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Kaspien Holdings Inc. (KSPN)

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Previous Close10.06
Open10.31
Bid9.75 x 1100
Ask10.25 x 1000
Day's Range10.25 - 10.50
52 Week Range2.17 - 15.00
Volume3,135
Avg. Volume4,997
Market Cap19.092M
Beta (5Y Monthly)0.73
PE Ratio (TTM)N/A
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateMar 18, 2014
1y Target EstN/A
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  • GlobeNewswire

    Kaspien Named One of the Best Places to Work in Inland Northwest

    SPOKANE, Wash., Oct. 08, 2020 (GLOBE NEWSWIRE) -- Kaspien, Inc., formerly etailz, was recently named as one of the Best Places to Work Inland Northwest. The fourth annual list of the Best Places to Work Inland Northwest was created by the Journal of Business and Best Companies Group. This survey and awards program was designed to identify, recognize, and honor the best employers in the Inland Northwest, benefiting the region’s economy, workforce, and businesses. The list is made up of 36 companies. Kaspien also made the list of Best Places to Work Inland Northwest in 2016 and 2018 (as etailz)."We are honored to be a recipient of the Inland Northwest Best Places to Work Award, and it is a great milestone for the culture of our company,” said Lisa Wideman, Kaspien’s VP of Human Resources.“At Kaspien, we believe our employees are our most valuable asset, therefore when we implement new programs, we think about our employees first. We encourage work-life integration through flexible work schedules, especially with what we are all experiencing in 2020, as well as flexible PTO for qualified employees. This allows our employees to take the time off they need.”To be considered for participation, companies had to fulfill the following eligibility requirements: * Be a for-profit, not-for-profit business or government entity * Be a publicly or privately held business * Have a facility in the Inland Northwest region (Spokane, Pend Oreille, and Stevens counties in Washington State; and Kootenai and Bonner counties in Idaho.) * Have a minimum of 15 full-time or part-time employees working in the Inland Northwest * Be in business a minimum of 1 year Companies from across the region entered the two-part survey process to determine the Best Places to Work Inland Northwest. The first part consisted of evaluating each nominated company's workplace policies, practices, philosophy, systems, and demographics. The second part consisted of an employee survey to measure the employee experience. The combined scores determined the top companies and the final ranking. Best Companies Group managed the overall registration and survey process, analyzed the data, and determined the final rankings.In the past year, Kaspien has instituted many new employee engagement programs, such as a Charitable Contribution and Giving Committee. This committee is focused on giving back to our Spokane community, and is currently organizing a diaper drive for the local Vanessa Behan Crisis Nursery after the committee became aware that the nursery was unable to host the annual diaper drive themselves due to COVID-19.Kaspien also keeps employees engaged through monthly lunch and learns, which are now done virtually. “We have monthly lunch and learns where we showcase in-house experts that share the latest happenings on Amazon or bring an external speaker in to talk on important topics,” said Holly Johnson, Human Resources Generalist at Kaspien. “Moving to work from home, we knew we couldn’t lose these events, which our employees love so much. More than that, we knew this was a great opportunity to stay connected.”Kaspien also continues to engage employees through fun events like the recently hosted virtual scavenger hunt. “The scavenger hunt included things both indoors and outdoors, like taking a photo in a sunflower field or sharing a photo of an art project/creation you made during quarantine,” said Johnson. “This gave our employees to take a chance to not only reconnect with one another but get outside (safely) and get the creativity flowing!”For more information on the Best Places to Work Inland Northwest program, visit www.BestPlacesToWorkINW.com.About Kaspien  Kaspien is a leading ecommerce growth platform, offering an expanding suite of software and services to help brands grow on Amazon, Walmart, Google Shopping, eBay, and other online marketplaces. Founded in 2008 in Spokane, Wash., Kaspien has spent the last decade building and utilizing proprietary technologies for brand protection, marketing optimization, and fulfillment efficiency to generate rapid revenue growth for Kaspien partners. Through innovative strategies and best-in-class technologies, the Spokane-based company has earned the trust of many leading brands, including 3M, Strider Bikes, Buck Knives, and ZippyPaws. Kaspien recently secured $25 million in funding from Encina Business Credit. For more information, visit kaspien.com.  Katie Capka, Inbound Marketing Manager | Kaspien Phone: 509.919.0213 Email: katiec@kaspien.com Website: kaspien.com

