Bluestem Group Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended May 5, 2017
June 20, 2017 at 04:51 pm
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Bluestem Group Inc. reported unaudited consolidated earnings results for the first quarter ended May 5, 2017. For the quarter, the company's net sales were $427.622 million compared with $428.516 million a year ago. Operating loss was $29.461 million compared with $18.473 million a year ago. Loss before income taxes was $42.316 million compared with $31.996 million a year ago. Net loss was $43.023 million or $0.33 per basic and diluted share compared with $33.756 million or $0.25 per basic and diluted share a year ago. Net cash used in operating activities was $13.768 million compared with $48.862 million a year ago. Net purchases of property and equipment was $3.788 million compared with $15.287 million a year ago. Adjusted EBITDA was $6.295 million compared with $1.566 million 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.