Consistent Growth in Net Sales
Net sales increased approximately 12% on a constant currency basis to $129 million, with the U.S. growing 14% and Australia/New Zealand growing more than 6%.
Expansion of Physical and Omni-Channel Presence
Princess Polly opened its seventh store in SoHo, marking its strongest opening, and expanded to all Nordstrom stores, with encouraging early results.
Improved Profitability
The company exceeded profitability expectations with $2.7 million of adjusted EBITDA, reflecting strong top-line growth and operating discipline.
Strong Brand Performance
Princess Polly and Petal & Pup showed strong growth, with Princess Polly seeing double-digit revenue growth in dresses and significant expansion in lifestyle categories.
Successful Strategic Initiatives
The company has made significant progress in diversifying its supply chain, with minimal expected exposure to China by Q4 as production shifts to Vietnam and Turkey.