KASPIEN HOLDINGS INC - KSPN STOCK NEWS

Kaspien Holdings Inc. (NASDAQ: KSPN) has announced a securities purchase agreement with an institutional investor for the sale of 638,978 shares at $3.13 per share and 1,818,182 shares at $3.30 per share in a registered direct offering. Additionally, the investor will receive warrants for 2,457,160 shares at an exercise price of $3.13. The gross proceeds from these offerings are expected to be around $8 million, with closing anticipated on or about July 14, 2022. Aegis Capital Corp. is acting as the Exclusive Placement Agent for these offerings.

Kaspien Holdings Inc. (KSPN) reported a net revenue decline of 21.7% to $31.8 million for Q1 fiscal 2022, primarily due to supply challenges in its Fulfillment by Amazon segment. Gross profit fell 30.1% to $6.9 million, with merchandise margins decreasing to 44.2%. Despite these challenges, the company achieved $3 million in annualized cost reductions and a 55% revenue increase in its Private Label Brands. Kaspien expressed optimism for long-term growth, citing renewed contracts with key partners and a strategic focus on high-value opportunities.

Kaspien Holdings Inc. (KSPN) will release its fiscal Q1 2022 financial results on June 14, 2022, after the market close. The announcement will include financial outcomes, business outlook, and additional corporate updates. Kaspien will also file its SEC Form 10-Q on the same day, with all documents accessible through the Investor Relations section of their website. As a prominent e-commerce growth platform, Kaspien has been optimizing brands on major marketplaces using AI-driven software.

Kaspien Holdings Inc. (KSPN) reported fiscal Q4 and full-year results showing a 20.9% decrease in net revenue to $36 million, impacted by supply chain challenges. Gross profit fell 45% to $6.1 million. SG&A expenses rose 8% to $11.5 million. The net loss widened to $5.8 million, or $2.33 per share, compared with a minimal loss of $0.1 million in the prior year. For the fiscal year, revenue decreased 9% to $143.7 million, with a net loss of $8 million. Kaspien aims to enhance profitability through a refined corporate strategy emphasizing retail and agency operations.

Kaspien Holdings Inc. (KSPN) will announce its fourth-quarter and full-year financial results for the period ending January 29, 2022, on April 29, 2022. The company plans to provide a comprehensive press release detailing financial results and business outlook, along with updates in their annual SEC Form 10-K filing. Investors can access this information via the Investor Relations section of Kaspien's website.

Kaspien Holdings Inc. (NASDAQ: KSPN) announced the promotion of Brock Kowalchuk to interim Chief Executive Officer, effective March 11, 2022. Kowalchuk joined Kaspien in 2018 as Senior Vice President of Finance and later became Chief Financial Officer. The Board expressed confidence in his leadership, noting his deep understanding of the company and its partners. Kowalchuk emphasized Kaspien's strong heritage and commitment to leveraging its talented workforce and sales data to enhance growth. For further details, refer to the Form 8-K filed on the same date.

Kaspien Holdings Inc. (NASDAQ: KSPN) announced a significant expansion of its direct-to-consumer (DTC) vertical, aiming to enhance its e-commerce capabilities. The company will build a robust infrastructure for the sale and fulfillment of products via direct websites and off-marketplace channels. This initiative will be supported by new leadership hires from e-commerce and logistics sectors, including Rett Clevenger as Director of Marketing and Claudio Saenz as General Manager of Retail. Kaspien aims for a holistic approach, integrating DTC strategies alongside large online marketplaces.

Kaspien Holdings Inc. (NASDAQ: KSPN) reported its fiscal Q3 results for 2021, with subscription gross merchandise value (GMV) rising 15% to $30.1 million. Overall net revenue decreased by 17% to $32.2 million, attributed mainly to ongoing supply chain challenges in its Fulfillment by Amazon segment. The company recorded a net loss of $886,000, or $0.36 per diluted share, compared to a net income of $2.6 million in the same period last year. Despite challenges, Kaspien's private label brands saw a 38% growth, while its subscription base increased 47% year-over-year.

Kaspien Holdings Inc. (NASDAQ: KSPN) has partnered with Belly Bandit to launch "Shop Proof," a new maternity and postpartum apparel line. Kaspien will serve as Belly Bandit's primary Amazon seller services agency, focusing on sales growth, strategy, and marketing for both existing products and new launches. Having previously worked together from April 2015 to May 2020, this partnership aims to enhance Belly Bandit's brand visibility and operational expertise on Amazon, particularly during the holiday season. Kaspien's capabilities in logistics and marketing support will be pivotal in driving this partnership forward.