PIK Kidpik Corporation

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): August 15, 2023

 

Kidpik Corp.

(Exact name of registrant as specified in its charter)

 

Delaware		001-41032		81-3640708
(State or other jurisdiction of incorporation or organization)		(Commission File Number)		(I.R.S. Employer Identification Number)

 

200 Park Avenue South, 3rd Floor New York, New York		10003
(Address of principal executive offices)		(Zip Code)

 

Registrant’s telephone number, including area code: (212) 399-2323

 

Not Applicable

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, $0.001 par value per share		PIK		The NASDAQ Stock Market LLC

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ☒

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

Item 2.02 Results of Operations and Financial Condition.

 

On August 15, 2023, Kidpik Corp. (“Kidpik” or the “Company”) issued a press release, and will hold a live teleconference call regarding, among other things, its financial results for the 13 and 26 weeks ended July 1, 2023. A copy of the press release, which includes information on the live teleconference call, and a summary of such financial results is furnished as Exhibit 99.1 to this Form 8-K and incorporated herein by reference.

 

The information contained in this Current Report and Exhibit 99.1 hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended or the Exchange Act, except as expressly set forth by specific reference in such a filing.

 

The Company is making reference to non-GAAP financial information in the press release and the conference call. A reconciliation of these non-GAAP financial measures to the comparable GAAP financial measures is contained in the attached press release.

 

This Current Report on Form 8-K, including the press release furnished as Exhibit 99.1 to this Current Report on Form 8-K, contains forward-looking statements within the meaning of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, and, as such, may involve known and unknown risks, uncertainties and assumptions. You can identify these forward-looking statements by words such as “may,” “should,” “expect,” “anticipate,” “believe,” “estimate,” “intend,” “plan” and other similar expressions. These forward-looking statements relate to the Company’s current expectations and are subject to the limitations and qualifications set forth in the press release and presentation as well as in the Company’s other filings with the Securities and Exchange Commission, including, without limitation, that actual events and/or results may differ materially from those projected in such forward-looking statements. These statements also involve known and unknown risks, which may cause the results of the Company, its divisions and concepts to be materially different than those expressed or implied in such statements, including, but not limited to those referenced in the press release. Accordingly, readers should not place undue reliance on any forward-looking statements. Forward-looking statements may include comments as to the Company’s beliefs and expectations as to future financial performance, events and trends affecting its business and are necessarily subject to uncertainties, many of which are outside the Company’s control. More information on potential factors that could affect the Company’s financial results is included from time to time in the “Cautionary Note Regarding Forward-Looking Statements,” “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s periodic and current filings with the SEC, including the Form 10-Qs and Form 10-Ks, filed with the SEC and available at www.sec.gov and in the “Investors” – “Financial Info” – “SEC Filings” section of the Company’s website at https://investor.kidpik.com/sec-filings. Forward-looking statements speak only as of the date they are made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise that occur after that date, except as otherwise provided by law.

 

Item 9.01 Financial Statements and Exhibits.

 

Exhibit No.		Description
99.1*		Press Release of Kidpik Corp., dated August 15, 2023
104		Inline XBRL for the cover page of this Current Report on Form 8-K

 

* Furnished herewith.

 

The inclusion of any website address in this Form 8-K, and any exhibit thereto, is intended to be an inactive textual reference only and not an active hyperlink. The information contained in, or that can be accessed through, such website is not part of or incorporated into this Form 8-K.

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Dated: August 15, 2023

 

	Kidpik Corp.
	By:	/s/ Ezra Dabah
	Name:	Ezra Dabah
	Title:	Chief Executive Officer

 

 

Exhibit 99.1

 

KIDPIK Reports Second Quarter 2023 Financial Results

 

NEW YORK, August 15, 2023 / PRNewswire/—Kidpik Corp. (“KIDPIK” or the “Company”), an online clothing subscription-based e-commerce company, today reported its financial results for the second quarter ended July 1, 2023.

