EVINE Live Reports Fourth Quarter and Full Year Results
March 23 2016 - 5:00AM
Fiscal Year 2015 Fourth Quarter
Highlights
EVINE Live Inc. (NASDAQ:EVLV) today announced results for the
fourth quarter ended January 30, 2016.
“Although the Company had solid revenue growth in the fourth
quarter, we are disappointed with the overall bottom line results,”
said Bob Rosenblatt, Chairman and interim CEO. “The profit erosion
that continued into our fourth quarter doesn’t reflect the
merchandising balance and operational discipline necessary to
deliver consistent growth in value to all stakeholders. We are in
the midst of implementing plans to address these issues, but we are
mindful that it will take some time to fix them in the right way.
Last week we took our first steps toward addressing these issues
and cut our full-year operating expense by $5 million through a
reduction in corporate overhead and other operating costs.”
Rosenblatt continued, “EVINE Live has a proven business model
and we are strongly positioned to continue to use our expertise as
a leader in the digital video commerce space. Our historical
focus on developing proprietary and exclusive brands to broaden our
product offering is proving to be a good idea. However, it is only
one piece of a much broader business strategy that is required to
create profitable results and to build shareholder value. Our work
going forward is centered on building a cohesive merchandising
strategy with clear accountability. With the $17 million bank term
loan from GACP Finance Co., LLC, our recently strengthened balance
sheet provides the Company some additional flexibility in building
long-term relationships with our vendors, as well as the ability to
be more opportunistic in the broader marketplace.”
|
|
SUMMARY RESULTS AND KEY OPERATING
METRICS |
|
($ Millions, except average price points and
EPS) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Q4 2015
01/30/2016 |
|
Q4 2014
01/31/2015 |
|
Change |
|
YTD
01/30/2016 |
|
YTD
01/31/2015 |
|
Change |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
Sales |
|
$ |
211.5 |
|
|
$ |
201.2 |
|
|
|
5 |
% |
|
$ |
693.3 |
|
|
$ |
674.6 |
|
|
|
3 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross
Margin % |
|
|
31.4 |
% |
|
|
32.6 |
% |
|
(120 bps) |
|
|
34.4 |
% |
|
|
36.3 |
% |
|
(190 bps) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted
EBITDA |
|
$ |
4.9 |
|
|
$ |
7.0 |
|
|
|
(29 |
%) |
|
$ |
9.2 |
|
|
$ |
22.8 |
|
|
|
(60 |
%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income
(Loss) |
|
$ |
0.7 |
|
|
$ |
3.3 |
|
|
|
(80 |
%) |
|
$ |
(12.3 |
) |
|
$ |
(1.4 |
) |
|
|
791 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EPS |
|
$ |
0.01 |
|
|
$ |
0.06 |
|
|
|
(83 |
%) |
|
$ |
(0.22 |
) |
|
$ |
(0.03 |
) |
|
|
(633 |
%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Homes (Average
000s) |
|
|
87,719 |
|
|
|
87,889 |
|
|
|
(0 |
%) |
|
|
88,105 |
|
|
|
87,481 |
|
|
|
1 |
% |
|
|
Net Shipped Units
(000s) |
|
|
2,907 |
|
|
|
2,898 |
|
|
|
0 |
% |
|
|
9,853 |
|
|
|
9,055 |
|
|
|
9 |
% |
|
|
Average Selling Price
(ASP) |
|
$ |
66 |
|
|
$ |
63 |
|
|
|
5 |
% |
|
$ |
64 |
|
|
$ |
67 |
|
|
|
(4 |
%) |
|
|
Return Rate % |
|
|
18.9 |
% |
|
|
19.9 |
% |
|
(100 bps) |
|
|
19.8 |
% |
|
|
21.5 |
% |
|
(170 bps) |
|
|
Online Net Sales % |
|
|
49.7 |
% |
|
|
46.1 |
% |
|
360 bps |
|
|
46.9 |
% |
|
|
44.6 |
% |
|
230 bps |
|
|
Total
Customers - 12 Month Rolling (000s) |
|
1,436 |
|
|
|
1,446 |
|
|
|
(1 |
%) |
|
N/A |
|
N/A |
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
% of Net
Sales by Category |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Jewelry &
Watches |
|
|
35 |
% |
|
|
37 |
% |
|
|
|
|
39 |
% |
|
