Bluestem Group Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended February 2, 2018; Reports Loss on Impairment for the Fourth Quarter of Fiscal 2018
April 25, 2018 at 04:45 pm EDT
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Bluestem Group Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended February 2, 2018. For the quarter, the company reported net sales of $621.341 million against $750.327 million a year ago. Total net sales and revenue was $622.716 million against $758.135 million a year ago. Operating loss was $161.859 million against $357.886 million a year ago. Loss before income taxes was $174.150 million against $371.497 million a year ago. Net loss was $140.466 million against $310.235 million a year ago. Basic and diluted loss per share was $1.06 against $2.36 a year ago. Adjusted EBITDA was $53.348 million against $66.197 million a year ago.
For the year, the company reported net sales were $1,887.655 million against $2,092.030 million a year ago. Total net sales and revenue was $1,891.552 million against $2,100.596 million a year ago. Operating loss was $198.816 million against $393.750 million a year ago. Loss before income taxes was $249.508 million against $447.755 million a year ago. Net loss was $214.310 million against $387.712 million a year ago. Basic and diluted loss per share was $1.62 against $2.92 a year ago. Net cash provided by operating activities was $145.791 million against $145.272 million a year ago. Net purchases of property and equipment was $20.462 million against $43.383 million a year ago. Adjusted EBITDA was $87.872 million against $92.387 million a year ago.
For the quarter, the company reported loss on impairment was $191.919 million against $354.432 million a year ago. Non-cash intangible asset and goodwill impairment charge during the fourth quarter of fiscal 2017 primarily related to the Orchard tradenames and goodwill intangible assets.
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 2, 2018; Reports Loss on Impairment for the Fourth Quarter of Fiscal 2018