Bluestem Group Inc. Reports Consolidated Unaudited Earnings Results for the Third Quarter and Nine Months Ended November 3, 2017
December 20, 2017 at 05:08 pm EST
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Bluestem Group Inc. reported consolidated unaudited earnings results for the third quarter and nine months ended November 3, 2017. For the quarter, the company reported total net sales and revenue of $400,913,000 compared with $445,248,000 for the same period last year. Operating loss was $5,085,000 compared with $20,753,000 for the same period last year. Loss before income taxes was $17,870,000 compared with $33,942,000 for the same period last year. Net loss was $16,480,000 or $0.12 per basic and diluted share compared with $32,433,000 or $0.25 per basic and diluted share for the same period last year. Adjusted EBITDA was $9,659,000 compared with adjusted LBITDA of $2,198,000 for the same period last year.
For the nine months, the company reported total net sales and revenue of $1,268,836,000 compared with $1,342,461,000 for the same period last year. Operating loss was $36,957,000 compared with $35,864,000 for the same period last year. Loss before income taxes was $75,358,000 compared with $76,258,000 for the same period last year. Net loss was $73,844,000 or $0.56 per basic and diluted share compared with $77,477,000 or $0.58 per basic and diluted share for the same period last year. Net cash provided by operating activities was $52,228,000 compared with $18,707,000 for the same period last year. Net purchases of property and equipment was $14,604,000 compared with $36,456,000 for the same period last year. Adjusted EBITDA was $34,524,000 compared with $25,140,000 for the same period last year.
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.