Mattress Tub & Past continues to battle mightily.
The near-dead house items retailer launched its long-awaited vacation quarter outcomes on Tuesday morning, and the image isn’t fairly.
Listed here are seven numbers that stood out to Yahoo Finance and clarify why the corporate is on the point of destroy:
Web gross sales crashed 33% from the prior yr.
Comparable digital gross sales fell a whopping 33%.
Mattress Tub & Past banner comparable gross sales plunged 34%.
BuyBuyBaby banner comparable gross sales tanked within the “low 20” share space.
Adjusted working lack of $225 million.
Solely $153.1 million in money on the steadiness sheet.
150 shops nonetheless anticipated to be closed.
The Firm’s Futures Hangs within the Stability
Mattress Tub & Past mentioned final week that chapter is on the desk as it really works to shore up its tattered steadiness sheet after a disastrous vacation procuring season.
CEO Sue Gove reiterated on the earnings launch at the moment that each one choices stay on the desk to save lots of the retailer.
“As we shared final week, we proceed to work with advisors as we think about all strategic options to perform our near- and long-term objectives,” Gove said. “Now we have a workforce, internally and externally, with confirmed expertise serving to corporations efficiently navigate complicated conditions and turn out to be stronger. A number of paths are being explored and we’re figuring out our subsequent steps totally, and in a well timed method. We’re dedicated to updating all stakeholders on our plans as they develop and finalize – notably our workers and companions, who’re the important catalysts of our enterprise and the cornerstones of our future.”
Brian Sozzi is an editor-at-large and anchor at Yahoo Finance. Comply with Sozzi on Twitter @BrianSozzi and on LinkedIn.
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