|
42 |
% |
|
|
|
|
Home & Consumer
Electronics |
|
|
39 |
% |
|
|
38 |
% |
|
|
|
|
31 |
% |
|
|
30 |
% |
|
|
|
|
Beauty |
|
|
13 |
% |
|
|
11 |
% |
|
|
|
|
14 |
% |
|
|
12 |
% |
|
|
|
|
Fashion &
Accessories |
|
|
13 |
% |
|
|
14 |
% |
|
|
|
|
16 |
% |
|
|
16 |
% |
|
|
|
|
Total |
|
|
100 |
% |
|
|
100 |
% |
|
|
|
|
100 |
% |
|
|
100 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fourth Quarter 2015 Results
- Consumer Electronics was the fastest growing category at 35%
vs. the prior year, followed by Beauty category at 23% and Fashion
at 3%; Jewelry & Watches declined by 2% and Home declined by
11%.
- Return rate for the quarter was 18.9%; an improvement of 100
basis points year-over-year.
- Gross profit dollars increased 1.3% to $66.4 million. Gross
profit as a percentage of sales decreased 120 basis points to
31.4%, primarily related to the following:
- 60 basis points of gross margin percentage decrease was
attributable to reduced margins from mixing out of Jewelry &
Watches and into Consumer Electronics, partially offset by a
positive mix into Beauty.
- 40 basis points of gross margin rate decrease was attributable
to increased distribution depreciation due to the expansion and
upgrades to our Bowling Green facility.
- Adjusted EBITDA decreased to $4.9 million primarily due to
continued gross profit rate pressure from merchandising mix changes
and increased operating expense.
- Operating income was $1.6 million vs. $3.9 million in the
fourth quarter of last year.
- Operating expense increased $3.1 million to $64.8 million, and
was driven primarily by increased program distribution, and
increased variable expense.
- EPS for the fiscal 2015 fourth quarter decreased to $0.01,
which includes distribution facility consolidation and technology
upgrade costs. EPS for the fiscal 2014 fourth quarter was $0.06,
which included executive and management transition costs.
Full Year 2015 Results
- Consumer Electronics was the fastest growing category at 29%
vs. the prior year, followed by Beauty category at 14% and Fashion
at 10%; Jewelry & Watches declined by 3% and Home declined by
9%.
- Return rate for the year was 19.8%, an improvement of 170 basis
points year-over-year.
- Gross profit dollars decreased 2.7% to $238.5 million. Gross
profit as a percentage of sales decreased 190 basis points to
34.4%, primarily related to the following:
- 30 basis points of gross margin percentage decrease was
attributable to reduced margins from mixing out of Jewelry &
Watches and into Consumer Electronics, partially offset by a
positive mix into Beauty and Fashion.
- 110 basis points of gross profit rate decrease was attributable
to reduced gross profit rate within Jewelry & Watches and
Home.
- 20 basis points of gross margin percentage decrease was
attributable to reduced shipping and handling margin.
- 20 basis points of gross margin rate decrease was attributable
to increased distribution depreciation due to the expansion and
upgrades to our Bowling Green facility.
- Adjusted EBITDA decreased to $9.2 million primarily due to
gross profit rate pressure from merchandising mix changes and
increased operating expense.
- Operating income was ($8.7) million vs. $1.0 for the prior
year.
- Operating expense increased $3.2 million to $247.2 million, and
was driven primarily by increased program distribution and
increased variable expense.
- EPS for the fiscal year decreased to ($0.22), which includes
executive and management transition costs, and distribution
facility consolidation and technology upgrade costs. EPS for fiscal
2014 was ($0.03), which included executive and management
transition costs, and activist shareholder response costs.
