Stitch Fix (SFIX) 10-Q 8 Jun 21 2021 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	May 01, 2021	Jun. 03, 2021
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	May 1, 2021
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
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Amendment Flag	false
Current Fiscal Year End Date	--07-31
Common Class A
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		71,813,318
Common Class B
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		35,315,307

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	May 01, 2021	Aug. 01, 2020
Current assets:
Cash and cash equivalents	$ 124,737	$ 143,455
Short-term investments	98,189	143,037
Inventory, net	215,628	124,816
Prepaid expenses and other current assets	56,862	55,002
Total current assets	495,416	466,310
Long-term investments	79,621	95,097
Income tax receivable	48,584	742
Property and equipment, net	80,800	70,369
Operating lease right-of-use assets	124,275	132,615
Other long-term assets	5,025	4,296
Total assets	833,721	769,429
Current liabilities:
Accounts payable	83,098	85,177
Operating lease liabilities	25,668	24,333
Accrued liabilities	118,659	77,590
Gift card liability	10,608	8,590
Deferred revenue	19,985	13,059
Other current liabilities	6,176	3,406
Total current liabilities	264,194	212,155
Operating lease liabilities, net of current portion	127,922	140,175
Other long-term liabilities	12,223	16,062
Total liabilities	404,339	368,392
Commitments and contingencies (Note 6)
Stockholders’ equity:
Additional paid-in capital	406,891	348,750
Accumulated other comprehensive income (loss)	3,276	2,728
Retained earnings	19,213	49,557
Total stockholders’ equity	429,382	401,037
Total liabilities and stockholders’ equity	833,721	769,429
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 01, 2021	Aug. 01, 2020
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)	70,810,327	58,440,930
Common stock, shares outstanding (in shares)	70,810,327	58,440,930
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)	36,261,835	45,314,577
Common stock, shares outstanding (in shares)	36,261,835	45,314,577

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 01, 2021	May 02, 2020	May 01, 2021	May 02, 2020
Income Statement [Abstract]
Revenue, net	$ 535,589	$ 371,726	$ 1,530,099	$ 1,268,325
Cost of goods sold	289,199	220,115	847,915	713,225
Gross profit	246,390	151,611	682,184	555,100
Selling, general, and administrative expenses	270,609	197,666	766,287	592,497
Operating income (loss)	(24,219)	(46,055)	(84,103)	(37,397)
Interest (income) expense	(444)	(1,372)	(2,247)	(4,502)
Other (income) expense, net	(395)	569	(83)	1,431
Income (loss) before income taxes	(23,380)	(45,252)	(81,773)	(34,326)
Provision (benefit) for income taxes	(4,534)	(11,349)	(51,429)	(11,676)
Net income (loss)	(18,846)	(33,903)	(30,344)	(22,650)
Other comprehensive income (loss):
Change in unrealized gain (loss) on available-for-sale securities, net of tax	(299)	994	(1,350)	1,069
Foreign currency translation	307	(1,773)	1,898	633
Total other comprehensive income (loss), net of tax	8	(779)	548	1,702
Comprehensive income (loss)	(18,838)	(34,682)	(29,796)	(20,948)
Net income (loss) attributable to common stockholders:
Basic	(18,846)	(33,903)	(30,344)	(22,650)
Diluted	$ (18,846)	$ (33,903)	$ (30,344)	$ (22,650)
Earnings (loss) per share attributable to common stockholders:
Basic (in dollars per share)	$ (0.18)	$ (0.33)	$ (0.29)	$ (0.22)
Diluted (in dollars per share)	$ (0.18)	$ (0.33)	$ (0.29)	$ (0.22)
Weighted-average shares used to compute earnings (loss) per share attributable to common stockholders:
Basic (in shares)	106,696,220	102,650,155	105,457,907	102,084,729
Diluted (in shares)	106,696,220	102,650,155	105,457,907	102,084,729

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings
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
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
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
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
Stockholders' equity, beginning balance (in shares) at Aug. 01, 2020		103,755,507
Stockholders' equity, beginning balance at Aug. 01, 2020	401,037	$ 2	348,750	2,728	49,557
Increase (Decrease) in Stockholders' Equity
Issuance of common stock upon exercise of stock options (in shares)		1,839,804
Issuance of common stock upon exercise of stock options	22,741		22,741
Issuance of common stock upon settlement of restricted stock units, net of tax withholdings (in shares)		1,476,851
Issuance of common stock upon settlement of restricted stock units, net of tax withholdings	(42,030)		(42,030)
Stock-based compensation	77,430		77,430
Net income (loss)	(30,344)				(30,344)
Other comprehensive income (loss), net of tax	548			548
Stockholders' equity, ending balance (in shares) at May. 01, 2021		107,072,162
Stockholders' equity, ending balance at May. 01, 2021	429,382	$ 2	406,891	3,276	19,213
Stockholders' equity, beginning balance (in shares) at Jan. 30, 2021		106,307,740
Stockholders' equity, beginning balance at Jan. 30, 2021	433,534	$ 2	392,205	3,268	38,059
Increase (Decrease) in Stockholders' Equity
Issuance of common stock upon exercise of stock options (in shares)		238,078
Issuance of common stock upon exercise of stock options	2,202		2,202
Issuance of common stock upon settlement of restricted stock units, net of tax withholdings (in shares)		526,344
Issuance of common stock upon settlement of restricted stock units, net of tax withholdings	(17,914)		(17,914)
Stock-based compensation	30,398		30,398
Net income (loss)	(18,846)				(18,846)
Other comprehensive income (loss), net of tax	8			8
Stockholders' equity, ending balance (in shares) at May. 01, 2021		107,072,162
Stockholders' equity, ending balance at May. 01, 2021	$ 429,382	$ 2	$ 406,891	$ 3,276	$ 19,213

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flow (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	May 01, 2021	May 02, 2020
Cash Flows from Operating Activities
Net income (loss)	$ (30,344)	$ (22,650)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Deferred income taxes	0	(12,307)
Inventory reserves	6,422	18,383
Stock-based compensation expense	73,486	47,475
Depreciation, amortization, and accretion	21,933	16,264
Other	(1,863)	615
Change in operating assets and liabilities:
Inventory	(96,981)	(65,200)
Prepaid expenses and other assets	(3,907)	(4,481)
Income tax receivable	(47,842)	0
Operating lease right-of-use assets and liabilities	(1,256)	1,728
Accounts payable	(3,482)	(7,569)
Accrued liabilities	40,914	1,192
Deferred revenue	6,913	2,692
Gift card liability	2,018	1,661
Other liabilities	(1,073)	1,709
Net cash provided by (used in) operating activities	(35,062)	(20,488)
Cash Flows from Investing Activities
Purchases of property and equipment	(23,690)	(18,651)
Purchases of securities available-for-sale	(148,999)	(191,894)
Sales of securities available-for-sale	73,863	26,286
Maturities of securities available-for-sale	132,999	132,082
Net cash provided by (used in) investing activities	34,173	(52,177)
Cash Flows from Financing Activities
Proceeds from the exercise of stock options, net	22,741	6,236
Payments for tax withholding related to vesting of restricted stock units	(42,030)	(7,884)
Net cash provided by (used in) financing activities	(19,289)	(1,648)
Net increase (decrease) in cash and cash equivalents	(20,178)	(74,313)
Effect of exchange rate changes on cash	1,460	221
Cash and cash equivalents at beginning of period	143,455	170,932
Cash and cash equivalents at end of period	124,737	96,840
Supplemental Disclosure
Cash paid for income taxes	232	117
Supplemental Disclosure of Non-Cash Investing and Financing Activities:
Purchases of property and equipment included in accounts payable and accrued liabilities	6,391	4,338
Capitalized stock-based compensation	3,944	1,701
Leasehold improvements paid by landlord	$ 0	$ 7,406

