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a.k.a. Brands reports higher second-quarter gross margin and narrower loss
Second-quarter gross margin rose to 61.1%, helped by lower tariff rates and stronger full-price selling, as the company reiterated its fiscal outlook for $625 million to $635 million in net sales.
a.k.a. Brands Holding Corp. said its second-quarter gross margin increased to 61.1% from 57.5% a year earlier, citing lower tariff rates and improved full price selling on its streetwear brands, according to Yahoo Finance.
The company reported a second-quarter net loss of $0.2 million, or $0.01 per share, compared with a net loss of $3.6 million, or $0.34 per share, in the prior year period. Adjusted EBITDA rose to $8.7 million from $7.5 million.
a.k.a. Brands also reiterated its annual fiscal outlook, predicting net sales between $625 million and $635 million, and adjusted EBITDA of $30 million to $32 million.
The company said its second-quarter performance delivered net sales of $160.1 million and adjusted EBITDA growth of 16% year-over-year, supported by expanded distribution across stores, wholesale and marketplace channels, along with operational improvements and continued financial discipline, per Yahoo Finance.