Stock Monitor: Lands' End Post Earnings Reporting
LONDON, UK / ACCESSWIRE / April 19, 2018 / Active-Investors.com has just released a free earnings report on EVINE Live Inc. (NASDAQ: EVLV) ("EVINE").If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=EVLV. The Company reported its fourth quarter fiscal 2017 and full fiscal year 2017 operating and financial results on March 14, 2018. The home shopping Company's earnings were in-line with market expectations. Additionally, the Company provided guidance for the fiscal year 2018. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is currently working on the research report for Lands' End, Inc. (NASDAQ: LE), which also belongs to the Services sector as the Company EVINE Live. Do not miss out and become a member today for free to access this upcoming report at:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, EVINE Live most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/?symbol=EVLV
Earnings Highlights and Summary
For the 14-week quarter ended February 03, 2018, EVINE's net sales were $192.7 million, up 1.2% compared to $190.5 million in Q4 2016. The Company's revenue numbers lagged analysts' estimates of $202.2 million.
For the 53-week year ended February 03, 2018, EVINE's net sales fell 2.7% to $648.2 million compared to $666.2 million in FY16.
During Q4 2017, EVINE's gross profit as a percentage of sales decreased 20 basis points to 33.8% compared to 34.0% in Q4 2016, primarily driven by a merchandise mix. The Company's gross profit increased 0.4% to $65.1 million on a y-o-y basis. For Q4 2017, EVINE's adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) advanced 19% to $7.7 million compared to $6.4 million in Q4 2016.
For Q4 2017, EVINE reported a net income of $6.4 million, or $0.10 per share, compared to $2.0 million, or $0.03 per share, in Q4 2016. The Company's earnings met Wall Street's estimates of $0.10 per share.
For FY17, EVINE recorded a net income of $0.1 million, or $0.00 per share, including executive and management transition costs of $0.03 per share, and a loss on debt extinguishment of $0.02 per share, offset by a net tax benefit from the Boston station sale of $0.05 per share, and a gain on the Boston station sale $0.01 per share. For FY16, the Company recorded a net loss of $8.7 million, or $0.15 loss per share, comprising of executive and management transition costs of $0.07 per share, and distribution facility consolidation and technology upgrade costs of $0.01 per share.
Operating Results
During Q4 2017, EVINE's net shipped units totaled 3,052, down 3% compared to 3,132 million in Q4 2016. The Company's average selling price was $57 in the reported quarter, up 6% compared to $54 in the prior year's same quarter.
For Q4 2017, EVINE's return rate was 19.0%, reflecting an increase of 60 basis points versus the year ago comparable period. The Company's total customers were 1,295 on a month rolling basis, down 9% compared to 1,429 in Q4 2016.
Liquidity and Capital Resources
As of February 03, 2018, EVINE's total cash was $24 million compared to $23 million at the end of Q3 2017. The Company also had an additional $18 million of unused availability on its revolving credit facility with PNC Bank, which gives the Company a total liquidity of approximately $42 million as of the end of Q4 2017.
Outlook
For the full fiscal year 2018, EVINE is forecasting normalized sales growth to be in the range of 2% to 5% on a 52-week over 52-week basis, which equates to 0% to 3% on a reported basis, due to the extra week in the fiscal year 2017. The Company is estimating adjusted EBITDA to be in the band of $19 million to $21 million, which would reflect a growth of 5% to 17% on a y-o-y basis.
Stock Performance Snapshot
April 18, 2018 - At Wednesday's closing bell, EVINE Live's stock dropped 1.79%, ending the trading session at $0.85.
Volume traded for the day: 42.42 thousand shares.
After yesterday's close, EVINE Live's market cap was at $53.93 million.
The stock is part of the Services sector, categorized under the Catalog & Mail Order Houses industry. This sector was up 0.9% at the end of the session.
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