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Why Specialty Retail Company A.K.A. Brands Shares Are Diving Today

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A.K.A. Brands Holding (NYSE:AKA) shares are trading lower today. Truist Securities analyst Youssef Squali downgraded the stock to Hold from Buy at a lowered price target to $10 from $12.

The analyst re-rated the stock following the company’s softer-than-expected fourth-quarter FY23 results and below consensus FY24 guidance, reflecting a tough macro environment in Australia and operational challenges.

Yesterday, the company reported adjusted EPS loss of $(0.310), which beat the consensus of $(0.470), but sales …

Full story available on Benzinga.com

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