Description of Business

Description of Business	9 Months Ended
	May 01, 2021
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 provide a direct-buy offering 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 based on their prior purchases or style preferences. We are incorporated in Delaware and have operations in the United States and the United Kingdom (“UK”). COVID-19 Update The full impact of the COVID-19 crisis on our business will depend on factors such as the length of time of the pandemic; how federal, state and local governments are responding; the efficacy of the COVID-19 vaccines; the longer-term 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 pandemic, in the third quarter of fiscal 2020, we temporarily closed three of our eight fulfillment centers, operated at significantly reduced capacity for much of the third quarter as a result of such temporary closures, and reduced our marketing in light of this reduced capacity. During the fourth quarter of fiscal 2020, our fulfillment centers returned to higher capacity levels. In the first nine months of fiscal 2021, we experienced smaller, intermittent interruptions at our fulfillment centers when we temporarily closed for part of a work day or for a full day to perform safety and cleaning procedures following an employee testing positive for COVID-19. We believe our financial resources will allow us to manage the impact of COVID-19 on our business and operations. We believe our existing cash, cash equivalents, and 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. We also 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. 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, 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 1, 2021.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	May 01, 2021
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 July 31, 2021 (“2021”), and August 1, 2020 (“2020”), consist of 52 weeks. 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 July 31, 2021, 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 1, 2020, included in our Annual Report on Form 10-K filed with the SEC on September 25, 2020 (the “2020 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. Short-Term and Long-Term Investments Our 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. Our 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. The cost of securities sold is based upon the specific identification method. In the first quarter of fiscal 2021, we adopted Accounting Standards Update (“ASU”) No. 2016-13, or “CECL,” which changed the way we evaluate available-for-sale securities for impairment. We no longer evaluate available-for-sale debt securities under the “other than temporary” impairment model, but now use an expected credit loss model. For debt securities with an amortized cost basis in excess of estimated fair value, we determine what amount of that deficit, if any, is caused by expected credit losses. The portion of the deficit attributable to expected credit losses is recognized in other (income) expense, net on our condensed consolidated statements of income. During the three and nine months ended May 1, 2021, we did not record any expected credit losses on our available-for-sale debt securities. We have elected to present accrued interest receivable separately from short-term and long-term investments on our condensed consolidated balance sheets. Accrued interest receivable was $0.7 million as of May 1, 2021, and was recorded in prepaid expenses and other current assets. We have also elected to exclude accrued interest receivable from the estimation of expected credit losses on our available-for-sale securities and reverse accrued interest receivable through interest income (expense) when amounts are determined to be uncollectible. We did not write off any accrued interest receivable during the three and nine months ended May 1, 2021. Leases Currently, we only have operating leases, which include lease arrangements for our corporate offices, fulfillment centers, and, to a lesser extent, equipment. Operating leases with a term greater than one year are recorded on the consolidated balance sheets as operating lease right-of-use assets and operating lease liabilities at the commencement date. These balances are initially recorded at the present value of future minimum lease payments calculated using our incremental borrowing rate and expected lease term. Certain adjustments to our operating lease right-of-use assets may be required for items such as initial direct costs paid or incentives received. 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 or “Shop”, control is transferred upon shipment 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 $12.2 million and $5.0 million as of May 1, 2021, and August 1, 2020, respectively. We have 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. We expect 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. The following table summarizes the balances of contractual liabilities included in other current liabilities, deferred revenue and gift card liability as of the dates indicated: (in thousands) May 1, 2021 August 1, 2020 Deferred revenue Upfront styling fees $ 13,469 $ 9,119 Style Pass annual fees 4,099 2,711 Direct order 2,417 $ 1,229 Total deferred revenue $ 19,985 $ 13,059 Gift card liability $ 10,608 $ 8,590 Other current liabilities Referral credits $ 5,158 $ 2,577 The following table summarizes revenue recognized during the nine months ended May 1, 2021, that was previously included in deferred revenue, gift card liability, and other current liabilities at August 1, 2020: (in thousands) Revenue Recognized From Amounts Previously Included in Deferred Balances at August 1, 2020 Upfront styling fees $ 9,110 Style Pass annual fees 2,358 Direct order 947 Gift card liability 2,602 Referral credits 1,851 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 1, 2021, and May 2, 2020, respectively. Recently Issued Accounting Pronouncements 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 June 2016, the Financial Accounting Standards Board (“FASB”) issued 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 adopted this standard in the first quarter of fiscal year 2021. The adoption of this standard did not have a material impact 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. We adopted this standard in the first quarter of fiscal year 2021. The adoption of this standard did not have a material impact on our consolidated financial statements. 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 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 in the first quarter of fiscal 2020, 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 are 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 in the first quarter of fiscal 2020, 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.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	May 01, 2021
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 1, 2021, and August 1, 2020, 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 1, 2021, and August 1, 2020: May 1, 2021 August 1, 2020 (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 $ 51,652 $ 115 $ — $ 51,767 $ 67,335 $ 516 $ (1) $ 67,850 Certificates of deposit 9,200 — — 9,200 6,150 — — 6,150 Commercial paper 16,587 — — 16,587 35,331 — — 35,331 Asset-backed securities 10,599 41 (6) 10,634 44,854 410 (4) 45,260 Corporate bonds 89,479 154 (11) 89,622 82,821 723 (1) 83,543 Total $ 177,517 $ 310 $ (17) $ 177,810 $ 236,491 $ 1,649 $ (6) $ 238,134 The following table sets forth the fair value of available-for-sale securities by contractual maturity as of May 1, 2021, and August 1, 2020: May 1, 2021 August 1, 2020 (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 $ 39,760 $ 12,007 $ — $ 51,767 $ 38,794 $ 29,056 $ — $ 67,850 Certificates of deposit 9,200 — — 9,200 6,150 — — 6,150 Commercial paper 16,587 — — 16,587 35,331 — — 35,331 Asset-backed securities — 10,634 — 10,634 6,657 38,603 — 45,260 Corporate bonds 32,642 56,980 — 89,622 56,105 27,438 — 83,543 Total $ 98,189 $ 79,621 $ — $ 177,810 $ 143,037 $ 95,097 $ — $ 238,134 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 1, 2021, and August 1, 2020: May 1, 2021 August 1, 2020 (in thousands) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Financial Assets: Cash equivalents: Money market funds $ 23,682 $ — $ — $ 23,682 $ 2,394 $ — $ — $ 2,394 U.S Treasury securities — — — — — — — — Investments: U.S. Treasury securities 51,767 — — 51,767 67,850 — — 67,850 Certificates of deposit — 9,200 — 9,200 — 6,150 — 6,150 Commercial paper — 16,587 — 16,587 — 35,331 — 35,331 Asset-backed securities — 10,634 — 10,634 — 45,260 — 45,260 Corporate bonds — 89,622 — 89,622 — 83,543 — 83,543 Total $ 75,449 $ 126,043 $ — $ 201,492 $ 70,244 $ 170,284 $ — $ 240,528

