A.k.a. Brands Holding Sees Q4 Net Sales Above Market, Lifts Adj. EBITDA View; Names New CEO

(RTTNews) - a.k.a. Brands Holding Corp. (AKA), a portfolio of next generation fashion brands, Monday announced that its preliminary fourth-quarter net sales increased 6.8% to around $159.0 million from last year's $148.9 million.

Analysts on average expect the company to report sales of $153.99 million, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

In the U.S., net sales increased 21.6% to approximately $96.1 million from $79.1 million a year ago.

Further, the company now expects adjusted EBITDA for the quarter to be between $6.0 million and $6.2 million in the fourth quarter, compared to $1.3 million a year ago.

For fiscal 2024, adjusted EBITDA is expected to be between $23.0 million to $23.2 million, compared to $13.8 million for fiscal year 2023.

A.k.a. Brands said it has raised adjusted EBITDA expectations citing the power of its business model.

Separately, the company announced that Ciaran Long has been appointed to Chief Executive Officer, effective immediately.