Naked Brand Group Ltd. (NAKD), a designer and retailer of ladies and gents intimate apparels and swimming products, is experiencing a surge in its share price in current market trading hours. The shares are changing hands at $0.56, an increase of 12.96%.
Appointment of CFO
On the 19th of April, Naked Brand Group (NAKD) appointed Mark Ziirsen as Chief Financial Officer. He has replaced Cheryl Durose. Mark is a finance executive and has 30 years of financial and operational experience. Mark had experience with public company finance as a corporate officer. He also served as an audit committee member. His executive career has spanned senior financial leadership roles in different ASX-listed companies. Justin Davis-Rice, Naked’s Chief Executive Officer, welcomed Mark’s appointment and said that Naked Brand Group is privileged to have someone of Mark’s caliber and financial skill set to serve as its Chief Financial Officer.
Replacement of CEO
In early April, Anna Johnson was appointed as Naked Brand’s Group (NAKD) ‘s new CEO. She replaced Justin Davis-Rice, who was named executive chairman of the company. Anna has experience of over 25 years across a number of industries. Before joining Naked, she was EGM operations of The Warehouse Group. Former CEO Davis-Rice said that Naked Brand Group believes Anna’s role as CEO of Naked would amplify the new strategic direction of the company.
Solidification of balance sheets
On the 30th of March, Naked group (NAKD) reported that it had successfully solidified its balance sheets. That happened due to a number of strategic capital financings. Because of that solidification, the company gained the cash proceeds of $270 million, and apart from that, the company’s all previous debt servicing obligations were eliminated. The company also said on the occasion that it had regained compliance with NASDAQ listing requirements. Apart from that, the company announced the appointment of Simon Tripp to its board of directors. Besides being an investment banker, Simon also is M&A executive and has 30 years of professional experience. Simon Tripp said on the occasion that he is excited to work in Naked Brand to identify future potentials.
NAKD Annual financial results
On the 18th of May, Naked Group (NAKD) released the annual financial result of the fiscal year 2021. According to the results, the company generated revenue of $80.03 million, as compared to the revenue of $90.06 million generated during fiscal 2020. The gross profit stood at $33.89 million, as compared to the gross profit of $33.81 million during the equivalent period of the previous year. The comprehensive loss for the fiscal year stood at $72.82 million, as compared to $52.17 million during the equivalent period of the previous year. All of these indicators suggest that the COVID pandemic had a severe impact upon the business of the company during the fiscal year 2021.
What lies ahead for NAKD stock
The statistics suggest that Naked Brand Group (NAKD) could see bright times in the near future. The EPS for next year could increase by some 98.20%. With the ease in government restrictions, it is imminent that future times hold something great in store for NAKD stock. So, potential investors should keep a close watch on NAKD stock.
