Company did not provide specific guidance for upcoming quarters or the full year
Overview
US pleasure and leisure firm's Q2 revenue rose 11%, beating analyst expectations
Q2 adjusted EBITDA doubled and beat analyst estimates
Company to repurchase 16.6 mln shares, nearly 14% of shares outstanding
Result drivers
Honey Birdette growth - Co said revenue growth was primarily due to continued strong performance of Honey Birdette, which delivered 18.2% sales growth and higher gross margins
Operating expenses - Operating expenses decreased 17%, largely due to the absence of prior-year non-recurring settlement and impairment charges, and lower personnel and legal expenses
Licensing revenue - Licensing revenue grew 2.2% as co continued repositioning its licensing business around fewer, larger partners
Analyst coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the apparel & accessories retailers peer group is "buy"
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