 

Second Quarter 2023 Highlights:

 

	●	Revenue, net: was $3.4 million, a year over year decrease of 8.6%
	●	Gross margin: was 60.2%, a year over year decrease of 80 basis points from 61.0% in the second quarter of 2022
	●	Shipped items: were 290,000 items, compared to 354,000 shipped items in the second quarter of 2022
	●	Average shipment keep rate: increased to 75.1%, compared to 69.2% in the second quarter of 2022
	●	Net Loss: was $2.0 million or $0.26 per share
	●	Adjusted EBITDA: was a loss of $1.7 million (see “Non-GAAP Financial Measures”, below)

 

“During the 2^nd quarter, we continued to execute our plan to reduce inventory levels, while maintaining our gross margin of about 60%. Our 2^nd quarter earnings were, for the most part, consistent with our 1^st quarter,” commented Ezra Dabah, CEO of Kidpik.

 

“We have elevated the look and feel of our brand for Back-to-School. Our creatives showcase the advancement, capturing the beauty of our collection and the confidence children feel while wearing Kidpik outfits. We invite you to visit kidpik.com and shop.kidpik.com to view our back-to-school collection and experience the technology that drives it,” concluded Mr. Dabah.

 

 

Kidpik Corp.

Condensed Interim Statements of Operations

(Unaudited)

 

		For the 13 weeks ended								For the 26 weeks ended
		July 1, 2023				July 2, 2022				July 1, 2023				July 2, 2022
Revenues, net		$	3,448,919			$	3,774,668			$	7,478,397			$	8,100,665
Cost of goods sold			1,372,563				1,473,380				2,991,789				3,207,294
Gross profit			2,076,356				2,301,288				4,486,608				4,893,371
Operating expenses
Shipping and handling			949,734				959,141				2,138,956				2,091,225
Payroll and related costs			1,094,135				1,346,744				2,205,236				2,945,980
General and administrative			2,024,871				1,552,890				4,049,435				3,483,783
Depreciation and amortization			12,426				6,654				23,113				12,319
Total operating expenses			4,081,166				3,865,429				8,416,740				8,533,307
Operating loss			(2,004,810	)			(1,564,141	)			(3,930,132	)			(3,639,936	)
Other expenses
Interest expense			24,415				7,925				49,605				29,600
Other (income) expense			-				-				-				(286,795	)
			24,415				7,925				49,605				(257,195	)
			(2,029,225	)			(1,572,066	)			(3,979,737	)			(3,382,741	)
Provision for income taxes			-				-				-				-_
Net loss		$	(2,029,225	)		$	(1,572,066	)		$	(3,979,737	)		$	(3,382,741	)
Net loss per share attributable to common stockholders:
Basic			(0.26	)			(0.21	)			(0.52	)			(0.44	)
Diluted			(0.26	)			(0.21	)			(0.52	)			(0.44	)
Weighted average common shares outstanding:
Basic			7,731,195				7,636,493				7,709,695				7,655,359
Diluted			7,731,195				7,636,493				7,709,695				7,655,359

 

 

Kidpik Corp.

Condensed Interim Balance Sheets

 

		July 1, 2023				December 31, 2022
		(Unaudited)				(Audited)
Assets
Current assets
Cash		$	158,141			$	600,595
Restricted cash			4,618				4,618
Accounts receivable			156,396				336,468
Inventory			9,755,705				12,625,948
Prepaid expenses and other current assets			897,194				1,043,095
Total current assets			10,972,054				14,610,724
Leasehold improvements and equipment, net			120,965				67,957
Operating lease right-of-use assets			1,201,105				1,469,665
Total assets		$	12,294,124			$	16,148,346
Liabilities and Stockholders’ Equity
Current liabilities
Accounts payable		$	1,702,425			$	2,153,389
Accounts payable, related party			1,538,902				1,107,665
Accrued expenses and other current liabilities			419,683				587,112
Operating lease liabilities, current			329,654				438,957
Short-term debt, related party			2,050,000				2,050,000
Total current liabilities			6,040,664				6,337,123
Operating lease liabilities, net of current portion			925,014				1,061,469
Total liabilities			6,965,678				7,398,592
Commitments and contingencies
Stockholders’ equity
Preferred stock, par value $0.001, 25,000,000 shares authorized, of which no shares are issued and outstanding as of July 1, 2023 and December 31, 2022, respectively			-				-
Common stock, par value $0.001, 75,000,000 shares authorized, of which 7,769,717 shares are issued and outstanding as of July 1, 2023 and 7,688,194 shares issued and outstanding on December 31, 2022			7,770				7,688
Additional paid-in capital			50,834,858				50,276,511
Accumulated deficit			(45,514,182	)			(41,534,445	)
Total stockholders’ equity			5,328,446				8,749,754
Total liabilities and stockholders’ equity		$	12,294,124			$	16,148,346

 

 

Kidpik Corp.

