Bluestem Group Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended February 3, 2017; Reports Impairment Charges for the Fourth Quarter of 2017
April 26, 2017 at 09:01 pm
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Bluestem Group Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended February 3, 2017. For the quarter, the company reported Net Sales were $750.327 million against $737.682 million a year ago. Operating loss was $357.886 million against profit of $15.884 million a year ago. Loss before income taxes was $371.497 million against profit of $2.183 million a year ago. Net loss was $310.235 million against profit of $8.248 million a year ago. Basic and diluted loss per share was $2.36 against profit of $0.06 a year ago. Total net sales and revenue was $758.135 million against $744.449 million a year ago. Adjusted EBITDA was $66.197 million against $80.637 million a year ago.
For the year, the company reported Net Sales were $2,092.030 million against $1,720.189 million a year ago. Operating loss was $393.750 million against profit of $16.521 million a year ago. Loss before income taxes was $447.755 million against $27.399 million a year ago. Net loss was $387.712 million against profit of $14.215 million a year ago. Basic and diluted loss per share was $2.92 against profit of $0.10 a year ago. Net cash provided by operating activities was $145.272 million against $95.173 million a year ago. Net purchases of property and equipment was $43.383 million against $35.935 million a year ago. Total net sales and revenue was $2,100.596 million against $1,743.041 million a year ago. Adjusted EBITDA was $92.387 million against $137.380 million a year ago.
For the quarter, the company reported loss on impairment was $354.432 million against $20.200 million a year ago. Impairment charges are against intangible assets and goodwill primarily related to the Fingerhut brand and the trends in that business.
Bluestem Group Inc. is a holding company. The Company's businesses include Bluestem Brands, Inc. (Bluestem Brands), a multi-brand, online retailer of a selection of name-brand and private-label general merchandise serving low- to middle-income consumers through retail brands. Bluestem Brands' retail brands include Appleseed's, Bedford Fair, Blair, Draper's & Damon's, Gettington, Gold Violin, Fingerhut, Haband, LinenSource, Norm Thompson, Old Pueblo Traders, PayCheck Direct, Sahalie, Solutions, Tog Shop and WinterSilks. Appleseed's offers apparel and updates to classic styles for women. Appleseed's assortment includes misses, petites and women's sizes in tops and blouses, sweaters, pants, outerwear, sleepwear and accessories, among others. Bedford Fair offers versatile separates, coordinated outfits, casual styles and dressier options, among others. Blair offers women's and men's apparel and accessories, as well as decor and furnishings for every room in the home.
Bluestem Group Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended February 3, 2017; Reports Impairment Charges for the Fourth Quarter of 2017