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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) reported a 6.2% increase in net sales to $158.5 million for Q2 2022, compared to $149.2 million in Q2 2021. However, the company incurred a net loss of $(4.2) million or $(0.03) per share, down from a net income of $2.4 million or $0.03 per share in the prior year. Adjusted EBITDA fell significantly to $5.9 million, or 3.7% of net sales, compared to $19.4 million or 13.0% in Q2 2021. The company forecasts FY 2022 net sales between $625M and $635M, and Q3 projections of $150M to $153M in net sales.
a.k.a. Brands Holding Corp. (NYSE: AKA) will release its second quarter 2022 financial results after market close on August 10, 2022. A conference call with management is scheduled for 4:30 p.m. Eastern Time, where it will discuss the financial performance. The call can be accessed via the company's website or by phone. A replay will be available three hours post-call, lasting until August 17, 2022.
The company focuses on next-generation fashion brands targeting Gen Z and millennials, including brands like Princess Polly and Culture Kings.
a.k.a. Brands Holding Corp. (NYSE: AKA) experienced a net sales increase of 6% year-on-year for Q2 2022, reaching approximately
a.k.a. Brands Holding Corp. (NYSE: AKA) has announced the appointment of Kenneth C. White as Vice President, Head of Legal and Human Resources. White brings over 15 years of experience in legal and human resources roles within the retail sector. He previously served as Vice President, Legal at Viant and led legal affairs at Ethika. CEO Jill Ramsey expressed confidence in White's ability to enhance the company's operations, particularly in corporate governance and talent acquisition. This leadership shift aims to strengthen the company's ability to accelerate brand growth and adapt to industry changes.
A.k.a. Brands (NYSE: AKA) has appointed Jonathan Yuska as President of its Culture Kings U.S. division, enhancing its expansion efforts in the American market. With over 20 years of experience at notable brands like adidas and Reebok, Yuska will lead Culture Kings' growth, focusing on both online presence and the launch of a flagship store in Las Vegas later this year. CEO Simon Beard expressed confidence in Yuska's ability to scale the brand into a formidable global lifestyle brand, blending sports, music, and fashion.
a.k.a. Brands Holding Corp. (NYSE: AKA) has appointed Sourav Ghosh to its Board of Directors, effective immediately. Ghosh, a seasoned finance executive, brings over 20 years of leadership experience in the lodging real estate industry and has served as CFO of Host Hotels & Resorts since 2020. His expertise in finance and corporate governance is expected to strengthen a.k.a. Brands’ portfolio as the company focuses on its strategic growth initiatives. Ghosh's previous roles include leadership positions in corporate finance and strategy at Host and Starwood Hotels.
a.k.a. Brands Holding Corp. (NYSE: AKA) will participate in a fireside chat at the Cowen Future of the Consumer Conference on May 25, 2022, at 2:05 pm Eastern Time. The event will be available via live webcast on the Company’s Investor Relations website. As a brand accelerator for direct-to-consumer fashion brands targeting Gen Z and millennials, a.k.a. Brands aims to leverage its portfolio to enhance growth and profitability.
a.k.a. Brands Holding Corp. (NYSE: AKA) reported a first-quarter 2022 net sales increase of 115.6% to $148.3 million, up from $68.8 million in Q1 2021. The acquisition of Culture Kings boosted revenue by $48.9 million. Net income remained stable at $1.5 million or $0.01 per share, with adjusted EBITDA at $10.7 million (7.2% of sales). Despite a decline in gross margin to 56.8%, driven by higher freight costs, the company expects full-year net sales of $785-$805 million and EBITDA of $90-$100 million.
a.k.a. Brands Holding Corp. (NYSE: AKA) will announce its first quarter 2022 financial results on May 10, 2022, after market close. A live webcast of the management's conference call will be held at 4:30 p.m. Eastern Time and can be accessed through the company’s website. This call will be pivotal for investors seeking insights into the company’s performance and outlook, especially given its focus on DTC fashion brands targeting Gen Z and millennials.
a.k.a. Brands Holding Corp. (NYSE: AKA) has signed a lease to open its first U.S. Culture Kings flagship store in late 2022 at The Forum Shops in Las Vegas, Nevada. Culture Kings is an experiential streetwear brand from Australia, known for its vibrant store environment and unique blend of music, sports, and fashion. The upcoming flagship store will offer exclusive merchandise from third-party and proprietary brands, aiming to captivate U.S. consumers and enhance brand visibility. CEO Jill Ramsey anticipates significant growth from this venture.
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