By Exec Edge Editorial Staff
a.k.a. Brands Holding Corp. (NYSE: AKA) shares soared 8.6 percent after the company raised its full year outlook.
The fashion brand accelerator said it sees net sales between $575 million and $605 million for 2023.
Net sales in the first quarter decreased 18.8% to $120.5 million, compared to $148.3 million in the first quarter of 2022.
“As we look ahead, we believe that key to building durable next-generation brands is to be everywhere our customers are,” said Ciaran Long, interim CEO and CFO. “While direct to consumer remains our priority, we are excited by the initial results of our omnichannel initiatives across our brands.”
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