Hedge funds and large money managers usually invest with a focus on the long-term horizon and, therefore, short-lived dips or bumps on the charts, usually don't make them change their opinion towards a company. This time it may be different. During the fourth quarter of 2018 we observed increased volatility and a 20% drop in […]
NEW YORK, March 06, 2020 -- Sequential Brands Group, Inc. ("Sequential" or the "Company") (NASDAQ:SQBG) will issue financial results for its fourth quarter and full year.
Q4 2019 Sequential Brands Group Inc Earnings Call
(Bloomberg) -- Sequential Brands Group Inc., the parent company of brands including the Jessica Simpson fashion collection and Heelys sneakers, cast doubt on its ability to continue as a going concern and said it may struggle to pay its debt obligations as the Covid-19 pandemic squeezes retail.The company said in an earnings release Friday that it isn’t likely to be able to comply with certain financial covenants in its credit agreement in the next 12 months. It’s planning to work with its lenders on an amendment to the terms but said it can’t guarantee that creditors would agree to the changes.Sequential said it has enough cash to cover its operating expenses for at least a year, but can’t determine the full impact of the pandemic as retail sales in the U.S. plunge to record lows. Many retailers that carry Sequential’s brands were closed in March, April and May, denting revenues for the licensing company.“While the coronavirus pandemic has significantly impacted the U.S. economy and the apparel and accessories industry, we plan to weather the storm by remaining laser focused on managing cash inflows, instituting further expense reductions, and negotiating short-term lender relief,” Chief Executive Officer David Conn said in prepared remarks.New York-based Sequential owns and licenses a number of consumer fashion and activewear brands including Jessica Simpson’s clothing and shoe line, Joe’s Jeans, Heelys shoes and the Gaiam yoga business. It ended the first-quarter with $13.3 million of cash on hand and roughly $439 million of long-term debt on its balance sheet.Sequential has been working to increase its liquidity to help it get through the pandemic. In addition to working with lenders, it’s drawn $14.1 million on a revolving credit line, implemented temporary salary cuts and decreased marketing spending.Retailers across the country are struggling with plunging revenues as the coronavirus keeps physical stores shut and consumers at home. J. Crew Group and Neiman Marcus Group filed for bankruptcy last week citing ongoing losses and decreased sales.The company’s roughly $400 million term loan due 2022 last traded around 96 cents on the dollar, according to people familiar with the pricing. Total revenue for the first quarter was $20.2 million, down from $25.5 million in the same period a year ago.Sequential’s stock has dropped nearly 43% this year through Friday morning in New York, giving the company a market capitalization of $13 million.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Sequential Brands (SQBG) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
NEW YORK, March 13, 2020 -- Sequential Brands Group, Inc. (“Sequential” or the “Company”) (Nasdaq:SQBG) today announced financial results for the fourth quarter and full year.
NEW YORK, May 12, 2020 -- Sequential Brands Group, Inc. ("Sequential" or the "Company") (NASDAQ:SQBG) will issue financial results for its first quarter ended March 31, 2020.
NEW YORK, May 15, 2020 -- Sequential Brands Group, Inc. (“Sequential” or the “Company”) (Nasdaq:SQBG) today announced financial results for the first quarter ended March 31,.
Sequential Brands Group, Inc. (“Sequential” or the “Company”) (SQBG), along with Jessica Simpson, announces a new, multi-year licensing agreement with Centric Brands Inc. to develop, manufacture and distribute the entertainer and entrepreneur's handbag and jewelry collections. “We are thrilled to be working with a powerhouse like Centric Brands on our handbags and jewelry collections,” Simpson said.
NEW YORK, Nov. 01, 2019 -- Sequential Brands Group, Inc. ("Sequential" or the "Company") (NASDAQ:SQBG) will issue financial results for its third quarter ended September 30,.
