PR Newswire
SPOKANE, Wash., Sept. 14, 2021
SPOKANE, Wash., Sept. 14, 2021 /PRNewswire/ -- Kaspien Holdings Inc. (NASDAQ: KSPN) ("Kaspien" or the "Company"), a leading e-commerce marketplace growth platform, today reported financial results for the fiscal second quarter ended July 31, 2021.
Management Commentary
"In the fiscal second quarter we responded capably to a challenging macroeconomic environment experiencing global supply chain challenges and inflationary price increases, which is a testament to the resiliency of our operating model as well as the flexible, diversified supply chain structure we proactively built and have leveraged during this time," said Kaspien CEO Kunal Chopra. "In recent months we've successfully mobilized our teams to establish a more robust direct-to-consumer fulfillment model by utilizing our regional warehousing locations to minimize gaps in lead times across the supply chain; this response also provided a better experience for our brand partners who had been previously reliant on Amazon FBA. Despite these constraints, we were able to drive a 50-basis point increase in overall GMV, 33% increase in subscription GMV, and a 16% increase in subscription monthly recurring revenue during the period.
"Our non-Amazon marketplaces are also continuing to perform well, registering 72% growth as a group, largely driven by success on our new and growing Target+ Program. We also made significant platform upgrades as part of our ongoing commitment to being a one-stop-shop for all things brand management. This quarter, we implemented reporting capabilities in our Platform Dashboard, improved Product Targeting Management, added Sponsored Brand Video Management to our AdManager software, and developed a new Partner Central Rapid Prototype, all improvements that position us well for continued partner success in the future. Looking ahead, while we expect these industry-wide challenges to persist, we will be investing in the coming months to meet the expected growth in demand during the upcoming holiday season. Our focus over the long term will be to continue growing overall GMV as the leading indicator of the success of our business while also shifting our mix to more profitable subscriptions and expanding into other marketplaces."
Fiscal Second Quarter 2021 Financial Results
Results compare 2021 fiscal second quarter ended July 31, 2021 to 2020 fiscal second quarter ended August 1, 2020 unless otherwise indicated.
| | Thirteen Weeks Ended | | Twenty-six Weeks Ended | ||||||||
| July 31, | | | August 1, | | | July 31, | | | August 1, | ||
(amounts in thousands) | | | 2021 | | 2020 | | | 2021 | | 2020 | ||
| | | | | ||||||||
Merchandise margin | | $ | 15,936 | | $ | 19,447 | | $ | 34,656 | | $ | 33,901 |
% of net revenue | | | 45.7% | | | 46.0% | | | 45.9% | | | 45.9% |
| | | | | | | | | | | | |
Fulfillment fees | | | (5,394) | | | (6,867) | | | (11,843) | | | (11,865) |
Warehousing and freight | | | (1,708) | | | (1,894) | | | (4,182) | | | (3,434) |
Gross profit | | $ | 8,835 | | $ | 10,685 | | $ | 18,631 | | $ | 18,602 |
| | | | | | | | | | | | |
% of net revenue | | | 25.3% | | | 25.3% | | | 24.7% | | | 25.2% |
Fiscal First Half 2021 Financial Results
Results compare six months ended July 31, 2021 to six months ended August 1, 2020 unless otherwise indicated.
| | Twenty-Six Weeks Ended | ||||
| July 31, | | | August 1, | ||
(amounts in thousands) | | | 2021 | | 2020 | |
| | | ||||
Merchandise margin | | $ | 34,656 | | $ | 33,901 |
% of net revenue | | | 45.9% | | | 45.9% |
| | | | | | |
Fulfillment fees | | | (11,843) | | | (11,865) |
Warehousing and freight | | | (4,182) | | | (3,434) |
Gross profit | | $ | 18,631 | | $ | 18,602 |
| | | | | | |
% of net revenue | | | 24.7% | | | 25.2% |
Key Performance Indicators (KPIs)
Unless otherwise specified, KPI data has been recorded as of fiscal quarter end (July 31, 2021).
Conference Call
Kaspien will hold a conference call today, Tuesday, September 14, 2021 at 4:30 p.m. Eastern time (1:30 p.m. Pacific time) to discuss these results.
Company management will host the call, followed by a question-and-answer period.
U.S. dial-in number: 844-602-0380
International number: 862-298-0970
Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact Gateway Investor Relations at 949-574-3860.
The conference call will be broadcast live and available for replay here and via the investor relations section of the company's website.
A replay of the conference call will be available after 7:30 p.m. Eastern time through September 28, 2021.
Toll-free replay number: 877-481-4010
International replay number: 919-882-2331
Replay ID: 42618
Kaspien plans to file its annual Form 10-Q by September 14, 2021 in accordance with the SEC filing deadlines.
About Kaspien
Kaspien Holdings Inc. (f/k/a Trans World Entertainment Corporation) (NASDAQ: KSPN) is a leading e-commerce marketplace growth platform, offering an expanding suite of software and services to help brands grow on Amazon, Walmart, Target, eBay, and other online marketplaces. Founded in 1972 as a brick-and-mortar retailer and rebranded as Kaspien in 2020, the Company has spent the last decade building and utilizing proprietary technologies for brand protection, marketing optimization, and fulfillment efficiency to generate rapid revenue growth for its partners. Through innovative strategies and best-in-class technologies, Kaspien has earned the trust of many leading brands, including 3M, Strider Bikes, and ZippyPaws. For more information, visit kaspien.com.
Non-GAAP Financial Measures
Adjusted EBITDA is defined as net loss, adjusted to exclude: (i) income tax expense; (ii) Other (income) loss; (iii) interest expense; and (iv) depreciation expense. Our method of calculating adjusted EBITDA may differ from other issuers and accordingly, this measure may not be comparable to measures used by other issuers. We use adjusted EBITDA to evaluate our own operating performance and as an integral part of our planning process. We present adjusted EBITDA as a supplemental measure because we believe such a measure is useful to investors as a reasonable indicator of operating performance. We believe this measure is a financial metric used by many investors to compare companies. This measure is not a recognized measure of financial performance under GAAP in the United States and should not be considered as a substitute for operating earnings (losses), net earnings (loss) from continuing operations or cash flows from operating activities, as determined in accordance with GAAP.
| Thirteen Weeks Ended Werbung Mehr Nachrichten zur Kaspien Holdings Aktie kostenlos abonnieren
E-Mail-Adresse
Bitte überprüfe deine die E-Mail-Adresse.
Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News |