Welcome to our dedicated page for Kidpik news (Ticker: PIK), a resource for investors and traders seeking the latest updates and insights on Kidpik stock.
The news page for Kidpik Corp. (historically associated with the symbol PIK) provides a record of company announcements and developments related to its business as an online clothing subscription-based e-commerce company for kids. In its press releases, Kidpik describes itself as offering an online clothing subscription box for children, with mix-and-match, expertly styled outfits curated based on each member’s style preferences, and additional branded clothing and footwear sold through its own e-commerce website.
Kidpik’s news flow has covered several key themes. The company has regularly reported quarterly and annual financial results, including revenue trends, gross margin, shipped items, and shipment keep rates. These releases often include commentary on inventory management, such as decisions to cease purchasing new inventory and to focus on clearing existing inventory, as well as references to non-GAAP metrics like adjusted EBITDA.
Another major category of news involves capital markets and listing status. Kidpik has announced a 1-for-5 reverse stock split implemented in March 2024 as part of a plan to regain compliance with Nasdaq’s minimum bid price requirement, followed by a notice that it had regained full compliance with that requirement. Later, the company disclosed that a Nasdaq Hearings Panel determined to delist its securities from the Nasdaq Capital Market due to non-compliance with the minimum shareholders’ equity rule, that trading on Nasdaq was suspended on December 26, 2024, and that its common stock began trading on the OTC Markets system under the symbol PIKM.
Kidpik’s news releases also describe its Agreement and Plan of Merger and Reorganization with Nina Footwear Corp. and Kidpik Merger Sub, Inc., outlining the planned merger structure and the expectation that Nina Footwear would trade on Nasdaq under the symbol NINA upon closing. More recently, the company announced that its Board approved commencing the process to voluntarily delist its securities from Nasdaq and to deregister under the Securities Exchange Act of 1934 by filing Forms 25 and 15, while reserving the right to delay or withdraw those filings.
Investors and researchers reviewing Kidpik-related news can use this page to follow the company’s historical financial disclosures, strategic transactions such as the proposed merger with Nina Footwear, and changes in its trading and registration status as described in its own announcements.
KIDPIK Corp (OTC PINK:PIKM), an online clothing subscription box for kids, announced its Board of Directors' decision to voluntarily delist from Nasdaq and deregister its securities under the Exchange Act. This follows Nasdaq's December 20, 2024 notification of delisting due to violation of the minimum shareholders equity rule, which led to trading suspension on December 26, 2024.
The company's stock began trading on OTC Markets under symbol 'PIKM' on December 26, 2024. KIDPIK plans to file Form 25 with the SEC for voluntary delisting, which will become effective ten days after filing. Subsequently, the company intends to file Form 15 to deregister securities, which will immediately suspend obligations to file periodic reports (10-K, 10-Q, 8-K) with complete termination of reporting duties 90 days after Form 15 filing.
Kidpik Corp (PIK) announced the suspension of its common stock trading on Nasdaq Capital Market effective December 26, 2024, due to non-compliance with the minimum shareholders' equity rule. The suspension follows an October 2, 2024 delist determination and a denied appeal to the Nasdaq Stock Market Hearings Panel. The company intends to appeal to the Nasdaq Listing and Hearing Review Council, though this won't prevent the delisting. Kidpik expects its shares to transition to trading on the OTC Pink Market under the symbol 'PIK'. The company acknowledges that delisting may result in market trading and potential difficulties for stockholders to sell shares.
KIDPIK reported Q3 2024 financial results showing significant declines. Revenue dropped 69.2% year-over-year to $1.0 million, while gross margin improved to 68.6% from 61.1%. Shipped items decreased to 107,000 from 292,000, and the average shipment keep rate fell to 67.7% from 82.6%. Net loss improved to $0.9 million ($0.45 per share) compared to $1.9 million ($1.20 per share) in Q3 2023. The company has ceased marketing expenditures and new inventory purchases as it focuses on completing its merger with Nina Footwear, expected to close in Q1 2025.
KIDPIK Corp. (PIK), an online clothing subscription e-commerce company, reported its Q2 2024 financial results. Key highlights include:
- Revenue decreased 67.3% year-over-year to $1.1 million
- Gross margin improved to 66.2% from 60.2% in Q2 2023
- Shipped items declined to 135,000 from 290,000 in Q2 2023
- Average shipment keep rate slightly decreased to 74.6%
- Net loss narrowed to $1.3 million ($0.67 per share) from $2.0 million ($1.31 per share) in Q2 2023
The company is proceeding with its merger with Nina Footwear Corp., expected to close in Q4 2024. KIDPIK has ceased marketing for subscription services and new inventory purchases in preparation for the merger.
Kidpik Corp. reported its Q1 2024 financial results, highlighting a revenue decline of 44.4% YoY to $2.2 million and a gross margin improvement to 69.9% from 59.8% in Q1 2023. The company shipped 195,000 items, down from 340,000 in the previous year, but saw an increased average shipment keep rate of 78.2%, up from 68.1%. Net loss for the quarter stood at $1.8 million or $0.94 per share, with an adjusted EBITDA loss of $1.4 million.
In strategic developments, Kidpik has entered into a merger agreement with Nina Footwear, anticipating increased revenue, cash flow, and stockholder value post-merger. The merger is expected to close in Q3 2024, subject to customary closing conditions and necessary stockholder approvals. The company is not conducting an earnings call for Q1 2024 as it focuses on the merger process.
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