Condensed Interim Statements of Cash Flows

(Unaudited)

 

		26 Weeks Ended
		July 1, 2023				July 2, 2022
Cash flows from operating activities
Net loss		$	(3,979,737	)		$	(3,382,741	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization			23,113				12,319
Amortization of debt issuance costs			-				-
Equity-based compensation			558,429				1,051,088
Bad debt expense			151,362				241,057
Changes in operating assets and liabilities:
Accounts receivable			28,710				(69,959	)
Inventory			2,870,243				(1,180,833	)
Prepaid expenses and other current assets			145,901				57,175
Operating lease right-of-use assets and liabilities			22,802				5,033
Accounts payable			(450,965	)			(1,061,068	)
Accounts payable, related parties			431,238				(129,753	)
Accrued expenses and other current liabilities			(167,429	)			(345,378	)
Net cash used in operating activities			(366,333	)			(4,803,060	)
Cash flows from investing activities
Purchases of leasehold improvements and equipment			(76,121	)			(31,317	)
Net cash used in investing activities			(76,121	)			(31,317	)
Cash flows from financing activities
Cash used to settle net share equity awards			-				(33,692	)
Net proceeds from line of credit			-				-
Net proceeds (repayments) from advance payable			-				(932,155	)
Net proceeds (repayments) from loan payable			-				(150,000	)
Net cash provided by (used in) financing activities			-				(1,115,847	)
Net (decrease)/increase in cash and restricted cash			(442,454	)			(5,950,224	)
Cash and restricted cash, beginning of period			605,213				8,420,500
Cash and restricted cash, end of period		$	162,759			$	2,470,276
Reconciliation of cash and restricted cash:
Cash		$	158,141			$	2,465,831
Restricted cash			4,618				4,445
		$	162,759			$	2,470,276
Supplemental disclosure of cash flow data:
Interest paid		$	-			$	20,577
Taxes paid		$	-			$	-
Supplemental disclosure of non-cash flow data:
Record right-of use asset and operating lease liabilities		$	-				1,857,925

 

 

Revenue by Channel

 

		13 weeks ended July 1, 2023				13 weeks ended July 2, 2022				Change ($)				Change (%)
Revenue by channel
Subscription boxes		$	2,607,543			$	2,974,550			$	(367,007	)			(12.3	)%
3rd party websites			426,914				559,077				(132,163	)			(23.6	)%
Online website sales			414,462				241,041				173,421				71.9	%
Total revenue		$	3,448,919			$	3,774,668			$	(325,749	)			(8.6	)%

 

		26 weeks ended July 1, 2023				26 weeks ended July 2, 2022				Change ($)				Change (%)
Revenue by channel
Subscription boxes		$	5,579,110			$	6,458,401			$	(879,291	)			(13.6	)%
3rd party websites			863,212				1,108,577				(245,365	)			(22.1	)%
Online website sales			1,036,075				533,687				502,388				94.1	%
Total revenue		$	7,478,397			$	8,100,665			$	(622,268	)			(7.7	)%

 

Subscription Boxes Revenue

 

		13 weeks ended July 1, 2023				13 weeks ended July 2, 2022				Change ($)				Change (%)
Subscription boxes revenue from
Active subscriptions – recurring boxes		$	2,177,298			$	2,650,324			$	(473,026	)			(17.8	)%
New subscriptions - first box			430,245				324,226				106,019				32.7	%
Total subscription boxes revenue		$	2,607,543			$	2,974,550			$	(367,007	)			(12.3	)%

 

		26 weeks ended July 1, 2023				26 weeks ended July 2, 2022				Change ($)				Change (%)
Subscription boxes revenue from
Active subscriptions – recurring boxes		$	4,578,324			$	5,786,892			$	(1,208,568	)			(20.9	)%
New subscriptions - first box			1,000,786				671,509				329,277				49.0	%
Total subscription boxes revenue		$	5,579,110			$	6,458,401			$	(879,291	)			(13.6	)%

