Equity Research Focusing on the Consumer Sector, Small Cap Consumer Research

Small Cap Consumer Research

Equity research on small cap consumer names.

Equity Research Focusing on the Consumer Sector

Small Cap Consumer Research, LLC is a leading company-sponsored equity research provider focusing on the consumer sector (apparel, brand licensing and specialty retailing segments).

Equity Bottom-Up

aka Brands Holding Corp / Equity Bottom-Up

<ul><li>We are reiterating our Buy rating and $30 price target for a.k.a. Brands and raising our EBITDA projections for 2025 after the company reported upside in 1Q, driven by continued strong results from their stable of brands (Culture Kings, mnml, Princess Polly and Petal & Pup), as 1Q25 revenue rose 10.1%, driven by Princess Polly store openings, wholesale expansion at Nordstrom, and a return to growth in Australia/New Zealand.</li><li>Further, with a quick pivot from China exports already underway (and on track to be completed by 4Q25), we are raising our "doomsday" 2025 EBITDA projections.</li><li>We believe, with more store openings on track, further wholesale expansion already in the works and Australia shifting back to a growth position, a.k.a. is positioned for further upside, and we reiterate our Buy rating and $30 price target for AKA.</li></ul>

We are reiterating our Buy rating and $30 price target for a.k.a. Brands and raising our EBITDA projections for 2025 after the company reported upside in 1Q, driven by continued strong results from their stable of brands (Culture Kings, mnml, Princess Polly and Petal & Pup), as 1Q25 revenue rose 10.1%, driven by Princess Polly store openings, wholesale expansion at Nordstrom, and a return to growth in Australia/New Zealand.Further, with a quick pivot from China exports already underway (and on track to be completed by 4Q25), we are raising our "doomsday" 2025 EBITDA projections.We believe, with more store openings on track, further wholesale expansion already in the works and Australia shifting back to a growth position, a.k.a. is positioned for further upside, and we reiterate our Buy rating and $30 price target for AKA.

AKA: 1Q Review: Showing the Growing Power of the Brands; Reiterate Buy, $30 PT