By Dean Seal
Shares of a.k.a. Brands Holding rose after the company projected stronger fourth-quarter revenue than expected and said its interim chief executive would stay in the role permanently.
The stock was up 10% at $18.49 in early trading. Shares were trading at $8.48 around this time a year ago.
The operator of online fashion brands, including Princess Polly and Culture Kings, said it expects to report that revenue rose 6.8% to $159 million in the fourth quarter, topping current analyst estimates for $154 million, according to FactSet.
The gains were driven by a 22% jump in U.S. revenue, a.k.a said.
The company has also tapped Chief Financial Officer Ciaran Long to be its next chief executive. He had been serving in the role on an interim basis since March 2023.
Kevin Grant, a senior member of the company's finance team, has been appointed CFO.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
January 13, 2025 10:39 ET (15:39 GMT)
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