- EVINE Live (NASDAQ:EVLV) has fallen 9.9% today, a couple of pennies above a 52-week low, after its Q2 revenues missed though the company said its turnaround was at hand.
- “This second quarter is the final quarter of expected revenue decline, which was related to the year-long rebalancing of our Consumer Electronics mix of business that began in April of last year," says CEO Bob Rosenblatt.
- Revenues fell 5.2% Y/Y and led to a net loss of $2M (flat).
- Gross profit as percentage of sales fell 20 basis points, to 37.9%.
- EBITDA of $3.5M was down 9% but beat an expected $3.08M.
- Net merchandise sales mix: Jewelry and Watches, 40% (vs. year-ago 41%); Home and Consumer Electronics, 23% (vs. year-ago 21%); Beauty, 16% (same as prior); Fashion and Accessories, 21% (vs. year-ago 22%).
- For Q3, it's expecting revenue growth in low single digits and "slightly improved" net income and EPS. For the full year, it's forecasting EBITDA of $18M-$22M (vs. consensus for $20M).
- Press Release
- Now read: EVINE Live Inc. 2017 Q2 - Results - Earnings Call Slides
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