sequential brands group contact info for creative team

Even as the vaccines are widely administered, we cannot predict when government restrictions and mandates will be imposed or lifted, or how quickly, if at all, retail stores and customers will return to their pre-COVID-19 purchasing behaviors, so we cannot predict how long our results of operations and financial performance will be impacted. Both have led to a reduction in orders from retailers for certain types of products bearing some of our brands. For the year ended December 31, 2020, COVID-19 caused a significant reduction in retail stores that remained open, as well as a change in consumer purchasing behavior for specific types of products. As states continue to relax and then tighten restrictions, we are unsure when retail stores will be ordered to close, at what capacity, or how long such periods of store closures will be needed or mandated. The impact of the COVID-19 pandemic and the pace at which there are new developments has created significant uncertainty in the current economic environment. Adjusted EBITDA from continuing operations for the year ended Decemwas $56.9 million, compared to $45.8 million in the prior year period.

Non-GAAP net loss from continuing operations for the year ended Decemwas $14.5 million, or $8.79 per diluted share, compared to a non-GAAP net loss of $16.0 million, or $9.82 per diluted share, in the prior year period. For both GAAP and non-GAAP financial measures, included in the loss from continuing operations for the year ended Decemwere non-cash impairment charges of $85.6 million for indefinite-lived intangible assets related to the trademarks for the Jessica Simpson, Gaiam, Joe’s and Ellen Tracy brands reflecting the financial impacts of COVID-19 and a $2.9 million loss resulting from the Company’s entry into agreement to exit its remaining lease obligation from its former office headquarters. On a GAAP basis, loss from continuing operations for the year ended Decemwas $88.1 million or $53.54 per diluted share, compared to loss from continuing operations of $34.3 million or $21.21 per diluted share for the year ended December 31, 2019. Total revenue from continuing operations for the year ended Decemwas $89.8 million, compared to $101.6 million in the prior year period. Adjusted EBITDA from continuing operations (defined under “Non-GAAP Financial Measures” below) for the fourth quarter of 2020 was $13.2 million, compared to $8.0 million in the prior year quarter.)įull Year 2020 Results from Continuing Operations: See Non-GAAP Financial Measure Reconciliation tables below for a reconciliation of GAAP to non-GAAP measures. Non-GAAP net loss from continuing operations for the fourth quarter 2020 was $4.5 million, or $2.73 per diluted share, compared to a non-GAAP net loss of $8.9 million, or $5.48 per diluted share, in the prior year quarter. For both GAAP and non-GAAP financial measures, included in loss from continuing operations for the fourth quarter 2020 was a $2.9 million loss resulting from the Company’s entry into agreement to exit its remaining lease obligation from its former office headquarters. On a GAAP basis, loss from continuing operations for the fourth quarter 2020 was $4.4 million or $2.65 per diluted share, compared to loss from continuing operations for the fourth quarter 2019 of $7.9 million or $4.87 per diluted share. Total revenue from continuing operations for the fourth quarter ended Decemwas $23.0 million, compared to $24.2 million in the prior year quarter. As a result of the Reverse Stock Split, the Company regained compliance with the minimum bid price listing rules of The Nasdaq Stock Market.įourth Quarter 2020 Results from Continuing Operations: Prior periods have been reclassified to reflect the change in the Company’s stated capital attributable to common stock which was reduced proportionately to the Reverse Stock Split ratio, and the additional paid-in capital account which was credited with the amount by which common stock was reduced.

All share and per share amounts in this press release reflect the Reverse Stock Split.

On July 27, 2020, the Company’s previously announced 1 share-for-40 shares (1:40) reverse stock split (the “Reverse Stock Split”) of the Company’s outstanding common stock, par value $0.01 per share became effective. (“Sequential” or the “Company”) (Nasdaq:SQBG) today announced financial results for the fourth quarter and full year ended December 31, 2020. NEW YORK, Ap(GLOBE NEWSWIRE) - Sequential Brands Group, Inc.

Sequential brands group contact info for creative team