a.k.a. Brands Holding Corp. (AKA), renowned for its portfolio of forward-thinking fashion brands, reported a preliminary increase in net sales by 6.8% for the fourth quarter, reaching approximately $159.0 million, compared to $148.9 million for the same period last year.
According to data compiled by Thomson Reuters, market analysts had projected sales to be around $153.99 million, though these projections typically do not consider one-time adjustments.
In the U.S. market, the company's net sales experienced a significant uptick of 21.6%, amounting to roughly $96.1 million from the previous year's $79.1 million.
Additionally, the company has adjusted its expectations for EBITDA in the fourth quarter, projecting it to range from $6.0 million to $6.2 million, a notable increase from $1.3 million in the prior year.
Looking ahead to fiscal year 2024, the company anticipates the adjusted EBITDA to be in the vicinity of $23.0 million to $23.2 million, up from $13.8 million in fiscal year 2023. This upward revision is attributed to the robustness of their business model.
In a separate announcement, a.k.a. Brands has appointed Ciaran Long as the new Chief Executive Officer, effective immediately.
