By Karen Roman
Fashion brand accelerator a.k.a. Brands Holding Corp. (NYSE: AKA) said its net sales grew 9.5% to $148.9 million, with U.S. net sales increasing 19.3%.
Adjusted EBITDA was $8 million in Q2 2024 against $5.6 million in the same period of the year prior, it said. Gross margin rose to 57.7% in comparison to 56.9%, it reported.
The company said it will open five new U.S. Princess Polly stores in 2024 in Scottsdale, Arizona; Santa Clara, San Diego and Irvine, California; and Boston, Massachusetts.
“We continued to execute against our strategic priorities with an emphasis on our customers, and I’m very pleased that our active customer base increased by nearly 12% on a trailing twelve-month basis,” said Ciaran Long, Interim CEO and CFO. “Our strong second quarter results are a clear indication that demand for our brands is strong and that we have tremendous growth opportunities ahead of us.”
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