 

 

Revenue by Product Line

 

		13 weeks ended July 1, 2023				13 weeks ended July 2, 2022				Change ($)				Change (%)
Revenue by product line
Girls’ apparel		$	2,636,965			$	2,762,669			$	(125,704	)			(4.6	)%
Boys’ apparel			640,937				821,650				(180,713	)			(22.0	)%
Toddlers’ apparel			171,017				190,349				(19,332	)			(10.5	)%
Total revenue		$	3,448,919			$	3,774,668			$	(325,749	)			(8.6	)%

 

		26 weeks ended July 1, 2023				26 weeks ended July 2, 2022				Change ($)				Change (%)
Revenue by product line
Girls’ apparel		$	5,684,721			$	6,019,561			$	(334,840	)			(5.6	)%
Boys’ apparel			1,428,096				1,689,445				(261,349	)			(15.5	)%
Toddlers’ apparel			365,580				391,659				(26,079	)			(6.7	)%
Total revenue		$	7,478,397			$	8,100,665			$	(622,268	)			(7.7	)%

 

Balance Sheet and Cash Flow

 

	●	Cash at the end of the second quarter of 2023 totaled $0.2 million compared to $0.6 million as of December 31, 2022.
	●	Net cash used in operating activities was $0.4 million for the 26 weeks ended July 1, 2023, compared to $4.8 million of cash used in operating activities for the 26 weeks ended July 2, 2022.
	●	As of July 1, 2023, we had $11.0 million in total current assets, $6.0 million in total current liabilities and working capital of $4.9 million.

 

RESULTS OF OPERATIONS

 

The Company’s revenue, net, is disaggregated based on the following categories:

 

		For the 13 weeks ended								For the 26 weeks ended
		July 1, 2023				July 2, 2022				July 1, 2023				July 2, 2022
Subscription boxes		$	2,607,543			$	2,974,550			$	5,579,110			$	6,458,401
3rd party websites			426,914				559,077				863,212				1,108,577
Online website sales			414,462				241,041				1,036,075				533,687
Total revenue		$	3,448,919			$	3,774,668			$	7,478,397			$	8,100,665

 

Gross Margin

 

		For the 13 weeks ended								For the 26 weeks ended
		July 1, 2023				July 2, 2022				July 1, 2023				July 2, 2022
Gross margin			60.2	%			61.0	%			60.0	%			60.4	%

 

 

Gross profit is equal to our net sales less cost of goods sold. Gross profit as a percentage of our net sales is referred to as gross margin. Cost of sales consists of the purchase price of merchandise sold to customers and includes import duties and other taxes, freight in, returns from customers, inventory write-offs, and other miscellaneous shrinkage.

 

Shipped Items

 

We define shipped items as the total number of items shipped in a given period to our customers through our active subscription, Amazon and online website sales.

 

For the 13 weeks ended

For the 26 weeks ended

(in thousands)

(in thousands)

July 1, 2023

July 2, 2022

July 1, 2023

July 2, 2022

Shipped Items

290

354

630

725

 

Average Shipment Keep Rate

 

Average shipment keep rate is calculated as the total number of items kept by our customers divided by total number of shipped items in a given period.

 

		For the 13 weeks ended								For the 26 weeks ended
		July 1, 2023				July 2, 2022				July 1, 2023				July 2, 2022
Average Shipment Keep Rate			75.1	%			69.2	%			71.3	%			69.8	%

 

Non-GAAP Financial Measures

 

We report our financial results in accordance with generally accepted accounting principles in the United States (“GAAP”). However, management believes that certain non-GAAP financial measures provide users of our financial information with additional useful information in evaluating our performance. We believe that adjusted EBITDA is frequently used by investors and securities analysts in their evaluations of companies, and that this supplemental measure facilitates comparisons between companies. This non-GAAP financial measure may be different than similarly titled measures used by other companies.

