a.k.a Brands Holding Stock Rises On Q4 Sales Numbers, CEO Appointment: Retail's Excited

The company named Ciaran Long as CEO effective immediately.

a.k.a Brands Holding Stock Rises On Q4 Sales Numbers, CEO Appointment: Retail's Excited

Shares of a.k.a Brands Holding Corp. ($AKA) surged nearly 16% on Monday following the release of the apparel company's preliminary results for its fourth quarter and CEO appointment, lifting retail sentiment.

a.k.a. said its net sales increased 6.8% to about $159.0 million compared to the fourth quarter of 2023. That compares to $153 million expected by Wall Street analysts, according to Fly.com.  For the fiscal 2024, it expects sales of $574.7 million. That compares to consensus estimates of $569.74 million.

In the U.S., its net sales rose 21.6% to about $96.1 million for Q4 from the same period a year ago.

The company named Ciaran Long as CEO effective immediately. Long has served as interim CEO and CFO since March 2023. 

According to the company statement, it now expects adjusted EBITDA to be between $6 million and $6.2 million in the fourth quarter, compared to $1.3 million in the fourth quarter of 2023.

“Our strong fourth quarter preliminary results exceeded our expectations on both the top and bottom lines,” said Long. “Net sales increased 6.8% to $159 million, with notable strength in our U.S. business where sales grew 21.6% to $96 million. Further demonstrating the power of our business model, we are raising our adjusted EBITDA expectations to be between $6.0 and $6.2 million.”

Retail sentiment on Stocktwits was in the 'extremely bullish' zone while with message volumes in the 'extremely high' category.

Screenshot 2025-01-14 at 1.55.32 PM.png AKA sentiment meter and message volumes on Jan 13 as of 3:27 am ET

The company also promoted Kevin Grant to the position of CFO.

a.k.a Brands operates such as fashion brands as Princess Polly, Culture Kings, and Petal & Pup.

a.k.a. Brands stock is up 1.7% year-to-date.

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