April 06, 2021
Net loss came in at €3.2 million ($3.6 mm) for the fourth quarter against last year’s earnings of €1.7 million on sales inching down 1% to €147.7 million ($168.2 mm) from €147.4 million, but digital was a bright spot, growing 85% to €39.0 million, or 26% of the top line.
The four activist funds waging a proxy battle to gain five seats on the mass merchant’s board released another broadside leveled at KSS’ management, as it seeks to gain shareholder votes at the May 12 annual meeting.
The DKNY and Donna Karen brand owner, which also has a significant league licensed apparel business, sees Standard & Poor’s revise its outlook to stable from negative, based on improving financial results.
The U.S. Postal Service posted a letter on its web site, accusing the Eager Beavertons of using its trademark on the Air Force 1 USPS special edition without a license or authorization.
Errol Andam, a former manager in the Eager Beavertons’ North American retail brand marketing division, was charged in Portland, OR, federal court in Feb. with embezzling at least $1,495,435.45 from the company.