Part of Q report.
Big take away Strategic Alternative work now.......
7:22 am ET March 27, 2019 (Globe Newswire) Print
Evine Live Inc. ("Evine") (NASDAQ: EVLV) today announced results for the fourth quarter and full year ended February 2, 2019. In addition, the Company announced it is reviewing strategic alternatives to enhance shareholder value.
Fiscal Year 2018 Fourth Quarter Financial Summary
Fiscal Year 2018 Operating Highlights
Review of Strategic Alternatives
The company today announced that its Board of Directors initiated a process to review strategic alternatives to enhance shareholder value which could include a potential sale or strategic partnership. The Company has retained Guggenheim Securities as its financial advisor.
Executive Commentary - Bob Rosenblatt, CEO
"We had a strong first half of 2018 that saw both top-line and bottom-line growth. This followed two years of substantial progress, including stabilizing the business, improving the balance sheet and building a strong team and culture. That's what makes the results over the last two quarters so disappointing. We are confident in our strategy and committed to our plan, and we are focused on reversing the recent trends, which we believe to be short-term. Maximizing shareholder value remains our top priority. Due to increased interest in our direct to consumer platform, as well as inquiries regarding our expertise in video commerce, product development and 3rd party logistics, we saw an opportunity to explore strategic options. Video commerce is more relevant today than when we started on this journey three years ago. We believe that there is strong interest in our brand, in our access to over 87 million homes and in our proficiency in producing video and digital content that tells the story behind brands and products. As we progress through this process, including reviewing a comprehensive list of ways to enhance shareholder value, we remain focused on growing our business, and are confident, that despite our recent financial trends, we are on the right path."
