Bluestem Group Inc. Reports Unaudited Consolidated Earnings Results for the 13 Weeks and 39 Weeks Ended October 28, 2016
December 12, 2016 at 10:27 pm EST
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Bluestem Group Inc. reported unaudited consolidated earnings results for the 13 weeks and 39 weeks ended October 28, 2016. For the quarter, the company reported total net sales and revenue of $445,248,000 compared to $482,003,000 a year ago. Operating loss was $20,753,000 against operating income of $21,874,000 a year ago. Loss before income tax was $33,942,000 compared to income before income tax of $7,929,000 a year ago. Net loss was $32,433,000 compared to $9,681,000 a year ago. Basic and diluted net loss per share was $0.25 compared to diluted income per share of $0.03 a year ago. Adjusted LBITDA was $2,198,000 against adjusted EBITDA of $30,929,000 a year ago. Free cash flow was negative $5,912,000 against free cash flow of $22,274,000 a year ago.
For the nine months, the company reported total net sales and revenue of $1,342,461,000 compared to $998,590,000 a year ago. Operating loss was $35,864,000 against operating income of $633,000 a year ago. Loss before income taxes was $76,258,000 compared to $29,586,000 a year ago. Net loss was $77,477,000 compared to net income of $5,964,000 a year ago. Basic and diluted net loss per share was $0.58 compared to basic income per share of $0.04 a year ago. Net cash provided by operating activities was $18,707,000 compared to $24,119,000 a year ago. Net purchase of property and equipment was $36,456,000 compared to $24,578,000 a year ago. Adjusted EBITDA was $25,140,000 against $56,828,000 a year ago.
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.