common stockholders - diluted	$ (15,189)	$ 3,807	$ (10,280)	$ 17,246
Denominator:
Weighted-average shares of common stock - basic (in shares)	45,989,128	53,530,262	46,330,439	57,092,932
Conversion of Class B to Class A common shares outstanding (in shares)	0	0	0	0
Effect of dilutive stock options and restricted stock units (in shares)	0	2,492,226	0	3,086,758
Weighted-average shares of common stock - diluted (in shares)	45,989,128	56,022,488	46,330,439	60,179,690
Earnings (loss) per share attributable to common stockholders:
Basic (in dollars per share)	$ (0.33)	$ 0.07	$ (0.22)	$ 0.30
Diluted (in dollars per share)	$ (0.33)	$ 0.07	$ (0.22)	$ 0.29

Earnings (Loss) Per Share Att_5

Earnings (Loss) Per Share Attributable to Common Stockholders - Schedule of Common Stock Equivalents Excluded from Computation of Diluted Earnings (Loss) Per Share (Details) - shares	3 Months Ended		9 Months Ended
	May 02, 2020	Apr. 27, 2019	May 02, 2020	Apr. 27, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted earnings (loss) per share (in shares)	15,442,163	4,220,745	14,775,144	4,851,302
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted earnings (loss) per share (in shares)	8,625,483	1,563,723	8,027,468	2,378,821
Stock Options | Class A Common Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted earnings (loss) per share (in shares)	3,064,975	1,456,543	3,002,050	1,425,213
Stock Options | Class B Common Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted earnings (loss) per share (in shares)	3,751,705	1,200,479	3,745,626	1,047,268

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent event - USD ($)	Jun. 03, 2020	Jun. 01, 2020	Aug. 01, 2020
Minimum
Subsequent Event [Line Items]
Restructuring and related charges		$ 4,000,000
Maximum
Subsequent Event [Line Items]
Restructuring and related charges		$ 6,000,000
Senior Revolving Credit Facility | 2020 Credit Agreement
Subsequent Event [Line Items]
Line of credit facility, maximum borrowing capacity	$ 90,000,000
Credit sublimit	20,000,000
Swingline provision	50,000,000
Option increase amount	$ 60,000,000
Payments of issuance costs			$ 700,000
Senior Revolving Credit Facility | 2020 Credit Agreement | Federal Funds Rate
Subsequent Event [Line Items]
Basis spread on variable rate (percentage)	0.50%
Senior Revolving Credit Facility | 2020 Credit Agreement | Eurodollar
Subsequent Event [Line Items]
Basis spread on variable rate (percentage)	1.00%
Senior Revolving Credit Facility | 2020 Credit Agreement | Minimum
Subsequent Event [Line Items]
Commitment fee percentage	0.25%
Senior Revolving Credit Facility | 2020 Credit Agreement | Minimum | London Interbank Offered Rate (LIBOR)
Subsequent Event [Line Items]
Basis spread on variable rate (percentage)	2.25%
Senior Revolving Credit Facility | 2020 Credit Agreement | Minimum | Eurodollar Applicable Margin Rate
Subsequent Event [Line Items]
Basis spread on variable rate (percentage)	1.25%
Senior Revolving Credit Facility | 2020 Credit Agreement | Maximum
Subsequent Event [Line Items]
Commitment fee percentage	0.30%
Senior Revolving Credit Facility | 2020 Credit Agreement | Maximum | London Interbank Offered Rate (LIBOR)
Subsequent Event [Line Items]
Basis spread on variable rate (percentage)	2.50%
Senior Revolving Credit Facility | 2020 Credit Agreement | Maximum | Eurodollar Applicable Margin Rate
Subsequent Event [Line Items]
Basis spread on variable rate (percentage)	1.50%

Uncategorized Items - sfix-2020

Label	Element	Value
Restricted Cash, Current	us-gaap_RestrictedCashCurrent	$ 0
Restricted Cash, Current	us-gaap_RestrictedCashCurrent	250,000
Restricted Cash, Noncurrent	us-gaap_RestrictedCashNoncurrent	0
Restricted Cash, Noncurrent	us-gaap_RestrictedCashNoncurrent	$ 12,600,000