Accrued Liabilities

Accrued Liabilities	9 Months Ended
	May 01, 2021
Payables and Accruals [Abstract]
Accrued Liabilities	Accrued Liabilities Accrued liabilities consisted of the following: (in thousands) May 1, 2021 August 1, 2020 Compensation and related benefits $ 20,850 $ 11,987 Advertising 14,060 14,979 Sales taxes 11,942 7,134 Shipping and freight 13,129 8,624 Accrued accounts payable 7,874 5,892 Inventory purchases 29,135 15,427 Other 21,669 13,547 Total accrued liabilities $ 118,659 $ 77,590 California Styling Organization On June 1, 2020, we announced a restructuring plan to eliminate substantially all of our Styling team based in California. As a result of this restructuring, we recognized aggregate charges of $4.8 million for termination benefits within selling, general, and administrative expenses during 2020. Cash payments of $3.1 million and $1.7 million occurred during 2021 and 2020, respectively, with no outstanding liability as of May 1, 2021. Other costs such as relocation assistance were expensed as incurred.

Credit Agreements

Credit Agreements	9 Months Ended
	May 01, 2021
Debt Disclosure [Abstract]
Credit Agreements	Credit Agreements In June 2020, we entered into a credit agreement (the “2020 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 had the option to request an incremental facility of up to an additional $60.0 million from one or more of the lenders under the 2020 Credit Agreement. Under the terms of the 2020 Credit Agreement, revolving loans were either Eurodollar Loans or ABR Loans. Outstanding Eurodollar Loans would have incurred interest at the Eurodollar Rate, which is defined in the 2020 Credit Agreement as LIBOR (or any successor thereto), plus a margin of either 2.25% or 2.50%, depending on usage. Outstanding ABR Loans would have incurred 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. The 2020 Credit Agreement required us to pay a commitment fee of either 0.25% or 0.30% per year, depending on usage, for committed but unused amounts. As of May 1, 2021, we did not have any borrowings outstanding under the 2020 Credit Agreement and we were in compliance with all financial covenants. On June 2, 2021, we entered into an amended and restated credit agreement (the “Amended Credit Agreement”) with Silicon Valley Bank and other lenders, to provide a revolving line of credit of up to $100.0 million, including a letter of credit sub-facility in the aggregate amount of $30.0 million, and a swingline sub-facility in the aggregate amount of $50.0 million, to replace the 2020 Credit Agreement. We also have the option to request an incremental facility of up to an additional $150.0 million from one or more of the lenders under the Amended Credit Agreement. Under the terms of the Amended 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 Amended Credit Agreement as LIBOR (or any successor thereto), plus a margin of 2.25%. 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 1.25%. We will be charged a commitment fee of 0.25% for committed but unused amounts. The revolving line of credit under the Amended Credit Agreement will terminate on May 31, 2024, unless the termination date is extended at the election of the lenders. Our obligations under the Amended Credit Agreement and any hedging or cash management agreements entered into with any lender thereunder are 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 Amended Credit Agreement contains covenants limiting the 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 Amended 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. The Amended 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.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	May 01, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Commitments In November 2020, we entered into an agreement to lease approximately 700,000 square feet of space to be used as a fulfillment center in Salt Lake City, Utah. We expect to classify this lease as an operating lease, with a commencement date of late fiscal 2021 or early fiscal 2022. The lease expires in 2030 and we expect to record fixed operating lease costs of approximately $33.1 million over the life of the lease. 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 granted our motion to dismiss on September 30, 2020 but allowed the lead plaintiff to file an amended complaint. On November 6, 2020, the lead plaintiff filed his amended complaint. We filed a motion to dismiss the amended complaint on December 7, 2020. The lead plaintiff filed an opposition to the motion to dismiss on January 8, 2021, and we filed our reply in support of our motion to dismiss on January 22, 2021. 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 and breach of fiduciary duties. The derivative action has been stayed pending the outcome of the motion to dismiss in the Class Action pursuant to the parties’ stipulation. 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 pursuant to the parties’ stipulation. 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 disclosed in our 2020 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 01, 2021
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) The following tables present the changes in AOCI by component and, if applicable, the reclassifications out of AOCI for the periods presented: For the Three Months Ended May 1, 2021 For the Three Months Ended May 2, 2020 (in thousands) Available-for-sale Securities Foreign Currency Translation Total Available-for-sale Securities Foreign Currency Translation Total Beginning balance $ 162 $ 3,106 $ 3,268 $ 466 $ 1,828 $ 2,294 Other comprehensive income (loss) before reclassifications (1) (282) 307 25 995 (1,773) (778) Amounts reclassified from AOCI (17) — (17) (1) — (1) Net change in AOCI (299) 307 8 994 (1,773) (779) Ending balance $ (137) $ 3,413 $ 3,276 $ 1,460 $ 55 $ 1,515 For the Nine Months Ended May 1, 2021 For the Nine Months Ended May 2, 2020 (in thousands) Available-for-sale Securities Foreign Currency Translation Total Available-for-sale Securities Foreign Currency Translation Total Beginning balance $ 1,213 $ 1,515 $ 2,728 $ 391 $ (578) $ (187) Other comprehensive income (loss) before reclassifications (1) (1,219) 1,898 679 1,072 633 1,705 Amounts reclassified from AOCI (131) — (131) (3) — (3) Net change in AOCI (1,350) 1,898 548 1,069 633 1,702 Ending balance $ (137) $ 3,413 $ 3,276 $ 1,460 $ 55 $ 1,515

