We are reiterating our Buy rating, projections and $30 price target for a.k.a. Brands Holding after visiting Princess Polly stores in Ohio and Los Angeles. We believe, with the supply chain normalized and tariff issues receding, Princess Polly has returned to offering compelling fashion driven items for its core “It” girl, with materially better product flows and the ability to leverage the “read and react” business model to capitalize on key fashion winners and full price selling. Further, we believe management is also focused on driving higher productivity via technology and to expand the current Princess Polly offerings to drive more units per transaction and further leverage the model. We continue to view 2026 as a key pivot year for the company, with a.k.a. demonstrating the myriad positives of the Princess Polly stores, and we reiterate our Buy rating and $30 price target for AKA.
