We are reiterating our Buy rating, $30 price target and projections for a.k.a. Brands after visiting Princess Polly stores in Boston, Long Island and Miami. We believe, as we enter the heart of the Holiday party season, Princess Polly is fully prepared and looking very clean, with great offerings, a deepening focus on accessories, and winning key fashion driven items, from dresses, jackets and lounge wear (for the after party). Further, there has been material progress in terms of normalizing product flows post the tariff-driven shocks we noticed in our Fall tours. As such, and with full price selling an even deeper focus, we believe Princess Polly remains a clear Holiday winner, and we reiterate our Buy rating and $30 price target for AKA