Stock Based Compensation

Stock Based Compensation	9 Months Ended
	May 01, 2021
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 awards generally vest 25% on the first anniversary of the grant date with the remaining shares subject to the option vesting ratably over the next three years. Options generally expire after 10 years. Effective upon our initial public offering in 2017, 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 our 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 (“RSU”) 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. Employee stock option awards generally vest 25% on the first anniversary of the grant date with the remaining shares subject to the option vesting ratably over the next three years. Options generally expire after 10 years. RSU awards generally vest 25% on the first anniversary of the grant date with the remaining RSU awards vesting ratably over the next three years. The number of shares authorized for issuance under the 2017 Plan was 27,395,455 as of May 1, 2021. 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 RSU 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 4,750,000 as of May 1, 2021. Stock option activity under the 2011 Plan, 2017 Plan, and 2019 Plan is as follows: Options Outstanding Number of Weighted- Weighted- Aggregate Balance – August 1, 2020 6,817,196 $ 17.10 7.41 $ 40,252 Granted 463,376 $ 55.06 Exercised (1,839,804) $ 12.36 Cancelled (1,163,950) $ 22.19 Balance – May 1, 2021 4,276,818 $ 21.87 7.24 $ 97,183 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 RSU award activity under the 2017 Plan and 2019 Plan: Unvested RSUs Class A Common Stock Weighted- Unvested at August 1, 2020 9,123,341 $ 20.11 Granted 5,855,934 $ 39.39 Vested (1,476,851) $ 21.44 Forfeited (2,253,436) $ 22.96 Unvested at May 1, 2021 11,248,988 $ 29.39 Stock-Based Compensation Expense Stock-based compensation expense for employees was $28.8 million and $73.5 million for the three and nine months ended May 1, 2021, respectively, and $19.6 million and $47.5 million for the three and nine months ended May 2, 2020, 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 1, 2021, was $27.74 per share. The weighted-average grant date fair value of options granted during the nine months ended May 2, 2020, was $11.35 per share. As of May 1, 2021, the total unrecognized compensation expense related to unvested options and RSUs, net of estimated forfeitures, was $314.2 million, which we expect to recognize over an estimated weighted average period of 2.5 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 1, 2021 May 2, 2020 May 1, 2021 May 2, 2020 Expected term (in years) 5.8 6.2 5.3 - 6.3 5.5 - 6.2 Volatility 55.5% 50.1% 55.5% - 55.9% 50.1% - 51.2% Risk free interest rate 0.6% 1.4% 0.3% - 0.6% 1.4% - 1.7% Dividend yield — % — % — % — %

Income Taxes

Income Taxes	9 Months Ended
	May 01, 2021
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 1, 2021 May 2, 2020 May 1, 2021 May 2, 2020 Income (loss) before income taxes $ (23,380) $ (45,252) $ (81,773) $ (34,326) Provision (benefit) for income taxes (4,534) (11,349) (51,429) (11,676) Effective tax rate 19.4 % 25.1 % 62.9 % 34.0 % We are primarily subject to income taxes in the United States. Our effective tax rate for the three and nine months ended May 1, 2021, differs from the federal statutory income tax rate primarily due to the net operating loss carryback provisions of the CARES Act and excess tax benefits from stock-based compensation, partially offset by certain nondeductible expenses. Our effective tax rate for the three and nine months ended May 2, 2020, differed 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. 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 01, 2021
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: Class A and Class B common stock. 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. 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. 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 1, 2021 May 2, 2020 (in thousands, except share and per share amounts) Class A Class B Class A Class B Numerator: Net income (loss) $ (12,142) $ (6,704) $ (18,714) $ (15,189) Net income (loss) attributable to common stockholders - basic (12,142) (6,704) (18,714) (15,189) Net income (loss) attributable to common stockholders - diluted $ (12,142) $ (6,704) $ (18,714) $ (15,189) Denominator: Weighted-average shares of common stock - basic 68,743,748 37,952,472 56,661,027 45,989,128 Weighted-average shares of common stock - diluted 68,743,748 37,952,472 56,661,027 45,989,128 Earnings (loss) per share attributable to common stockholders: Basic $ (0.18) $ (0.18) $ (0.33) $ (0.33) Diluted $ (0.18) $ (0.18) $ (0.33) $ (0.33) For the Nine Months Ended May 1, 2021 May 2, 2020 (in thousands, except share and per share amounts) Class A Class B Class A Class B Numerator: Net income (loss) $ (18,423) $ (11,921) $ (12,370) $ (10,280) Net income (loss) attributable to common stockholders - basic (18,423) (11,921) (12,370) (10,280) Net income (loss) attributable to common stockholders - diluted $ (18,423) $ (11,921) $ (12,370) $ (10,280) Denominator: Weighted-average shares of common stock - basic 64,029,465 41,428,442 55,754,290 46,330,439 Weighted-average shares of common stock - diluted 64,029,465 41,428,442 55,754,290 46,330,439 Earnings (loss) per share attributable to common stockholders: Basic $ (0.29) $ (0.29) $ (0.22) $ (0.22) Diluted $ (0.29) $ (0.29) $ (0.22) $ (0.22) 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 1, 2021 May 2, 2020 May 1, 2021 May 2, 2020 Restricted stock units 8,384,774 8,625,483 8,725,064 8,027,468 Stock options to purchase Class A common stock 1,445,964 3,064,975 1,352,936 3,002,050 Stock options to purchase Class B common stock 1,527,146 3,751,705 1,857,297 3,745,626 Total 11,357,884 15,442,163 11,935,297 14,775,144

