Fashion brands accelerator a.k.a brands expects to generate approximately $120m in net sales in the first quarter (Q1) of fiscal year (FY) 2023.
The figure surpassed the company’s previously provided outlook, which predicted sales between $113m and $116m for the quarter.
For the quarter ending 31 March 2023, a.k.a. Brands expects its net loss to stand within management’s expectations of approximately $9.7m to $9.6m.
The company also projects adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) of approximately $2.0m to $2.2m in Q1 FY23.
This is above the higher end of its previous outlook of between $1.5m and $1.8m.
a.k.a. Brands interim chief executive officer and chief financial officer Ciaran Long said: “I’m proud of our solid performance in the first quarter of 2023, which exceeded our expectations on both the top line and on an adjusted EBITDA basis.
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I’m pleased with the strength of our brands and our disciplined execution during the quarter. We remain laser-focused on balancing growth and profitability, and we are confident that our growth strategies, flexible operating model and talented teams will drive profitable growth.”
a.k.a. Brands, which focus on a distinct Gen Z and Millennial audience, owns a number of brands, including Princess Polly, Culture Kings, mnml and Petal & Pup.
In November 2022, Australian streetwear lifestyle brand Culture Kings, under a.k.a. Brands, unveiled its first flagship store at The Forum Shops at Caesars, a Simon Property in Las Vegas, Nevada.