Liquidity and Capital Resources
As of January 30, 2016, total cash, including restricted cash,
was $12.3 million, compared to $12.6 million at the end of the
third quarter of fiscal 2015. The Company also had $29.7
million of unused availability on its revolving credit facility
with PNC Bank at the end of the fourth quarter.
On March 10, 2016, EVINE Live closed on a $17 million bank term
loan with GACP Finance Co., LLC. The Company expects to use
the borrowings for general corporate purposes as well as to
strengthen the overall liquidity position of the company.
2016 Outlook
The Company expects sales growth relatively in
line with 2015 with improved Adjusted EBITDA year-over-year.
Conference Call
A conference call to discuss the Company's
fourth quarter earnings will be held at 8:30 a.m. Eastern Time on
Wednesday, March 23, 2016.
Conference Call/Webcast Today, Wednesday, March
23, 2016 at 8:30 a.m. EDT:
WEBCAST
LINK: http://event.on24.com/wcc/r/1133422/6794CB6BDA99C9E566C9EC62A7001D95
TELEPHONE: (877) 407- 9039
PASSCODE: 13630363
Please visit www.evine.com/ir for more investor
information and to review an updated investor deck.
About EVINE Live Inc.
EVINE Live Inc. (NASDAQ:EVLV) is a digital
commerce company that offers a compelling mix of proprietary,
exclusive, and name brands directly to consumers in an engaging and
informative shopping experience via television, online and on
mobile. EVINE Live reaches approximately 88 million cable and
satellite television homes 24 hours a day with entertaining content
that invites its community of customers to shop, share and smile in
a comprehensive digital shopping experience.
Please visit www.evine.com/ir for more investor information.
|
|
EVINE Live
Inc. |
|
AND SUBSIDIARIES |
|
CONSOLIDATED BALANCE SHEETS |
|
(In thousands except share and per share data) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
January 30, |
|
January 31, |
|
|
|
|
|
|
|
|
2016 |
|
|
|
2015 |
|
|
|
|
|
|
|
|
(Unaudited) |
|
|
|
|
|
|
|
|
|
|
|
|
|
ASSETS |
|
Current assets: |
|
|
|
|
|
|
|
Cash |
|
|
$ |
11,897 |
|
|
$ |
19,828 |
|
|
|
Restricted
cash and investments |
|
|
|
450 |
|
|
|
2,100 |
|
|
|
Accounts
receivable, net |
|
|
|
114,949 |
|
|
|
112,275 |
|
|
|
Inventories |
|
|
|
65,840 |
|
|
|
61,456 |
|
|
|
Prepaid
expenses and other |
|
|
|
5,913 |
|
|
|
5,284 |
|
|
|
|
Total
current assets |
|
|
|
199,049 |
|
|
|
200,943 |
|
|
Property and equipment, net |
|
|
|
52,629 |
|
|
|
42,759 |
|
|
FCC
broadcasting license |
|
|
|
12,000 |
|
|
|
12,000 |
|
|
Other assets |
|
|
|
2,085 |
|
|
|
1,989 |
|
|
|
|
|
|
|
|
$ |
265,763 |
|
|
$ |
257,691 |
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND SHAREHOLDERS'
EQUITY |
|
|
|
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
Accounts
payable |
|
|
$ |
77,779 |
|
|
$ |
81,457 |
|
|
|
Accrued
liabilities |
|
|
|
35,342 |
|
|
|
36,683 |
|
|
|
Current
portion of long term credit facility |
|
|
2,143 |
|
|
|
1,736 |
|
|
|
Deferred
revenue |
|
|
|
85 |
|
|
|
85 |
|
|
|
|
Total
current liabilities |
|
|
|
115,349 |
|
|
|
119,961 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital lease liability |
|
|
|
- |
|
|
|
36 |
|
|
Deferred revenue |
|
|
|
164 |
|
|
|
249 |
|
|
Deferred tax liability |
|
|
|
2,734 |
|
|
|
1,946 |
|
|
Long term credit facility |
|
|
|
70,537 |
|
|
|
50,971 |
|
|
|
|
Total
liabilities |
|
|
|
188,784 |
|
|
|
173,163 |
|
|
|
|
|
|
|
|
|
|
|
|
Commitments and contingencies |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shareholders' equity: |
|
|
|
|
|
