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a.k.a. Brands Holding Corp. Reports Second Quarter 2023 Financial Results

a.k.a. Brands Holding Corp. (AKA) 
Company Research Source: Business Wire
Strengthens Balance Sheet Through Inventory Reduction and $12.5 Million Debt PaydownExpands Princess Polly Wholesale Partnership with PacSun SAN FRANCISCO--(BUSINESS WIRE)--a.k.a. Brands Holding Corp. (NYSE: AKA), a brand accelerator of next generation fashion brands, today announced financial results for the second quarter ended June 30, 2023.Results for the Second QuarterNet sales decreased 14.2% to $136.0 million, compared to $158.5 million in the second quarter of 2022; down 11% in Constant Currency1.In the U.S., net sales decreased 2.8% compared to the second quarter of 2022 and grew 12.3% on a two-year stack.Net loss was $(5.0) million or $(0.04) per share, and (3.7%) of net sales in the second quarter of 2023, compared to net loss of $(4.2) million or $(0.03) per share, and (2.7%) of net sales in the second quarter of 2022.Adjusted EBITDA2 was $5.6 million, or 4.1% of net sales, compared to $5.9 million, or 3.7% of net sales in the second quarter of 2022.“We continue to exec Show less Read more
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