By IPO Edge Editorial Staff
DTC fashion brands portfolio a.k.a Brands Holding Corp. (NYSE: AKA) said active customers surged in a challenging environment.
Active customers increased 23% on a last-twelve-month basis, helping the company hold revenue steady.
Net sales were flat on a constant currency basis and in U.S. dollars decreased 3.7% to $155.8 million, compared to $161.8 million in the third quarter of 2021.
I am pleased that we sequentially stabilized and improved our profitability during the third quarter despite the challenging macro environment,” said Jill Ramsey, chief executive officer, a.k.a. Brands. “Our flexible and asset-light model enables us to quickly adapt during dynamic market conditions, and we remain laser focused on identifying efficiencies in our platform while balancing growth. During the quarter, we took a number of controllable actions, including marketing spend reallocation, inventory optimizations and resource rightsizing. As we look ahead, we anticipate another challenging quarter, but I’m confident that we have great brands, next-generation merchandising and marketing strategies and the necessary discipline to deliver long-term growth.”
For the fourth quarter of 2022, the company expects net sales between $158 million and $165 million.
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