Please wait while we load the requested 10-Q report or click the link below:
FINAL: FOR RELEASE
RTW RETAILWINDS, INC. ANNOUNCES 2019 1st QUARTER RESULTS
~ Reports Operating Results In Line with Guidance ~
~ Launched Two New Digital Businesses in the Quarter ~
~ Reports $83.2 Million in Cash / $1.27 Per Diluted Share with No Debt Outstanding ~
New York, New York May 29, 2019 RTW Retailwinds, Inc. [NYSE:RTW], an omni-channel specialty apparel retail platform for powerful celebrity and consumer brands, today announced results for the first quarter of fiscal year 2019 ended May 4, 2019.
For the first quarter, we executed against our strategic plan of growing our multi-brand portfolio by continuing to build our Fashion to Figure business and by bringing to market digitally native brands that address customer opportunities. Regarding Fashion to Figure, we are pleased to see the ongoing implementation of our strategic plan resonate with the customer, as reflected in the brands 30% comp for the quarter. In addition, on April 4th we introduced Happy x Nature, Kate Hudsons first ready-to-wear collection supported by Kates active and engaged social network. On April 25th, we introduced Uncommon Sense, a lingerie lifestyle brand which solves the challenges many women face in their lingerie choices through smarter fits, technology, and support that looks great and feels amazing, said Gregory Scott, RTW Retailwinds, Inc. CEO.
That said, we were disappointed by our first quarter performance in our core New York & Company business with February performance being particularly challenging, though we did experience sequential improvement throughout the quarter during the combined March and April period, Mr. Scott continued. Traffic, along with new customer acquisition and weak results from our SoHo Jeans sub-brand contributed to the overall disappointing results in the first quarter.
Moving on to the second quarter, we did experience improved performance during the first two weeks of May, including the Mothers Day holiday. This improvement is reflected in our guidance for the second quarter, which includes the continued investments in our new businesses, said Mr. Scott
Looking ahead to our long term growth, as announced today we are pleased to announce that Traci Inglis will be joining RTW in June as our President, Chief Marketing and Customer Officer. In this newly created position, Traci brings exactly what we are looking for with her track record in translating customer data, analytics, and insights into innovative, customer-first strategies. She joins us at an important time in our multi-brand evolution and her experience will be incredibly important to our portfolio of brands as we work to reinvent the way we market and deliver experiences to our customers across all channels. Traci is the ideal leader to leverage the power of our information to engage customers and build digital brands through optimized customer experiences and new customer acquisition. I look forward to working with her on building for the future of RTW and transforming our customer journey across our portfolio of brands, according to Mr. Scott.
The following information was filed by Rtw Retailwinds, Inc. (RTW) on Thursday, May 30, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
View differences made from one quarter to another to evaluate Rtw Retailwinds, Inc.'s financial trajectory
Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were
removed , and by Rtw Retailwinds, Inc..