|
|
Preferred
stock, $.01 par value, 400,000 shares authorized; |
|
|
|
|
|
|
zero shares
issued and outstanding |
|
|
- |
|
|
|
- |
|
|
|
Common
stock, $.01 par value, 100,000,000 shares authorized; |
|
|
|
|
|
|
57,170,245
and 56,448,663 shares issued and outstanding |
|
571 |
|
|
|
564 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Additional
paid-in capital |
|
|
|
423,574 |
|
|
|
418,846 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Accumulated
deficit |
|
|
|
(347,166 |
) |
|
|
(334,882 |
) |
|
|
|
Total
shareholders' equity |
|
|
|
76,979 |
|
|
|
84,528 |
|
|
|
|
|
|
|
|
$ |
265,763 |
|
|
$ |
257,691 |
|
|
|
|
|
|
|
|
|
|
|
|
EVINE Live
Inc. |
|
|
AND
SUBSIDIARIES |
|
|
CONSOLIDATED STATEMENTS
OF OPERATIONS |
|
|
(Unaudited) |
|
|
(In thousands, except share and per share
data) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the
Three-Month Periods
Ended |
|
For the Twelve
Month Periods Ended |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
January 30, |
|
January 31, |
|
January 30, |
|
January 31, |
|
|
|
|
|
|
|
2016 |
|
|
|
2015 |
|
|
|
2016 |
|
|
|
2015 |
|
|
|
Net
sales |
$ |
211,542 |
|
|
$ |
201,224 |
|
|
$ |
693,312 |
|
|
$ |
674,618 |
|
|
|
Cost of
sales |
|
145,133 |
|
|
|
135,683 |
|
|
|
454,832 |
|
|
|
429,570 |
|
|
|
|
|
|
Gross profit |
|
66,409 |
|
|
|
65,541 |
|
|
|
238,480 |
|
|
|
245,048 |
|
|
|
|
|
|
Margin % |
|
31.4 |
% |
|
|
32.6 |
% |
|
|
34.4 |
% |
|
|
36.3 |
% |
|
|
Operating
expense: |
|
|
|
|
|
|
|
|
|
|
Distribution and selling |
|
56,134 |
|
|
|
53,283 |
|
|
|
209,328 |
|
|
|
202,579 |
|
|
|
|
General and administrative |
|
6,442 |
|
|
|
5,938 |
|
|
|
24,520 |
|
|
|
23,983 |
|
|
|
|
Depreciation and amortization |
|
2,105 |
|
|
|
1,980 |
|
|
|
8,474 |
|
|
|
8,445 |
|
|
|
|
Executive and management transition costs |
|
- |
|
|
|
485 |
|
|
|
3,549 |
|
|
|
5,520 |
|
|
|
|
Distribution facility consolidation and technology upgrade
costs |
|
81 |
|
|
|
- |
|
|
|
1,347 |
|
|
|
- |
|
|
|
|
Activist shareholder response costs |
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
3,518 |
|
|
|
|
|
Total
operating expense |
|
64,762 |
|
|
|
61,686 |
|
|
|
247,218 |
|
|
|
244,045 |
|
|
|
Operating income
(loss) |
|
1,647 |
|
|
|
3,855 |
|
|
|
(8,738 |
) |
|
|
1,003 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
. |
|
Other
expense: |
|
|
|
|
|
|
|
|
|
|
Interest income |
|
2 |
|
|
|
2 |
|
|
|
8 |
|
|
|
10 |
|
|
|
|
Interest expense |
|
(763 |
) |
|
|
(388 |
) |
|
|
(2,720 |
) |
|
|
(1,572 |
) |
|
|
|
|
Total
other expense |
|
(761 |
) |
|
|
(386 |
) |
|
|
(2,712 |
) |
|
|
(1,562 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) before income
taxes |
|
886 |
|
|
|
3,469 |
|
|
|
(11,450 |
) |
|
|
(559 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income tax provision |
|
(219 |
) |
|
|
(210 |
) |
|
|
(834 |
) |
|
|
(819 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
(loss) |
$ |
667 |
|
|
$ |
3,259 |
|
|
$ |
(12,284 |
) |
|
$ |
(1,378 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss) per common
share |
$ |
0.01 |
|
|
$ |
0.06 |
|
|
$ |
(0.22 |
) |
|
$ |
(0.03 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss) per common
share |
|
|
|
|
|
|
|
|
|
|
|
---assuming
dilution |
$ |
0.01 |
|
|
$ |
0.06 |
|
|
$ |
(0.22 |
) |
|
$ |
(0.03 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number of |
|
|
|
|
|
|
|
|
|
common shares outstanding: |
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
57,158,427 |
|
|
|
56,357,182 |
|
|
|
57,004,321 |
|
|
|
53,458,662 |
|
|
|
|
|
|