Subsequent Events

Subsequent Events	9 Months Ended
	May 01, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On June 2, 2021, we entered into an amended and restated credit agreement with Silicon Valley Bank and other lenders, to provide a revolving line of credit, including a letter of credit sub-facility and a swingline sub-facility. Refer to Note 5, Credit Agreements, for additional detail.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	May 01, 2021
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 July 31, 2021 (“2021”), and August 1, 2020 (“2020”), consist of 52 weeks. 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 July 31, 2021, or for any other interim period or for any other future year. All intercompany balances and transactions have been eliminated in consolidation.
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.
Short-Term and Long-Term Investments	Short-Term and Long-Term Investments Our 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. Our 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. The cost of securities sold is based upon the specific identification method. In the first quarter of fiscal 2021, we adopted Accounting Standards Update (“ASU”) No. 2016-13, or “CECL,” which changed the way we evaluate available-for-sale securities for impairment. We no longer evaluate available-for-sale debt securities under the “other than temporary” impairment model, but now use an expected credit loss model. For debt securities with an amortized cost basis in excess of estimated fair value, we determine what amount of that deficit, if any, is caused by expected credit losses. The portion of the deficit attributable to expected credit losses is recognized in other (income) expense, net on our condensed consolidated statements of income. During the three and nine months ended May 1, 2021, we did not record any expected credit losses on our available-for-sale debt securities. We have elected to present accrued interest receivable separately from short-term and long-term investments on our condensed consolidated balance sheets. Accrued interest receivable was $0.7 million as of May 1, 2021, and was recorded in prepaid expenses and other current assets. We have also elected to exclude accrued interest receivable from the estimation of expected credit losses on our available-for-sale securities and reverse accrued interest receivable through interest income (expense) when amounts are determined to be uncollectible. We did not write off any accrued interest receivable during the three and nine months ended May 1, 2021.
Leases	LeasesCurrently, we only have operating leases, which include lease arrangements for our corporate offices, fulfillment centers, and, to a lesser extent, equipment. Operating leases with a term greater than one year are recorded on the consolidated balance sheets as operating lease right-of-use assets and operating lease liabilities at the commencement date. These balances are initially recorded at the present value of future minimum lease payments calculated using our incremental borrowing rate and expected lease term. Certain adjustments to our operating lease right-of-use assets may be required for items such as initial direct costs paid or incentives received.
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 or “Shop”, control is transferred upon shipment 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 $12.2 million and $5.0 million as of May 1, 2021, and August 1, 2020, respectively. We have 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. We expect 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	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 1, 2021, and May 2, 2020, respectively.
Recently Issued and Adopted Accounting Pronouncements	Recently Issued Accounting Pronouncements 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 June 2016, the Financial Accounting Standards Board (“FASB”) issued 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 adopted this standard in the first quarter of fiscal year 2021. The adoption of this standard did not have a material impact 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. We adopted this standard in the first quarter of fiscal year 2021. The adoption of this standard did not have a material impact on our consolidated financial statements. 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 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 in the first quarter of fiscal 2020, 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 are 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 in the first quarter of fiscal 2020, 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.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	May 01, 2021
Accounting Policies [Abstract]
Summary of Contractual Liabilities and Revenue Recognized	The following table summarizes the balances of contractual liabilities included in other current liabilities, deferred revenue and gift card liability as of the dates indicated: (in thousands) May 1, 2021 August 1, 2020 Deferred revenue Upfront styling fees $ 13,469 $ 9,119 Style Pass annual fees 4,099 2,711 Direct order 2,417 $ 1,229 Total deferred revenue $ 19,985 $ 13,059 Gift card liability $ 10,608 $ 8,590 Other current liabilities Referral credits $ 5,158 $ 2,577 The following table summarizes revenue recognized during the nine months ended May 1, 2021, that was previously included in deferred revenue, gift card liability, and other current liabilities at August 1, 2020: (in thousands) Revenue Recognized From Amounts Previously Included in Deferred Balances at August 1, 2020 Upfront styling fees $ 9,110 Style Pass annual fees 2,358 Direct order 947 Gift card liability 2,602 Referral credits 1,851

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	May 01, 2021
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 1, 2021, and August 1, 2020: May 1, 2021 August 1, 2020 (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 $ 51,652 $ 115 $ — $ 51,767 $ 67,335 $ 516 $ (1) $ 67,850 Certificates of deposit 9,200 — — 9,200 6,150 — — 6,150 Commercial paper 16,587 — — 16,587 35,331 — — 35,331 Asset-backed securities 10,599 41 (6) 10,634 44,854 410 (4) 45,260 Corporate bonds 89,479 154 (11) 89,622 82,821 723 (1) 83,543 Total $ 177,517 $ 310 $ (17) $ 177,810 $ 236,491 $ 1,649 $ (6) $ 238,134
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 1, 2021, and August 1, 2020: May 1, 2021 August 1, 2020 (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 $ 39,760 $ 12,007 $ — $ 51,767 $ 38,794 $ 29,056 $ — $ 67,850 Certificates of deposit 9,200 — — 9,200 6,150 — — 6,150 Commercial paper 16,587 — — 16,587 35,331 — — 35,331 Asset-backed securities — 10,634 — 10,634 6,657 38,603 — 45,260 Corporate bonds 32,642 56,980 — 89,622 56,105 27,438 — 83,543 Total $ 98,189 $ 79,621 $ — $ 177,810 $ 143,037 $ 95,097 $ — $ 238,134
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 1, 2021, and August 1, 2020: May 1, 2021 August 1, 2020 (in thousands) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Financial Assets: Cash equivalents: Money market funds $ 23,682 $ — $ — $ 23,682 $ 2,394 $ — $ — $ 2,394 U.S Treasury securities — — — — — — — — Investments: U.S. Treasury securities 51,767 — — 51,767 67,850 — — 67,850 Certificates of deposit — 9,200 — 9,200 — 6,150 — 6,150 Commercial paper — 16,587 — 16,587 — 35,331 — 35,331 Asset-backed securities — 10,634 — 10,634 — 45,260 — 45,260 Corporate bonds — 89,622 — 89,622 — 83,543 — 83,543 Total $ 75,449 $ 126,043 $ — $ 201,492 $ 70,244 $ 170,284 $ — $ 240,528

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	9 Months Ended
	May 01, 2021
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities	Accrued liabilities consisted of the following: (in thousands) May 1, 2021 August 1, 2020 Compensation and related benefits $ 20,850 $ 11,987 Advertising 14,060 14,979 Sales taxes 11,942 7,134 Shipping and freight 13,129 8,624 Accrued accounts payable 7,874 5,892 Inventory purchases 29,135 15,427 Other 21,669 13,547 Total accrued liabilities $ 118,659 $ 77,590

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	May 01, 2021
Equity [Abstract]
Changes in Accumulated Other Comprehensive Loss By Component	The following tables present the changes in AOCI by component and, if applicable, the reclassifications out of AOCI for the periods presented: For the Three Months Ended May 1, 2021 For the Three Months Ended May 2, 2020 (in thousands) Available-for-sale Securities Foreign Currency Translation Total Available-for-sale Securities Foreign Currency Translation Total Beginning balance $ 162 $ 3,106 $ 3,268 $ 466 $ 1,828 $ 2,294 Other comprehensive income (loss) before reclassifications (1) (282) 307 25 995 (1,773) (778) Amounts reclassified from AOCI (17) — (17) (1) — (1) Net change in AOCI (299) 307 8 994 (1,773) (779) Ending balance $ (137) $ 3,413 $ 3,276 $ 1,460 $ 55 $ 1,515 For the Nine Months Ended May 1, 2021 For the Nine Months Ended May 2, 2020 (in thousands) Available-for-sale Securities Foreign Currency Translation Total Available-for-sale Securities Foreign Currency Translation Total Beginning balance $ 1,213 $ 1,515 $ 2,728 $ 391 $ (578) $ (187) Other comprehensive income (loss) before reclassifications (1) (1,219) 1,898 679 1,072 633 1,705 Amounts reclassified from AOCI (131) — (131) (3) — (3) Net change in AOCI (1,350) 1,898 548 1,069 633 1,702 Ending balance $ (137) $ 3,413 $ 3,276 $ 1,460 $ 55 $ 1,515

