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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) announced its preliminary unaudited results for Q1 2023, reporting net sales of approximately
a.k.a. Brands Holding Corp. reported its fourth quarter and full year 2022 results, with net sales declining 18.3% to $149.1 million in Q4, leading to a net loss of $(173.9) million or $(1.35) per share. For the full year, net sales rose 8.8% to $611.7 million, but net loss expanded to $(176.7) million or $(1.37) per share. Adjusted EBITDA decreased significantly, from $62.4 million in 2021 to $31.9 million in 2022. The firm announced new omnichannel initiatives for 2023, including a new store opening and wholesale test plans. The company expects 2023 net sales of $570-$600 million and adjusted EBITDA of $35-$37 million.
a.k.a. Brands Holding Corp. (NYSE: AKA) will announce its fourth quarter and fiscal 2022 financial results on
a.k.a. Brands Holding Corp. (NYSE: AKA) reported a 3.7% decline in net sales for Q3 2022, totaling $155.8 million, while active customers increased by 23% year-over-year. The net loss narrowed to $(0.1) million, with adjusted EBITDA dropping to $9.2 million or 5.9% of net sales. Gross margin improved to 55.7%. The company anticipates Q4 net sales between $158 million and $165 million, with adjusted EBITDA of $11.2 million to $13 million.
a.k.a. Brands Holding Corp. (NYSE: AKA) has announced the opening of its first U.S. Culture Kings flagship store in Las Vegas, set to open on November 5. The approximately 14,000-square-foot store features innovative retail experiences, including a recording studio, live DJs, and exclusive merchandise from over 18 international brands. CEO Simon Beard expressed confidence that this immersive shopping concept will enhance growth and brand awareness. The store aims to redefine traditional retail with engaging experiences for consumers, aligning with the brand's ethos of 'retailtainment.'
a.k.a. Brands Holding Corp. (NYSE: AKA) will report its third quarter 2022 financial results on
a.k.a. Brands Holding Corp. (NYSE: AKA) will participate in a fireside chat on September 21, 2022, at 5:00 pm ET during the Wells Fargo Consumer Conference. CEO Jill Ramsey and CFO Ciaran Long will represent the company. The event will be webcast live and accessible via the Company’s Investor Relations website, with an archive available post-event. a.k.a. Brands focuses on next-generation fashion brands, targeting Gen Z and millennials with unique merchandise and social content.
a.k.a. Brands Holding Corp. (NYSE: AKA) is set to participate in a fireside chat during the Piper Sandler Growth Frontiers Conference on September 14, 2022, at 2:30 pm ET. Chief Financial Officer Ciaran Long will lead the discussion, which will be accessible through the Company's Investor Relations website. a.k.a. Brands acts as a brand accelerator for next-generation fashion brands targeting Gen Z and millennials, including notable names like Princess Polly and Culture Kings.
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