Diluted |
|
57,158,427 |
|
|
|
57,598,309 |
|
|
|
57,004,321 |
|
|
|
53,458,662 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EVINE Live Inc. |
|
AND SUBSIDIARIES |
|
Reconciliation of Adjusted EBITDA to Net
Income (Loss): |
|
(Unaudited) |
|
|
|
|
|
|
|
|
|
|
|
For the Three-Month
Periods Ended |
|
For the Twelve-Month
Periods Ended |
|
|
|
|
|
|
|
|
|
|
|
January 30, |
January 31, |
|
January 30, |
January 31, |
|
|
|
|
2016 |
|
|
2015 |
|
|
|
2016 |
|
|
2015 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted EBITDA
(000's) |
|
$ |
4,926 |
|
$ |
6,952 |
|
|
$ |
9,206 |
|
$ |
22,773 |
|
|
Less: |
|
|
|
|
|
|
|
Activist
shareholder response costs |
|
|
- |
|
|
- |
|
|
|
- |
|
|
(3,518 |
) |
|
Executive and
management transition costs |
|
|
- |
|
|
(485 |
) |
|
|
(3,549 |
) |
|
(5,520 |
) |
|
Distribution facility consolidation and technology upgrade
costs |
|
(81 |
) |
|
- |
|
|
|
(1,347 |
) |
|
- |
|
|
Shareholder
Rights Plan costs |
|
|
- |
|
|
- |
|
|
|
(446 |
) |
|
- |
|
|
Non-cash
share-based compensation |
|
|
(136 |
) |
|
(522 |
) |
|
|
(2,275 |
) |
|
(3,860 |
) |
|
EBITDA (as
defined) |
|
|
4,709 |
|
|
5,945 |
|
|
|
1,589 |
|
|
9,875 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
A reconciliation of
EBITDA to net income (loss) is as follows: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EBITDA
(as defined) |
|
|
4,709 |
|
|
5,945 |
|
|
|
1,589 |
|
|
9,875 |
|
|
Adjustments: |
|
|
|
|
|
|
|
Depreciation and amortization |
|
|
(3,062 |
) |
|
(2,090 |
) |
|
|
(10,327 |
) |
|
(8,872 |
) |
|
Interest income |
|
|
2 |
|
|
2 |
|
|
|
8 |
|
|
10 |
|
|
Interest expense |
|
|
(763 |
) |
|
(388 |
) |
|
|
(2,720 |
) |
|
(1,572 |
) |
|
Income taxes |
|
|
(219 |
) |
|
(210 |
) |
|
|
(834 |
) |
|
(819 |
) |
|
Net income (loss) |
|
$ |
667 |
|
$ |
3,259 |
|
|
$ |
(12,284 |
) |
$ |
(1,378 |
) |
|
|
|
|
|
|
|
|
|
Adjusted EBITDA
EBITDA represents net income (loss) for the
respective periods excluding depreciation and amortization expense,
interest income (expense) and income taxes. The Company defines
Adjusted EBITDA as EBITDA excluding non-operating gains (losses);
activist shareholder response costs; executive and management
transition costs; distribution facility consolidation and
technology upgrade costs; Shareholder Rights Plan costs and
non-cash share-based compensation expense. The Company has included
the term “Adjusted EBITDA” in our EBITDA reconciliation in order to
adequately assess the operating performance of our television and
online businesses and in order to maintain comparability to our
analyst's coverage and financial guidance, when given. Management
believes that the term Adjusted EBITDA allows investors to make a
more meaningful comparison between our business operating results
over different periods of time with those of other similar
companies. In addition, management uses Adjusted EBITDA as a metric
to evaluate operating performance under the Company’s management
and executive incentive compensation programs. Adjusted EBITDA
should not be construed as an alternative to operating income
(loss), net income (loss) or to cash flows from operating
activities as determined in accordance with generally accepted
accounting principles and should not be construed as a measure of
liquidity. Adjusted EBITDA may not be comparable to similarly
entitled measures reported by other companies. The Company has
included a reconciliation of Adjusted EBITDA to net income (loss),
the most directly comparable GAAP financial measure, in this
release.
