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Article Date: November 2020
Word Count: 205

Sequential Brands Reports Q3 Profit as CEO Exits


Net income was $4,437,000 in the third quarter against a loss of $18,680,000 last year, helped by a $3.7 million gain on the sale of two non-core brands in July, and lapping last year’s $33.1 million impairment charge in the period. Licensing revenues were off 5% to $24,024,000 from $25,392,000, but active brands And1, Gaiam, Spy and Avia were called out for strong sales at retail licensees Amazon, Kohl’s, Walmart and Target. SQBG warned that some of its licensees have asked to defer making scheduled payments, which has the potential to impact cash flows and also future profitability. It noted ... Log in to view full article.

 


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