A.K.A Brands U.S. Net Sales Grew 6% in First Quarter

By Daniella Parra

a.k.a. Brands Holding Corp. (NYSE: AKA), a company that accelerates fashion brands, said U.S. net sales increased 6.2% compared to the first quarter.

Adjusted EBITDA was $0.9 million in the first quarter, compared to $2.2 million and net sales decreased 3.0% to $116.8 million, driven by a decline in the average order value, it said.

The company said it grew its active customer base by 5.5% year over year, and looks forward to the opening of three Princess Polly Stores in 2024.

“Our brands continued to deliver innovative retail strategies in the first quarter, including Princess Polly’s well-received introduction of an activewear collection, a strong launch of Petal & Pup on Nordstrom’s website, further expanding our omni-channel marketplace presence, and another quarter of strong double-digit net sales growth in our Culture Kings U.S. business,” said Ciaran Long, Interim Chief Executive Officer and Chief Financial Officer.