Safe Harbor Statement Under the Private
Securities Litigation Reform Act of 1995
This release may contain certain
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. Such statements may be
identified by words such as anticipate, believe, estimate, expect,
intend, predict, hope, should, plan, will or similar expressions.
Any statements contained herein that are not statements of
historical fact may be deemed forward-looking statements. These
statements are based on management's current expectations and
accordingly are subject to uncertainty and changes in
circumstances. Actual results may vary materially from the
expectations contained herein due to various important factors,
including (but not limited to): consumer preferences, spending and
debt levels; the general economic and credit environment; interest
rates; seasonal variations in consumer purchasing activities; the
ability to achieve the most effective product category mixes to
maximize sales and margin objectives; competitive pressures on
sales; pricing and gross sales margins; the level of cable and
satellite distribution for our programming and the associated fees;
our ability to establish and maintain acceptable commercial terms
with third-party vendors and other third parties with whom we have
contractual relationships, and to successfully manage key vendor
relationships and develop key partnerships and proprietary brands;
our ability to manage our operating expenses successfully and our
working capital levels; our ability to remain compliant with our
credit facilities covenants; our ability to successfully transition
our brand name and corporate name; customer acceptance of our new
branding strategy and our repositioning as a digital commerce
company; the market demand for television station sales; changes to
our management and information systems infrastructure; challenges
to our data and information security; changes in governmental or
regulatory requirements; litigation or governmental proceedings
affecting our operations; significant public events that are
difficult to predict, or other significant television-covering
events causing an interruption of television coverage or that
directly compete with the viewership of our programming; our
ability to obtain and retain key executives and employees; our
ability to attract new customers and retain existing customers;
changes in shipping costs; our ability to offer new or innovative
products and customer acceptance of the same; changes in customer
viewing habits or television programming; and the risks identified
under “Risk Factors” in our recently filed Form 10-K and any
additional risk factors identified in our periodic reports since
the date of such Form 10-K. More detailed information about those
factors is set forth in our filings with the Securities and
Exchange Commission, including our annual report on Form 10-K,
quarterly reports on Form 10-Q, and current reports on Form 8-K.
You are cautioned not to place undue reliance on forward-looking
statements, which speak only as of the date of this announcement.
We are under no obligation (and expressly disclaim any such
obligation) to update or alter the Company’s forward-looking
statements whether as a result of new information, future events or
otherwise.
Contacts
Media:
Dawn Zaremba
EVINE Live Inc.
press@evine.com
(952) 943-6043
Investors:
Jason Iannazzo
EVINE Live Inc.
jiannazzo@evine.com
(952) 943-6126
Evolv Technologies (NASDAQ:EVLV)
Historical Stock Chart
From Jun 2024 to Jul 2024
Evolv Technologies (NASDAQ:EVLV)
Historical Stock Chart
From Jul 2023 to Jul 2024