 

Our non-GAAP financial measures should not be considered in isolation from, or as substitutes for, financial information prepared in accordance with GAAP. Adjusted EBITDA has limitations as an analytical tool, and you should not consider it in isolation or as a substitute for analysis of our results as reported under GAAP. Some of these limitations are:

 

	●	Although depreciation and amortization are non-cash charges, the assets being depreciated and amortized may have to be replaced in the future, and Adjusted EBITDA does not reflect cash capital expenditure requirements for such replacements or for new capital expenditure requirements;
	●	Adjusted EBITDA does not reflect changes in, or cash requirements for, our working capital needs;
	●	Adjusted EBITDA does not consider the potentially dilutive impact of equity-based compensation;
	●	Adjusted EBITDA does not reflect tax payments that may represent a reduction in cash available to us;
	●	Adjusted EBITDA does not reflect certain non-routine items that may represent a reduction in cash available to us; and
	●	Other companies, including companies in our industry, may calculate Adjusted EBITDA differently, which reduces its usefulness as a comparative measure.

 

 

We compensate for these limitations by providing a reconciliation of this non-GAAP measure to the most comparable GAAP measure. We encourage investors and others to review our business, results of operations, and financial information in their entirety, not to rely on any single financial measure, and to view this non-GAAP measure in conjunction with the most directly comparable GAAP financial measure. For more information on these non-GAAP financial measure, please see the section titled “Unaudited Reconciliation of Net Loss to Adjusted Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)”, included below.

 

Unaudited Reconciliation of Net Loss to Adjusted Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)

 

We define adjusted EBITDA as net loss excluding interest income, other (income) expense, net, provision for income taxes, depreciation and amortization, and equity-based compensation expense. The following table presents a reconciliation of net loss, the most comparable GAAP financial measure, to adjusted EBITDA for each of the periods presented:

 

		For the 13 weeks ended								For the 26 weeks ended
		July 1, 2023				July 2, 2022				July 1, 2023				July 2, 2022
Net loss		$	(2,029,225	)		$	(1,572,066	)		$	(3,979,737	)		$	(3,382,741	)
Add (deduct)
Interest expense			24,415				7,925				49,605				29,600
Other (income)/expense, net			-				-				-				(286,795	)
Provision for income taxes			-				-				-				-
Depreciation and amortization			12,426				6,654				23,113				12,319
Equity-based compensation			290,953				433,924				558,429				1,051,088
Adjusted EBITDA		$	(1,701,431	)		$	(1,123,563	)		$	(3,348,590	)		$	(2,576,529	)

 

Earnings Call Information:

 

Today at 4:30pm ET, the Company will host a live teleconference call that is accessible over the internet at the company’s website, https://investor.kidpik.com and additionally by dialing at 1-877-407-9039 or at 1-201-689-8470 for international callers.

 

A replay of the conference call will be available approximately two hours after the conclusion of the call on the investor relations section of the KIDPIK website at https://investor.kidpik.com or by dialing 1-844-512-2921, or 1-412-317-6671, internationally, with the Replay Pin Number: 13738787. The replay will be available until August 25, 2023.

 

About Kidpik Corp.

 

Founded in 2016, KIDPIK (NASDAQ:PIK) is an online clothing subscription box for kids, offering mix & match, expertly styled outfits that are curated based on each member’s style preferences. KIDPIK delivers a surprise box monthly or seasonally, providing an effortless shopping experience for parents and a fun discovery for kids. Each seasonal collection is designed in-house by a team with decades of experience designing childrenswear. KIDPIK combines the expertise of fashion stylists with proprietary data and technology to translate kids’ unique style preferences into surprise boxes of curated outfits. We also sell our branded clothing and footwear through our e-commerce website, shop.kidpik.com. For more information, visit www.kidpik.com.

 

 

Forward-Looking Statements

 

