Bluestem Group Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended August 3, 2018
September 17, 2018 at 08:45 pm EDT
Share
Bluestem Group Inc. reported unaudited consolidated earnings results for the second quarter and six months ended August 3, 2018. For the quarter, the company's net sales were $422.198 million compared with $438.893 million a year ago, a 3.8% decrease. Total net sales and revenue was $422,557,000 compared to $438,595,000 a year ago. Operating income was $17.040 million compared with loss of $2.423 million a year ago. Profit before income taxes was $4.527 million compared with loss of $15.174 million a year ago. Net income was $6.111 million or $0.05 per basic and diluted share compared with loss of $14.343 million or $0.11 per basic and diluted share a year ago. Adjusted EBITDA was $30.946 million compared to $18.568 million a year ago.
For the six months, the company's net sales were $803.258 million compared with $866.515 million a year ago. Total net sales and revenue was $804.012 million compared to $867.922 million a year ago. Operating loss was $10.159 million compared with loss of $31.873 million a year ago. Loss before income taxes was $35.274 million compared with loss of $57.489 million a year ago. Net loss was $34.001 million or $0.26 per basic and diluted share compared with loss of $57.365 million or $0.43 per basic and diluted share a year ago. Net cash provided by operating activities was $46.016 million compared with $37.531 million a year ago. Net purchases of property and equipment was $9.581 million compared with $8.885 million a year ago. Adjusted EBITDA was $16.753 million compared to $24.864 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.