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	May 01, 2021
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 1, 2020 6,817,196 $ 17.10 7.41 $ 40,252 Granted 463,376 $ 55.06 Exercised (1,839,804) $ 12.36 Cancelled (1,163,950) $ 22.19 Balance – May 1, 2021 4,276,818 $ 21.87 7.24 $ 97,183
Schedule of Unvested Restricted Stock Units Activity	The following table summarizes the RSU award activity under the 2017 Plan and 2019 Plan: Unvested RSUs Class A Common Stock Weighted- Unvested at August 1, 2020 9,123,341 $ 20.11 Granted 5,855,934 $ 39.39 Vested (1,476,851) $ 21.44 Forfeited (2,253,436) $ 22.96 Unvested at May 1, 2021 11,248,988 $ 29.39
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 1, 2021 May 2, 2020 May 1, 2021 May 2, 2020 Expected term (in years) 5.8 6.2 5.3 - 6.3 5.5 - 6.2 Volatility 55.5% 50.1% 55.5% - 55.9% 50.1% - 51.2% Risk free interest rate 0.6% 1.4% 0.3% - 0.6% 1.4% - 1.7% Dividend yield — % — % — % — %

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	May 01, 2021
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 1, 2021 May 2, 2020 May 1, 2021 May 2, 2020 Income (loss) before income taxes $ (23,380) $ (45,252) $ (81,773) $ (34,326) Provision (benefit) for income taxes (4,534) (11,349) (51,429) (11,676) Effective tax rate 19.4 % 25.1 % 62.9 % 34.0 %

Earnings (Loss) Per Share Att_2

Earnings (Loss) Per Share Attributable to Common Stockholders (Tables)	9 Months Ended
	May 01, 2021
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 1, 2021 May 2, 2020 (in thousands, except share and per share amounts) Class A Class B Class A Class B Numerator: Net income (loss) $ (12,142) $ (6,704) $ (18,714) $ (15,189) Net income (loss) attributable to common stockholders - basic (12,142) (6,704) (18,714) (15,189) Net income (loss) attributable to common stockholders - diluted $ (12,142) $ (6,704) $ (18,714) $ (15,189) Denominator: Weighted-average shares of common stock - basic 68,743,748 37,952,472 56,661,027 45,989,128 Weighted-average shares of common stock - diluted 68,743,748 37,952,472 56,661,027 45,989,128 Earnings (loss) per share attributable to common stockholders: Basic $ (0.18) $ (0.18) $ (0.33) $ (0.33) Diluted $ (0.18) $ (0.18) $ (0.33) $ (0.33) For the Nine Months Ended May 1, 2021 May 2, 2020 (in thousands, except share and per share amounts) Class A Class B Class A Class B Numerator: Net income (loss) $ (18,423) $ (11,921) $ (12,370) $ (10,280) Net income (loss) attributable to common stockholders - basic (18,423) (11,921) (12,370) (10,280) Net income (loss) attributable to common stockholders - diluted $ (18,423) $ (11,921) $ (12,370) $ (10,280) Denominator: Weighted-average shares of common stock - basic 64,029,465 41,428,442 55,754,290 46,330,439 Weighted-average shares of common stock - diluted 64,029,465 41,428,442 55,754,290 46,330,439 Earnings (loss) per share attributable to common stockholders: Basic $ (0.29) $ (0.29) $ (0.22) $ (0.22) Diluted $ (0.29) $ (0.29) $ (0.22) $ (0.22)
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 1, 2021 May 2, 2020 May 1, 2021 May 2, 2020 Restricted stock units 8,384,774 8,625,483 8,725,064 8,027,468 Stock options to purchase Class A common stock 1,445,964 3,064,975 1,352,936 3,002,050 Stock options to purchase Class B common stock 1,527,146 3,751,705 1,857,297 3,745,626 Total 11,357,884 15,442,163 11,935,297 14,775,144

Description of Business - Narra

Description of Business - Narrative (Details)	3 Months Ended
	May 02, 2020fulfillmentCenter
Restructuring Cost and Reserve [Line Items]
Number of fulfillment centers	8
Temporarily Closed
Restructuring Cost and Reserve [Line Items]
Number of fulfillment centers	3

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($) $ in Thousands	May 01, 2021	Aug. 01, 2020	Aug. 04, 2019	Aug. 03, 2019
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Refund reserve	$ 12,200	$ 5,000
Operating lease, right-of-use assets	124,275	132,615
Current operating lease liabilities	25,668	24,333
Noncurrent operating lease liabilities	127,922	$ 140,175
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
Prepaid Expenses and Other Current Assets
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Interest receivable	$ 700

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Summary of Contractual Liabilities and Revenue Recognized (Details) - USD ($) $ in Thousands	9 Months Ended
	May 01, 2021	Aug. 01, 2020
Deferred Revenue Arrangement [Line Items]
Deferred revenue	$ 19,985	$ 13,059
Upfront Styling Fees
Deferred Revenue Arrangement [Line Items]
Deferred revenue	13,469	9,119
Revenue recognized	9,110
Style Pass annual fees
Deferred Revenue Arrangement [Line Items]
Deferred revenue	4,099	2,711
Revenue recognized	2,358
Direct Orders
Deferred Revenue Arrangement [Line Items]
Deferred revenue	2,417	1,229
Revenue recognized	947
Gift card liability
Deferred Revenue Arrangement [Line Items]
Deferred revenue	10,608	8,590
Revenue recognized	2,602
Deferred revenue
Deferred Revenue Arrangement [Line Items]
Deferred revenue	19,985	13,059
Other current liabilities
Deferred Revenue Arrangement [Line Items]
Deferred revenue	5,158	$ 2,577
Revenue recognized	$ 1,851

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value of Available-for-sale Securities (Details) - USD ($) $ in Thousands	May 01, 2021	Aug. 01, 2020
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 177,517	$ 236,491
Gross Unrealized Gains	310	1,649
Gross Unrealized Losses	(17)	(6)
Fair Value	177,810	238,134
U.S. Treasury securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	51,652	67,335
Gross Unrealized Gains	115	516
Gross Unrealized Losses	0	(1)
Fair Value	51,767	67,850
Certificates of deposit
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	9,200	6,150
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	9,200	6,150
Commercial paper
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	16,587	35,331
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	16,587	35,331
Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	10,599	44,854
Gross Unrealized Gains	41	410
Gross Unrealized Losses	(6)	(4)
Fair Value	10,634	45,260
Corporate bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	89,479	82,821
Gross Unrealized Gains	154	723
Gross Unrealized Losses	(11)	(1)
Fair Value	$ 89,622	$ 83,543

Fair Value Measurements - Fai_2

Fair Value Measurements - Fair Value of Available-for-Sale Securities by Contractual Maturity (Details) - USD ($) $ in Thousands	May 01, 2021	Aug. 01, 2020
Debt Securities, Available-for-sale [Line Items]
One Year or Less	$ 98,189	$ 143,037
Over One Year Through Five Years	79,621	95,097
Over Five Years	0	0
Total	177,810	238,134
U.S. Treasury securities
Debt Securities, Available-for-sale [Line Items]
One Year or Less	39,760	38,794
Over One Year Through Five Years	12,007	29,056
Over Five Years	0	0
Total	51,767	67,850
Certificates of deposit
Debt Securities, Available-for-sale [Line Items]
One Year or Less	9,200	6,150
Over One Year Through Five Years	0	0
Over Five Years	0	0
Total	9,200	6,150
Commercial paper
Debt Securities, Available-for-sale [Line Items]
One Year or Less	16,587	35,331
Over One Year Through Five Years	0	0
Over Five Years	0	0
Total	16,587	35,331
Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
One Year or Less	0	6,657
Over One Year Through Five Years	10,634	38,603
Over Five Years	0	0
Total	10,634	45,260
Corporate bonds
Debt Securities, Available-for-sale [Line Items]
One Year or Less	32,642	56,105
Over One Year Through Five Years	56,980	27,438
Over Five Years	0	0
Total	$ 89,622	$ 83,543