  • GlobeNewswire

    Kaspien Holdings Announces Second Quarter Results

    Total Revenue increases 23.5% and Gross Merchandise Value increases 46%SPOKANE VALLEY, Wash., Sept. 15, 2020 (GLOBE NEWSWIRE) -- Kaspien Holdings Inc. (Nasdaq: KSPN) today reported financial results for its second quarter ended August 1, 2020. “The second quarter was a strong quarter for Kaspien. As consumers buy more of their goods online, brands are looking to expand their online operations. Kaspien has spent years building the expertise, strategies, software and services needed to create a prosperous online business, evolving from a third-party retailer to a software and tech-enabled services company. The strength of our second quarter results is a testament to the quality and performance of our offerings,” said Kunal Chopra, Kaspien Holdings Inc.’s Principal Executive Officer.“We ended the quarter with $62.7 million in platform Gross Merchandise Value (GMV), with nearly one-third of GMV from Kaspien’s subscription business. As we shift to be more multi-marketplace centric, a key milestone was becoming a first adopter of Walmart’s new Walmart Fulfillment Services (WFS). Additionally, our focus on tech enabled services has provided new offerings for brands seeking online growth, such as self-service and managed service solutions for Amazon ad management, US Tax compliance for online sellers, and an unauthorized seller removal service,” added Mr. Chopra.Second Quarter Overview * Total revenue increased 23.5% to $42.3 million compared to $34.3 million in the second quarter of fiscal 2019.  Increased retail sales were supported by strong growth in the Company’s subscriptions and dropship businesses. * Gross profit for the quarter increased 43.3% to $4.4 million, or 10.5% of total revenue as compared to $3.1 million, or 9.0% of total revenue for the second quarter of 2019. The increase in Gross profit as a percentage of total revenue was due to improved gross margins on the Amazon US Platform, improved operational efficiencies and the addition of new higher gross margin services. * SG&A expenses for the quarter were $4.9 million, a decline of $1.8 million or 26.3% as compared to the second quarter of 2019. The decline in SG&A was due to a decline of $2.0 million in corporate expenses. The decline in corporate expenses was related to the sale of the Company’s fye business in February 2020. * Loss from continuing operations was $0.9 million compared to a loss from continuing operations of $3.8 million for the second quarter of fiscal 2019. * Net loss was $0.9 million, or $0.49 per share, compared to a net loss of $8.1 million, or $4.48 per share, for the same period last year. * Adjusted EBITDA (a non-GAAP measure) was $833,000 compared to a loss of $310,000 for the second quarter of fiscal 2019 (see note 1).Twenty-six weeks ended August 1, 2020 Overview * Total revenue for the twenty-six weeks ended August 1, 2020 increased 6.5% to $73.9 million, compared to $69.4 million for the same period last year driven by increased sales on the Amazon US Platform and growth in the subscriptions business. * Gross profit for the twenty-six weeks ended August 1, 2020 increased 31.9% to $7.7 million, or 10.5% of total revenue as compared to $5.9 million, or 8.5% of total revenue for the comparable period of 2019. The increase in Gross profit as a percentage of total revenue was due to improved gross margins on the Amazon US Platform, improved operational efficiencies and the addition of new higher gross margin services. * SG&A expenses for the twenty-six weeks ended August 1, 2020 were $13.4 million, a decline of $0.2 million as compared to the comparable period of 2019.  * Loss from continuing operations was $5.7 million compared to $7.8 million for the twenty-six weeks ended August 3, 2019. * Net loss was $6.3 million, or $3.46 per share, for the twenty-six weeks ended August 1, 2020, compared to a net loss of $15.9 million, or $8.78 per share, for the same period last year. * Adjusted EBITDA (a non-GAAP measure) was a $544,000 compared to a loss of $1.4 million for the same period last year (see note 1). * Cash, cash equivalents and restricted cash as of August 1, 2020 was $8.6 million, compared to $9.9 million as of August 3, 2019.  * Borrowings under the credit facility at the end of the second quarter were $2.2 million compared to $12.1 million at the end of the second quarter last year.  As of August 1, 2020, $6.5 million was available for borrowing. * Inventory was $20.6 million at the end of the second quarter of 2020 as compared to $20.2 million at the end of the second quarter of 2019.            