×
68 911
Fashion Jobs
MACY'S
Asset Protection Detective, Shoppes at Buckland Hills - Full Time
Permanent · Manchester
MACY'S
Manager, Operations - Shipping/Exceptions - 4x10
Permanent · Owasso
MACY'S
Asset Protection Captain, Ross Park Mall - Full Time
Permanent · Pittsburgh
MACY'S
Asset Protection Detective, Fresno Fashion Fair - Part Time
Permanent · Fresno
MACY'S
Manager, Operations
Permanent · Joppatowne
MACY'S
Asset Protection Detective, Burlington - Full Time
Permanent · Burlington
MACY'S
Asset Protection Security Guard, Boston - Part Time
Permanent · Boston
MACY'S
Manager, Omni Operations
Permanent · Springfield
MACY'S
Asset Protection Security Guard, Cross County - Full Time
Permanent · Yonkers
MACY'S
Manager, Merchandise Execution
Permanent · Columbus
MACY'S
Asset Protection Security Guard, Topanga - Full Time
Permanent · Los Angeles
MACY'S
Asset Protection Detective, University Town Center - Full Time
Permanent · San Diego
MACY'S
Asset Protection Security Guard, Green Acres - Full Time
Permanent · Valley Stream
MACY'S
Asset Protection Security Guard, Concord - Full Time
Permanent · Wilmington
MACY'S
Director, User Experience Design Transact
Permanent · New York
MACY'S
Asset Protection Security Guard, South Park - Full Time
Permanent · Colonial Heights
MACY'S
Beauty Account Coordinator
Permanent · Houston
MACY'S
Manager, Vendor Paid Sales- Benefit Cosmetics
Permanent · New York
BLOOMINGDALE'S
Asset Protection Outlet Associate, Part Time: Upper West Side
Permanent · New York
BLOOMINGDALE'S
Logistics Manager
Permanent · Millburn
MICHAEL KORS
pt Sales Supervisor, Lakeside - Metairie, la
Permanent · New Orleans
GAP INC.
Project Manager People Services And Operations
Permanent · San Francisco
Published
Mar 14, 2020
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Losses continue to mount at Sequential Brands Group

Published
Mar 14, 2020

As recently appointed CEO David Conn sets about writing a new chapter for the New York-based brand management company, Sequential Brands Group, Inc. announced declining sales and widening losses in both the fourth quarter and full fiscal year 2019 on Friday.
 

Sequential Brands Group's portfolio includes the Jessica Simpson, Gaiam, Avia and William Rast brands, among others - Instagram: @jessicasimpsonstyle


For the fourth quarter ended December 31, 2019, the company, which owns the Jessica Simpson, Gaiam, Avia and William Rast brands, among others, announced revenue from continuing operations of $24.2 million, down 31% from $35.2 million in the prior-year period.
 
Quarterly loss from continuing operations totaled $7.9 million, or $0.12 per diluted share, widening from a loss of $5.7 million, or $0.09 per diluted share in Q4 2018.

For the full year 2019, Sequential Brands Group’s revenue from continuing operations totaled $101.6 million, down 20% from $127.3 million in fiscal 2018.
 
The company’s annual loss from continuing operations totaled $34.3 million, or $0.53 per diluted share, compared to a loss of $17.5 million, or $0.27 per diluted share, in the previous year.
 
“A transformation is underway at Sequential Brands Group,” commented Conn in a release. “We successfully simplified our business with the divestiture of our home division, significantly reduced our overhead to drive meaningful margin improvement, and amended our lending agreements to improve our liquidity and cash flow.”
 
Conn joined Sequential Brands from ThreeSixty Group in January of this year, succeeding Karen Murray, whose departure from the company was announced at the end of 2019, just over two years after she stepped into the CEO role.
 
Having sold its Martha Stewart and Emeril Lagasse brands earlier in the year, in October 2019 Sequential Brands announced that it was beginning a strategic review process considering the possibility of divesting further parts of its business.
 
Concluding his comments on the company’s financial results, Conn made it clear that, moving forward, this process is one of the group’s top priorities.
 
“As we look ahead, we are focused on completing the previously announced strategic review process and best positioning our portfolio of brands for long-term growth,” he said.

Copyright © 2022 FashionNetwork.com All rights reserved.