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 01, 2021	Aug. 01, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments at fair value	$ 177,810	$ 238,134
Assets at fair value	201,492	240,528
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets at fair value	75,449	70,244
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets at fair value	126,043	170,284
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	51,767	67,850
Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments at fair value	9,200	6,150
Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments at fair value	16,587	35,331
Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments at fair value	10,634	45,260
Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments at fair value	89,622	83,543
Money market funds | Cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents at fair value	23,682	2,394
U.S. Treasury securities | Cash equivalents
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 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents at fair value	23,682	2,394
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	0	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
U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments at fair value	51,767	67,850
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	51,767	67,850
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
Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments at fair value	9,200	6,150
Certificates of deposit | Fair Value, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments at fair value	0	0
Certificates of deposit | Fair Value, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments at fair value	9,200	6,150
Certificates of deposit | Fair Value, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments at fair value	0	0
Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments at fair value	16,587	35,331
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	16,587	35,331
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
Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments at fair value	10,634	45,260
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	10,634	45,260
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	89,622	83,543
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	89,622	83,543
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

Accrued Liabilities - Schedule

Accrued Liabilities - Schedule of Accrued Liabilities (Details) - USD ($) $ in Thousands	May 01, 2021	Aug. 01, 2020
Payables and Accruals [Abstract]
Compensation and related benefits	$ 20,850	$ 11,987
Advertising	14,060	14,979
Sales taxes	11,942	7,134
Shipping and freight	13,129	8,624
Accrued accounts payable	7,874	5,892
Inventory purchases	29,135	15,427
Other	21,669	13,547
Total accrued liabilities	$ 118,659	$ 77,590

Accrued Liabilities - Narrative

Accrued Liabilities - Narrative (Details) - California Styling Organization - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	May 01, 2021	Aug. 01, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring charges		$ 4.8
Payments for restructuring	$ 3.1	$ 1.7

Credit Agreements (Details)

Credit Agreements (Details) - Senior Revolving Credit Facility - USD ($)	Jun. 02, 2021	Jun. 30, 2020
2020 Credit Agreement
Debt Instrument [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
2020 Credit Agreement | Federal Funds Rate
Debt Instrument [Line Items]
Basis spread on variable rate		0.50%
2020 Credit Agreement | Eurodollar
Debt Instrument [Line Items]
Basis spread on variable rate		1.00%
2020 Credit Agreement | Minimum
Debt Instrument [Line Items]
Commitment fee percentage		0.25%
2020 Credit Agreement | Minimum | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate		2.25%
2020 Credit Agreement | Minimum | Eurodollar Applicable Margin Rate
Debt Instrument [Line Items]
Basis spread on variable rate		1.25%
2020 Credit Agreement | Maximum
Debt Instrument [Line Items]
Commitment fee percentage		0.30%
2020 Credit Agreement | Maximum | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate		2.50%
2020 Credit Agreement | Maximum | Eurodollar Applicable Margin Rate
Debt Instrument [Line Items]
Basis spread on variable rate		1.50%
Amended Credit Agreement | Subsequent event
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 100,000,000
Credit sublimit	30,000,000
Swingline provision	50,000,000
Option increase amount	$ 150,000,000
Commitment fee percentage	0.25%
Amended Credit Agreement | London Interbank Offered Rate (LIBOR) | Subsequent event
Debt Instrument [Line Items]
Basis spread on variable rate	2.25%
Amended Credit Agreement | Federal Funds Rate | Subsequent event
Debt Instrument [Line Items]
Basis spread on variable rate	0.50%
Amended Credit Agreement | Eurodollar | Subsequent event
Debt Instrument [Line Items]
Basis spread on variable rate	1.00%
Amended Credit Agreement | Eurodollar Applicable Margin Rate | Subsequent event
Debt Instrument [Line Items]
Basis spread on variable rate	1.25%

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) ft² in Millions, $ in Millions	1 Months Ended	2 Months Ended
	Nov. 30, 2020USD ($)ft²	Dec. 10, 2018lawsuit
Commitments and Contingencies Disclosure [Abstract]
Area of leased space | ft²	0.7
Operating lease, cost | $	$ 33.1
Number of lawsuits | lawsuit		4

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	May 01, 2021	May 02, 2020	May 01, 2021	May 02, 2020
Changes in Accumulated Other Comprehensive Income (Loss) By Component
Stockholders' equity, beginning balance	$ 433,534	$ 438,910	$ 401,037	$ 396,000
Other comprehensive income (loss) before reclassifications	25	(778)	679	1,705
Amounts reclassified from AOCI	(17)	(1)	(131)	(3)
Total other comprehensive income (loss), net of tax	8	(779)	548	1,702
Stockholders' equity, ending balance	429,382	422,580	429,382	422,580
Tax (benefit) expense for gains and losses on available-for-sale securities		126		259
Total
Changes in Accumulated Other Comprehensive Income (Loss) By Component
Stockholders' equity, beginning balance	3,268	2,294	2,728	(187)
Total other comprehensive income (loss), net of tax	8	(779)	548	1,702
Stockholders' equity, ending balance	3,276	1,515	3,276	1,515
Available-for-sale Securities
Changes in Accumulated Other Comprehensive Income (Loss) By Component
Stockholders' equity, beginning balance	162	466	1,213	391
Other comprehensive income (loss) before reclassifications	(282)	995	(1,219)	1,072
Amounts reclassified from AOCI	(17)	(1)	(131)	(3)
Total other comprehensive income (loss), net of tax	(299)	994	(1,350)	1,069
Stockholders' equity, ending balance	(137)	1,460	(137)	1,460
Foreign Currency Translation
Changes in Accumulated Other Comprehensive Income (Loss) By Component
Stockholders' equity, beginning balance	3,106	1,828	1,515	(578)
Other comprehensive income (loss) before reclassifications	307	(1,773)	1,898	633
Amounts reclassified from AOCI	0	0	0	0
Total other comprehensive income (loss), net of tax	307	(1,773)	1,898	633
Stockholders' equity, ending balance	$ 3,413	$ 55	$ 3,413	$ 55

