|Over a quarter ago|
Kaspien Holdings reports Q4 EPS (7c), one est. (62c) » 08:4804/1504/15/21
Reports Q4 revenue…
Reports Q4 revenue $45.5M, one est. $37.13M. Fourth quarter 2020 gross merchandise value increased 86% to $73.9M, compared to $39.7M in the comparable year-ago period. Total active partner count at year end was approximately 825, including nearly 693 retail partners and 132 subscription partners. The Company's subscriptions partner base as of January 30, 2021 increased 207% compared to fiscal 2019. Fourth Quarter GMV per active partner increased 87% to $90,000 from $48,000 in fiscal 2020 as compared fiscal 2019. The Company expects this metric to steadily grow over time as partners derive more value from the Kaspien platform, leading to greater partner sales and increased engagement across more product lines. "The past year has been a transformative period for our business and the ecommerce industry as a whole," said Kaspien CEO Kunal Chopra. "As the pandemic kept many of us at home, spending moved increasingly online, accelerating years' worth of adoption into several months and setting the course for expanded overall industry growth. For Kaspien, the foundation we laid over the past year has us effectively positioned to continue benefitting from serving this trillion-dollar market. For both the quarter and year, we improved in every meaningful financial metric and KPI and have been able to do so more efficiently, as evidenced by our consistently decreasing SG&A as a percentage of net revenue. In addition to producing healthy double-digit topline increases in our retail business for these respective periods, we drove major growth in our subscriptions segment, which now contributes over 50% of total GMV, further supporting our diversified approach to scale. Through combined retail and subscription execution, we expect to reliably add to our partner count over time while also taking advantage of increased online transactions wherever and however they're happening. We are committed to helping businesses of all sizes grow online, which means offering the software, technology and know-how to guide our partners through the increasingly complex landscape of digital marketplaces. To date, our approach has led us to expand from one of the original third-party retailers to a comprehensive platform of software and tech-enables services. Going forward, we plan to support more marketplaces, expand to new geographies and layer new business models on top of our existing platform. We also intend to acquire brands both within and outside our portfolio and have the data and technology to drive outsized results for those businesses. Altogether, as we enter the new year, Kaspien is in a strong position, both operationally and financially, and we have the team, resources and strategy to take full advantage of the long-term ecommerce evolution."
Kaspien Holdings initiated with a Buy at Aegis » 10:2403/2403/24/21
Aegis analyst Rommel…
Aegis analyst Rommel Dionisio initiated coverage of Kaspien Holdings with a Buy rating and $60 price target.
Kaspien Holdings partners with Gateway for expanded IR program » 08:1303/2303/23/21
Kaspien has appointed…
Kaspien has appointed Gateway Investor Relations to manage its expanded investor relations program initiatives, including providing corporate messaging and other consulting services to the Company. Gateway will work closely with Kaspien management over the coming months to develop and deploy a comprehensive outreach and communications program. Activities will include but are not limited to: refining overall company and investment-oriented messaging and corporate positioning, strategic advisory services, and introductions to institutional investors, sell-side analysts and other key influencers in the broader financial community. Gateway will also assist in organizing road shows and securing invitations to select financial conferences and events, including its annual Gateway Conference.
Kaspien Holdings 416K share Secondary priced at $32.50 » 09:0003/1603/16/21
Aegis acted as sole book…
Aegis acted as sole book running manager for the offering.
Kaspien Holdings announces $13.5M bought deal offering » 07:5803/1603/16/21
Kaspien Holdings announced that it has entered into an underwriting agreement with Aegis Capital Corp. under which the underwriter has agreed to purchase, on a firm commitment basis, 416,600 shares of common stock of the Company, at a price to the public of $32.50 per share. The closing of the offering is expected to occur on or about March 18, 2021, subject to customary closing conditions. The Company intends to use the net proceeds from this offering for general corporate purposes, including working capital to implement its strategic plans focused on brand acquisition, investments in technology to enhance its scalable platform and its core retail business.
Kaspien Holdings announces common stock offering, no amount given » 16:5303/1503/15/21
Kaspien Holdings announced that it intends to offer shares of its common stock for sale in an underwritten public offering. The company intends to use the net proceeds from this offering for general corporate purposes, including working capital to implement its strategic plans focused on brand acquisition, investments in technology to enhance its scalable platform and its core retail business. Aegis Capital Corp. is acting as the sole book-running manager for the offering.
Kaspien Holdings approved to sell on Target.com » 08:1103/0303/03/21
Kaspien (KSPN) announced…
Kaspien (KSPN) announced that it is one of the only third-party sellers currently approved to sell on Target.com (TGT). Kaspien is selling on Target.com as a Target Plus partner, which is a third-party company that sells and ships items directly to customers through Target.com and the Target apps. Kaspien's Target Plus partnership creates an opportunity for sellers to grow their businesses through a historically inaccessible platform.
Kaspien Holdings files $50M mixed securities shelf 17:2202/0902/09/21