a.k.a Brands reports Q4 adjusted EPS (31c), consensus (47c)

Reports Q4 revenue $148.9M, consensus $154.14M. “2023 was a transformational year for a.k.a. Brands, and I want to thank our teams for their continued dedication to building next-generation fashion brands for the next generation of consumers,” said Ciaran Long, Interim Chief Executive Officer and Chief Financial Officer. “I’m pleased that we delivered net sales growth in the U.S. in the fourth quarter of 2023, which marks the second consecutive quarter of growth in our largest market. I’m proud of the teams’ strong execution across regions, which enabled us to reduce our year-end inventory by 28% compared to last year. Additionally, we continued to manage the business prudently and strengthened our balance sheet – we paid off more than $50 million of debt this year, effectively reducing our debt by 35% in fiscal 2023.”