This press release may contain statements that constitute “forward-looking statements” within the federal securities laws, including The Private Securities Litigation Reform Act of 1995, which provide a safe-harbor for forward-looking statements. In particular, when used in the preceding discussion, the words “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “will,” “would” and variations of these terms and similar expressions, or the negative of these terms or similar expressions are intended to identify forward-looking statements within the meaning of such laws, and are subject to the safe harbor created by such applicable laws. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of KIDPIK to be materially different than those expressed or implied in such statements. The forward-looking statements may include projections and estimates of KIDPIK’s corporate strategies, future operations and plans, including the costs thereof. We have based these forward-looking statements on our current expectations and assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate under the circumstances. However, whether actual results and developments will conform with our expectations and predictions is subject to a number of risks and uncertainties, including our ability to obtain additional funding, the terms of such funding and potential dilution caused thereby; the continuing effect of rising interest rates and inflation on our operations, sales, and market for our products; deterioration of the global economic environment; rising interest rates and inflation and our ability to control our costs, including employee wages and benefits and other operating expenses; our history of losses; our ability to achieve profitability; our ability to execute our growth strategy and scale our operations and risks associated with such growth; our ability to maintain current members and customers and grow our members and customers; risks associated with the effect of global pandemics, and governmental responses thereto on our operations, those of our vendors, our customers and members and the economy in general; risks associated with our supply chain and third-party service providers, interruptions in the supply of raw materials and merchandise; increased costs of raw materials, products and shipping costs due to inflation; disruptions at our warehouse facility and/or of our data or information services; issues affecting our shipping providers; disruptions to the internet; risks that effect our ability to successfully market our products to key demographics; the effect of data security breaches, malicious code and/or hackers; increased competition and our ability to maintain and strengthen our brand name; changes in consumer tastes and preferences and changing fashion trends; material changes and/or terminations of our relationships with key vendors; significant product returns from customers, excess inventory and our ability to manage our inventory; the effect of trade restrictions and tariffs, increased costs associated therewith and/or decreased availability of products; our ability to innovate, expand our offerings and compete against competitors which may have greater resources; certain anti-dilutive, drag-along and tag-along rights which may be deemed to be held by a former minority stockholder; our significant reliance on related party transactions and loans; the fact that our Chief Executive Officer has majority voting control over the Company; if the use of “cookie” tracking technologies is further restricted, regulated, or blocked, or if changes in technology cause cookies to become less reliable or acceptable as a means of tracking consumer behavior; our ability to comply with the covenants of future loan and lending agreements and covenants; our ability to prevent credit card and payment fraud; the risk of unauthorized access to confidential information; our ability to protect our intellectual property and trade secrets, claims from third-parties that we have violated their intellectual property or trade secrets and potential lawsuits in connection therewith; our ability to comply with changing regulations and laws, penalties associated with any non-compliance (inadvertent or otherwise), the effect of new laws or regulations, and our ability to comply with such new laws or regulations; changes in tax rates; our reliance and retention of our current management; the outcome of future lawsuits, litigation, regulatory matters or claims; the fact that we have a limited operating history; the effect of future acquisitions on our operations and expenses; our significant indebtedness; and others that are included from time to time in filings made by KIDPIK with the Securities and Exchange Commission, many of which are beyond our control, including, but not limited to, in the “Cautionary Note Regarding Forward-Looking Statements” and “Risk Factors” sections in its Form 10-Ks and Form 10-Qs and in its Form 8-Ks, which it has filed, and files from time to time, with the U.S. Securities and Exchange Commission, including, but not limited to its Annual Report on Form 10-K for the year ended December 31, 2022 and its Quarterly Report on Form 10-Q for the quarter ended July 1, 2023. These reports are available at www.sec.gov and on our website at https://investor.kidpik.com/sec-filings. The Company cautions that the foregoing list of important factors is not complete. All subsequent written and oral forward-looking statements attributable to the Company or any person acting on behalf of the Company are expressly qualified in their entirety by the cautionary statements referenced above. Other unknown or unpredictable factors also could have material adverse effects on KIDPIK’s future results and/or could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements. The forward-looking statements included in this press release are made only as of the date hereof. KIDPIK cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. We undertake no obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable laws and take no obligation to update or correct information prepared by third parties that is not paid for by the Company. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.

 

Contacts

 

Investor Relations Contact:

ir@kidpik.com

Media:

press@kidpik.com

 

 

 

 

v3.23.2

Cover	Aug. 15, 2023
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Aug. 15, 2023
Entity File Number	001-41032
Entity Registrant Name	Kidpik Corp.
Entity Central Index Key	0001861522
Entity Tax Identification Number	81-3640708
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	200 Park Avenue South
Entity Address, Address Line Two	3rd Floor
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10003
City Area Code	(212)
Local Phone Number	399-2323
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, $0.001 par value per share
Trading Symbol	PIK
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	false
Entity Information, Former Legal or Registered Name	Not Applicable

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