Welcome to our dedicated page for a.k.a. Brands Holding news (Ticker: AKA), a resource for investors and traders seeking the latest updates and insights on a.k.a. Brands Holding stock.
a.k.a. Brands Holding Corp. (NYSE: AKA) is a dynamic online fashion retailer specializing in acquiring and accelerating the growth of digitally native fashion brands that cater to Gen Z and Millennial audiences. Its portfolio includes four distinctive brands: Princess Polly, Petal & Pup, Culture Kings, and mnml. These brands offer unique merchandise and create compelling social content to engage their target demographics.
a.k.a. Brands leverages its next-generation retail platform to help each brand expand its market reach and improve profitability. The company’s operations are primarily concentrated in Australia and New Zealand, but it also has a growing presence in the U.S. market, which accounted for approximately 60% of its total net sales in recent quarters.
In recent developments, the company has implemented a share repurchase program, authorized to buy back up to $2 million in shares, signaling confidence in its financial stability. Another significant milestone includes the opening of Princess Polly's first U.S. store in Los Angeles, which has exceeded revenue expectations and fostered deeper customer connections.
Financially, a.k.a. Brands reported a net sales decrease of 9.6% year-over-year for the third quarter of 2023, totaling $140.8 million. However, U.S. net sales grew by 2.0% in the same period, highlighting the region's potential for growth. The company continues to strengthen its balance sheet by reducing inventory and paying down debt, reporting a 21% reduction in inventory and a 26% decrease in debt year-to-date.
Looking ahead, a.k.a. Brands aims to expand its omnichannel strategy with more physical store openings and enhanced marketplace partnerships. The company remains focused on driving operational efficiencies and strengthening its financial position to deliver long-term shareholder value.
a.k.a. Brands Holding Corp. (NYSE: AKA) reported its Q3 2024 financial results. Net sales rose 6.4% to $149.9 million from Q3 2023, with U.S. sales up 19.5%. The company saw a net loss of $(5.4) million, or $(0.51) per share, an improvement from the $(70.4) million loss in Q3 2023. Adjusted EBITDA grew to $8.2 million, a 75% increase. Active customers grew 14.1% over the past twelve months.
Princess Polly opened three stores in 2024 and plans to open its first NYC store in early 2025. Petal & Pup expanded into 40 Nordstrom stores. Gross margin improved to 58.0% from 55.4%, driven by full-price selling.
However, selling, marketing, and G&A expenses increased. Debt rose to $111.9 million, and cash flow from operations was negative at $(6.3) million. For fiscal 2024, the company expects net sales between $567 million and $572 million, and adjusted EBITDA between $22 million and $23 million.
Princess Polly, part of a.k.a. Brands Holding Corp. (NYSE: AKA), announced plans to open a new store in New York City's SoHo neighborhood in early 2025. The 8,000-square-foot location at 514 Broadway will feature over 5,000 styles across two levels, including apparel, footwear, and accessories. The store will include Instagrammable spaces, a permanent photo booth, LED screens, and 12 fitting rooms. This expansion follows the brand's first physical location in Los Angeles in 2023 and planned openings in Scottsdale, San Diego, Boston, Santa Clara, and Orange County, marking significant growth in Princess Polly's U.S. brick-and-mortar presence.
a.k.a. Brands (NYSE: AKA) has announced it will release its third quarter 2024 financial results after market close on Thursday, November 7, 2024. The company will host a webcast with management at 4:30 p.m. Eastern Time (1:30 p.m. Pacific Time). Investors can access the webcast through the company's website at ir.aka-brands.com or join via phone. A replay will be available until November 14, 2024, through the website or by calling the provided numbers.
a.k.a. Brands Holding Corp. (NYSE: AKA), a brand accelerator of next generation fashion brands, has announced its participation in the upcoming Sidoti Micro Cap Conference. Interim CEO and CFO Ciaran Long is scheduled to present on Wednesday, August 14, 2024, at 3:15 pm Eastern Time.
The presentation will be webcast live and can be accessed on the company's Investor Relations website at https://ir.aka-brands.com. An online archive of the presentation will also be available on the site following the event.
Princess Polly, an Australian-born fashion brand under a.k.a. Brands Holding Corp. (NYSE: AKA), has announced plans to open five new U.S. stores in the second half of 2024. The expansion includes locations in Scottsdale, San Diego, Boston, Santa Clara, and Irvine. Each store will offer over 250 apparel looks and 200 accessories and footwear styles, featuring interactive elements like selfie mirrors and digital screens. The brand aims to enhance customer engagement through exclusive events and campus roadshows. This expansion builds on the success of Princess Polly's first U.S. store in Los Angeles and reflects the brand's growing popularity among Gen Z consumers in the United States.
a.k.a. Brands Holding Corp. (NYSE: AKA) reported strong Q2 2024 financial results, with net sales increasing 9.5% to $148.9 million. U.S. net sales grew 19.3% year-over-year. The company saw an 11.7% growth in active customers on a trailing twelve-month basis. Adjusted EBITDA rose 44% to $8.0 million. Despite these positive results, the company reported a net loss of $2.3 million, an improvement from the $5.0 million loss in Q2 2023.
a.k.a. Brands is expanding its physical presence, with plans to open five Princess Polly stores in 2024. The company's omni-channel strategy is showing success, particularly with Petal & Pup's expansion to major retail platforms. For Q3 2024, the company expects net sales between $141-145 million and adjusted EBITDA between $6.0-7.0 million.
a.k.a. Brands Holding Corp. (NYSE: AKA), a brand accelerator of next generation fashion brands, has announced it will release its second quarter 2024 financial results after market close on Wednesday, August 7, 2024. The company will host a webcast with management at 4:30 p.m. Eastern Time (1:30 p.m. Pacific Time) on the same day.
Investors and analysts can access the webcast through the company's website at ir.aka-brands.com or by calling (877) 858-5495 or (201) 689-8853. A replay of the conference call will be available approximately three hours after the call concludes, accessible via the company website or by dialing (877) 660-6853 or (201) 612-7415 for international callers, using conference ID 13747420. The replay will remain available until August 14, 2024.
A.k.a. Brands Holding Corp. (NYSE: AKA), a brand accelerator for next-generation fashion brands, announced its participation in the SHARE Series at the NYSE. The event is scheduled for Friday, June 14, 2024, at 10:55 am Eastern Time. Interim CEO and CFO Ciaran Long will represent the company in a fireside chat. The session will be webcast live, accessible via the company's Investor Relations website, with an archive available post-event.
a.k.a. Brands Holding Corp. reported a 6% increase in U.S. net sales and a 5.5% growth in active customer base. The company reduced inventory by 19% and debt by 22% year-over-year. Despite a 3.0% decrease in net sales to $116.8 million, the U.S. saw a 6.2% growth. Adjusted EBITDA was $0.9 million, down from $2.2 million in Q1 2023. The company remains optimistic about future growth opportunities.
FAQ
What is the current stock price of a.k.a. Brands Holding (AKA)?
What is the market cap of a.k.a. Brands Holding (AKA)?
What is a.k.a. Brands Holding Corp.?
Which brands are part of a.k.a. Brands' portfolio?
Where does a.k.a. Brands derive most of its revenue?
What recent strategic initiatives has a.k.a. Brands undertaken?
How did a.k.a. Brands perform financially in the third quarter of 2023?
What are the future plans for a.k.a. Brands?
How is a.k.a. Brands improving its financial position?
What is the significance of the share repurchase program?
What impact did the opening of the Princess Polly store in Los Angeles have?
What are the main goals of a.k.a. Brands going forward?