Kaspien Holdings Inc. Condensed Consolidated Financial Results STATEMENTS OF OPERATIONS: (in thousands, except per share data)  Thirteen Weeks Ended  Twenty-six Weeks Ended  August 1,  % to  August 3,  % to  August 1,  % to  August 3,  % to  2020 Revenue  2019  Revenue  2020 Revenue  2019 Revenue             Net revenue$42,296   $34,260    $73,885   $69,392               Cost of sales 37,873  89.5%  31,173  91.0%  66,151  89.5%  63,528  91.5% Gross profit 4,423  10.5%  3,087  9.0%  7,734  10.5%  5,864  8.5%             Selling, general and           administrative expenses 4,916  11.6%  6,666  19.5%  13,406  18.1%  13,644  19.7% Loss from continuing operations (493) -1.2%  (3,579) -10.4%  (5,672) -7.7%  (7,780) -11.2%             Interest expense 406  1.0%  172  0.5%  634  0.9%  308  0.4%             Loss from continuing operations before income tax benefit (899) -2.1%  (3,751) -10.9%  (6,306) -8.5%  (8,088) -11.7%             Income tax expense -  0.0%  7  0.0%  -  0.0%  16  0.0%             Loss from continuing operations (899) -2.1%  (3,758) -11.0%  (6,306) -8.5%  (8,104) -11.7%             Loss from fye business, net of tax -  0.0%  (4,370) -12.8%  -  0.0%  (7,826) -11.3%             Net loss$(899) -2.1% $(8,128) -23.7% $(6,306) -8.5% $(15,930) -23.0%             Basic and diluted loss per common share:                       Basic and diluted loss per share$(0.49)  $(4.48)   $(3.46)  $(8.78)                 Weighted average number of           common shares outstanding - basic and diluted 1,825    1,816     1,823    1,815                  Diluted Income per common share:           SELECTED BALANCE SHEET CAPTIONS:      August 1, August 3,  (in thousands, except store data)      2020 2019              Cash, cash equivalents, and restricted cash      $8,649   $9,930   Merchandise inventory       20,576    20,185   Fixed assets (net)       2,285    1,898   Accounts payable       9,857    9,285   Borrowings under line of credit       2,151    12,086   Long-term debt       4,401    -                 Notes: 1.  Reconciliation of net loss to adjusted EBITDA:Adjusted EBITDA is defined as net loss, adjusted to exclude: (i) income tax expense; (ii) loss from fye business, net of tax, (iii) interest expense; (iv) Corporate SG&A expenses and (v) depreciation expense. Our method of calculating adjusted EBITDA may differ from other issuers and accordingly, this measure may not be comparable to measures used by other issuers. We use adjusted EBITDA to evaluate our own operating performance and as an integral part of our planning process. We present adjusted EBITDA as a supplemental measure because we believe such measure is useful to investors as a reasonable indicator of operating performance. We believe this measure is a financial metric used by many investors to compare companies. This measure is not a recognized measure of financial performance under GAAP in the United States, and should not be considered as a substitute for operating earnings (losses), net earnings (loss) from continuing operations or cash flows from operating activities, as determined in accordance with GAAP.      Thirteen Weeks Ended Twenty-six Weeks Ended  August 1,August 3,August 1,August 3, (amounts in thousands)2020 2019  2020 2019        Net loss$ (899)$ (8,128) $ (6,306)$ (15,930) Income tax expense -  7   -  16  Loss from fye business, net of tax -  4,370   -  7,826  Interest expense 406  172   634  308  Loss from continuing operations (493) (3,579)  (5,672) (7,780) Corporate SG&A expenses 810  2,833   5,209  5,560  Depreciation expense 516  436   1,007  844  Adjusted EBITDA$ 833 $ (310) $ 544 $ (1,376)   Kaspien provides a platform of software and services to empower brands to grow their online distribution channels on digital marketplaces such as Amazon, Walmart, and eBay, among others. The Company helps brands achieve their online retail goals through its innovative and proprietary technology, tailored strategies, and mutually beneficial partnerships. Kaspien is positioning itself to be a brand’s ultimate online growth partner and is guided by seven core principles:    * Partner Obsession * Insights Driven  * Simplicity   * Innovation * Results   * Ownership   * Diversity and Teamwork   Kaspien, formerly Trans World Entertainment, established itself as a public company in 1986 and is traded on the Nasdaq Capital Market under the symbol “KSPN” formerly “TWMC”.Certain statements in this release set forth management's intentions, plans, beliefs, expectations or predictions of the future based on current facts and analyses.  Actual results may differ materially from those indicated in such statements.  Additional information on factors that may affect the business and financial results of the Company can be found in filings of the Company with the Securities and Exchange Commission.Contact: Kaspien Holdings Inc. Ed Sapienza Chief Financial Officer (509) 202-4261Contact: Kaspien, Inc Kunal Chopra Chief Executive Officer (425) 281-3566Contact: Financial Relations Board Joseph Calabrese jcalabrese@fbir.com (212) 827-3772