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	May 01, 2021	May 02, 2020	May 01, 2021	May 02, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant date fair value of options (in dollars per share)			$ 27.74	$ 11.35
Unrecognized compensation expense related to unvested options and RSUs, net of forfeitures	$ 314.2		$ 314.2
Unrecognized compensation expense related to unvested options weighted average recognition period			2 years 6 months
Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 28.8	$ 19.6	$ 73.5	$ 47.5
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options exercisable period			10 years
2011 Equity Incentive Plan | Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee stock options vesting percentage			25.00%
Award vesting period			3 years
2017 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for issuance (in shares)	27,395,455		27,395,455
2017 Incentive Plan | Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee stock options vesting percentage			25.00%
Award vesting period			3 years
Options exercisable period			10 years
2017 Incentive Plan | Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee stock options vesting percentage			25.00%
Award vesting period			3 years
2019 Inducement Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for issuance (in shares)	4,750,000		4,750,000

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock Option Activity Under 2011, 2017, and 2019 Stock Plan (Details) - 2011, 2017, and 2019 Plans $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	May 01, 2021USD ($)$ / sharesshares	Aug. 01, 2020USD ($)$ / sharesshares
Number of Options
Outstanding, beginning balance (in shares) | shares	6,817,196
Granted (in shares) | shares	463,376
Exercised (in shares) | shares	(1,839,804)
Cancelled (in shares) | shares	(1,163,950)
Outstanding, ending balance (in shares) | shares	4,276,818	6,817,196
Weighted- Average Exercise Price
Outstanding, beginning balance (in dollars per share) | $ / shares	$ 17.10
Granted (in dollars per share) | $ / shares	55.06
Exercised (in dollars per share) | $ / shares	12.36
Cancelled (in dollars per share) | $ / shares	22.19
Outstanding, ending balance (in dollars per share) | $ / shares	$ 21.87	$ 17.10
Weighted- Average Remaining Contractual Life (in Years)
Outstanding, weighted-average remaining contractual life	7 years 2 months 26 days	7 years 4 months 28 days
Aggregate Intrinsic Value (in thousands)
Outstanding, aggregate intrinsic value | $	$ 97,183	$ 40,252

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 01, 2021$ / sharesshares
Class A Common Stock
Unvested, beginning balance (in shares) | shares	9,123,341
Granted (in shares) | shares	5,855,934
Vested (in shares) | shares	(1,476,851)
Forfeited (in shares) | shares	(2,253,436)
Unvested, ending balance (in shares) | shares	11,248,988
Weighted- Average Grant Date Fair Value
Unvested, beginning balance (in dollars per share) | $ / shares	$ 20.11
Granted (in dollars per share) | $ / shares	39.39
Vested (in dollars per share) | $ / shares	21.44
Forfeited (in dollars per share) | $ / shares	22.96
Unvested, ending balance (in dollars per share) | $ / shares	$ 29.39

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 01, 2021	May 02, 2020	May 01, 2021	May 02, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	5 years 9 months 18 days	6 years 2 months 12 days
Volatility	55.50%	50.10%
Volatility, minimum			55.50%	50.10%
Volatility, maximum			55.90%	51.20%
Risk free interest rate	0.60%	1.40%
Risk free interest rate, minimum			0.30%	1.40%
Risk free interest rate, maximum			0.60%	1.70%
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)			5 years 3 months 18 days	5 years 6 months
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)			6 years 3 months 18 days	6 years 2 months 12 days

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 01, 2021	May 02, 2020	May 01, 2021	May 02, 2020
Income Tax Disclosure [Abstract]
Income (loss) before income taxes	$ (23,380)	$ (45,252)	$ (81,773)	$ (34,326)
Provision (benefit) for income taxes	$ (4,534)	$ (11,349)	$ (51,429)	$ (11,676)
Effective tax rate	19.40%	25.10%	62.90%	34.00%

Earnings (Loss) Per Share Att_3

Earnings (Loss) Per Share Attributable to Common Stockholders - Additional Information (Details)	9 Months Ended
	May 01, 2021voteclass
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 01, 2021	May 02, 2020	May 01, 2021	May 02, 2020
Numerator:
Net income (loss)	$ (18,846)	$ (33,903)	$ (30,344)	$ (22,650)
Net income (loss) attributable to common stockholders - basic	(18,846)	(33,903)	(30,344)	(22,650)
Net income (loss) attributable to common stockholders - diluted	$ (18,846)	$ (33,903)	$ (30,344)	$ (22,650)
Denominator:
Weighted-average shares of common stock - basic (in shares)	106,696,220	102,650,155	105,457,907	102,084,729
Weighted-average shares of common stock - diluted (in shares)	106,696,220	102,650,155	105,457,907	102,084,729
Earnings (loss) per share attributable to common stockholders:
Basic (in dollars per share)	$ (0.18)	$ (0.33)	$ (0.29)	$ (0.22)
Diluted (in dollars per share)	$ (0.18)	$ (0.33)	$ (0.29)	$ (0.22)
Class A Common Stock
Numerator:
Net income (loss)	$ (12,142)	$ (18,714)	$ (18,423)	$ (12,370)
Net income (loss) attributable to common stockholders - basic	(12,142)	(18,714)	(18,423)	(12,370)
Net income (loss) attributable to common stockholders - diluted	$ (12,142)	$ (18,714)	$ (18,423)	$ (12,370)
Denominator:
Weighted-average shares of common stock - basic (in shares)	68,743,748	56,661,027	64,029,465	55,754,290
Weighted-average shares of common stock - diluted (in shares)	68,743,748	56,661,027	64,029,465	55,754,290
Earnings (loss) per share attributable to common stockholders:
Basic (in dollars per share)	$ (0.18)	$ (0.33)	$ (0.29)	$ (0.22)
Diluted (in dollars per share)	$ (0.18)	$ (0.33)	$ (0.29)	$ (0.22)
Class B Common Stock
Numerator:
Net income (loss)	$ (6,704)	$ (15,189)	$ (11,921)	$ (10,280)
Net income (loss) attributable to common stockholders - basic	(6,704)	(15,189)	(11,921)	(10,280)
Net income (loss) attributable to common stockholders - diluted	$ (6,704)	$ (15,189)	$ (11,921)	$ (10,280)
Denominator:
Weighted-average shares of common stock - basic (in shares)	37,952,472	45,989,128	41,428,442	46,330,439
Weighted-average shares of common stock - diluted (in shares)	37,952,472	45,989,128	41,428,442	46,330,439
Earnings (loss) per share attributable to common stockholders:
Basic (in dollars per share)	$ (0.18)	$ (0.33)	$ (0.29)	$ (0.22)
Diluted (in dollars per share)	$ (0.18)	$ (0.33)	$ (0.29)	$ (0.22)

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 01, 2021	May 02, 2020	May 01, 2021	May 02, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted earnings (loss) per share (in shares)	11,357,884	15,442,163	11,935,297	14,775,144
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)	8,384,774	8,625,483	8,725,064	8,027,468
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)	1,445,964	3,064,975	1,352,936	3,002,050
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)	1,527,146	3,751,705	1,857,297	3,745,626