NEW YORK, Nov. 08, 2019 -- Sequential Brands Group, Inc. (“Sequential” or the “Company”) (Nasdaq:SQBG) today announced financial results for the third quarter ended September.
Q3 2019 Sequential Brands Group Inc Earnings Call
Sequential Brands Group, Inc. ("Sequential" or the "Company") (SQBG) announced today that, due to the public health impact of COVID-19 and the uncertainty of using the Company’s facilities, the Company will hold its 2020 Annual Meeting of Stockholders in a virtual meeting format only, via audio webcast. The date and time of the meeting and the proposals to be presented to stockholders at the meeting are unchanged. Registered holders of the Company’s common stock as of April 9, 2020, can attend, vote and ask questions at the meeting by accessing the meeting center site at www.meetingcenter.io/237191399 and entering the 15-digit control number found on the previously sent proxy card or Notice of Internet Availability of Proxy Materials and the meeting password, SQBG2020.
The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...
Sequential Brands Group, Inc. ("Sequential" or the "Company") (SQBG) today announced that its Board of Directors is conducting a broad review of strategic alternatives focused on maximizing shareholder value. Such strategic alternatives may include the divestiture of one or more existing brands, the acquisition of one or more new brands, a stock buyback program, and other initiatives. "After having received unsolicited interest for several of our brands from multiple parties, Sequential’s Board of Directors is engaging in this formal process to ensure that we are evaluating all alternatives to best further the interest of our shareholders,” said William Sweedler, Chairman of Sequential.
Shares of Sequential Brands Group Inc. plummeted 18% in morning trading Friday, after the consumer brands licensing company, which brands include And 1 and Jessica Simpson, issued a "going concern" warning as the COVID-19 pandemic has led to the closing of many retailers carrying its products. The company said that while it believes it currently had enough cash available to fund operations for 12 months, and although it was in compliance with financial covenants as of March 31, the company is not currently expected to be in compliance with certain amended covenants in the next 12 months as a result of the impact of the COVID-19 pandemic. If it fails to comply with the financial covenants, and event of default would be triggered. Sequential Brands said it was working with its creditors to amend the covenants but it can't provide any assurances that amendments would be approved. "The risk of non-compliance creates a material uncertainty that casts substantial doubt with respect to the ability of the company to continue as a going concern," the company stated. The "going concern" language was not in the annual report filed on March 31. Separately, the company reported a first-quarter net loss that narrowed to $86.6 million, or $1.32 a share, from a loss of $125.3 million, or $1.95 a share, in the year-ago period, as revenue fell 21% to $20.2 million. The stock has tumbled 48% year to date, while the S&P 500 has lost 12%.
Sequential Brands Group, Inc. (SQBG) (the “Company”) today announced that it granted to David Conn as an inducement to accept his appointment as Chief Executive Officer of the Company, 200,000 restricted stock units with respect to the Company’s common stock, $0.01 par value (“Common Stock”), 400,000 restricted stock units with respect to the Common Stock, vesting in three equal annual installments, and 900,000 performance stock units to be eligible for vesting for the fiscal years ended 2020, 2021 and 2022, subject to achievement of performance goals to be determined by the Board. The inducement grants were made as an inducement award in accordance with NASDAQ Listing Rule 5635(c)(4) and were not granted under the Company’s 2013 Stock Incentive Plan (the “2013 Plan”) but are subject to the same terms and conditions as provided in the 2013 Plan.
Sequential Brands Group, Inc. (SQBG) (the "Company") today announced that brand executive David Conn has been appointed Director and Chief Executive Officer of the Company. Conn brings with him over 25 years of experience and vast knowledge in brand management and marketing. Most recently, he served as CEO of ThreeSixty Brands, where he played a significant role in acquiring and relaunching the iconic FAO Schwarz and Sharper Image brands.
A look into how Martha Stewart took her home-based catering business and turned it into a billion dollar media empire.
Today we'll do a simple run through of a valuation method used to estimate the attractiveness of Sequential Brands...