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a.k.a. Brands Holding Corp. - AKA STOCK NEWS

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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.

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a.k.a. Brands Holding Corp. (NYSE: AKA) exceeded expectations in Q1 with net sales of $120.5 million, down 18.8% YoY. Adjusted EBITDA was $2.2 million, 1.8% of net sales. Inventory down 7% YoY and 11% since end of fiscal 2022. Full year outlook raised with net sales expected between $575 million and $605 million and adjusted EBITDA between $36 million and $38 million.
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a.k.a. Brands Holding Corp. (NYSE: AKA) announced its preliminary unaudited results for Q1 2023, reporting net sales of approximately $120 million, exceeding expectations. The company anticipates a net loss ranging from $9.7 million to $9.6 million but expects adjusted EBITDA of $2.0 million to $2.2 million, also surpassing prior forecasts. Despite this strong financial performance, a.k.a. Brands received a non-compliance notice from the NYSE for its stock price falling below $1.00. The company plans to address this deficiency, possibly through a reverse stock split, while reiterating confidence in its growth strategies. The official Q1 results will be released on May 10, 2023, followed by a conference call at 4:30 p.m. ET.

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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.

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a.k.a. Brands Holding Corp. (NYSE: AKA) will announce its fourth quarter and fiscal 2022 financial results on March 9, 2023, after market close. A conference call and webcast with management is scheduled for 4:30 p.m. Eastern Time. Investors can access the call by calling (877) 858-5495 or by visiting ir.aka-brands.com. The call replay will be available until March 16, 2023. a.k.a. Brands is a brand accelerator focusing on next-generation fashion brands, catering to Gen Z and millennials with targeted marketing strategies and exclusive merchandise.

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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.

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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.'

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a.k.a. Brands Holding Corp. (NYSE: AKA) will report its third quarter 2022 financial results on November 10, 2022, after market close. Management will host a webcast at 4:30 p.m. Eastern Time to discuss the report. Investors can access the webcast at ir.aka-brands.com, or join by phone at (877) 858-5495. A replay will be available three hours post-call until November 17, 2022. a.k.a. Brands accelerates the growth of next-gen fashion brands targeting Gen Z and millennials, including brands like Princess Polly and Culture Kings.

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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.

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FAQ

What is the current stock price of a.k.a. Brands Holding (AKA)?

The current stock price of a.k.a. Brands Holding (AKA) is $21.49 as of December 20, 2024.

What is the market cap of a.k.a. Brands Holding (AKA)?

The market cap of a.k.a. Brands Holding (AKA) is approximately 217.6M.

What is a.k.a. Brands Holding Corp.?

a.k.a. Brands Holding Corp. is an online fashion retailer that accelerates the growth of digitally native fashion brands targeting Gen Z and Millennial customers.

Which brands are part of a.k.a. Brands' portfolio?

The portfolio includes Princess Polly, Petal & Pup, Culture Kings, and mnml.

Where does a.k.a. Brands derive most of its revenue?

The company derives most of its revenue from Australia and New Zealand, but the U.S. market is also a significant and growing revenue source.

What recent strategic initiatives has a.k.a. Brands undertaken?

Recent initiatives include a share repurchase program and the opening of Princess Polly's first U.S. store in Los Angeles.

How did a.k.a. Brands perform financially in the third quarter of 2023?

The company reported net sales of $140.8 million, a 9.6% decrease year-over-year, but saw a 2.0% increase in U.S. sales.

What are the future plans for a.k.a. Brands?

Future plans include expanding its omnichannel strategy with additional store openings and strengthening marketplace partnerships.

How is a.k.a. Brands improving its financial position?

The company is reducing inventory and paying down debt, with a 21% reduction in inventory and a 26% decrease in debt year-to-date.

What is the significance of the share repurchase program?

The share repurchase program, authorized for up to $2 million, indicates the company’s confidence in its financial stability and commitment to increasing shareholder value.

What impact did the opening of the Princess Polly store in Los Angeles have?

The store's opening exceeded revenue expectations and has helped foster deeper customer connections.

What are the main goals of a.k.a. Brands going forward?

The main goals include increasing customer engagement, expanding market reach, and enhancing profitability through strategic initiatives and operational efficiencies.

a.k.a. Brands Holding Corp.

NYSE:AKA

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217.60M
687.37k
36.55%
57.68%
0.47%
Apparel Retail
Retail-catalog & Mail-order Houses
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United States of America
SAN FRANCISCO