DAVIDsTEA Inc. (NASDAQ:DTEA) Files An 8-K Results of Operations and Financial Condition
Item 2.02 Results of Operations and Financial Condition
On May 2, 2019 DAVIDsTEA Inc., a corporation incorporated under the Canada Business Corporations Act (the Company), issued a press release announcing its financial results for the three months and yearended February 2, 2019. A copy of the press release is furnished as Exhibit99.1 hereto. The Company intends to hold an investor call and webcast to discuss these results on Thursday, May 2, 2019 at 4:30 P.M.Eastern Standard Time.
The information presented under Item 2.02 in this Current Report on Form 8-K and the accompanying exhibit attached herein shall not be deemed filed for purposes of Section18 of the Securities Exchange Act of 1934, as amended (the Exchange Act), or otherwise subject to the liability of that section, nor shall it be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits
(d)Exhibits.
DAVIDsTEA Inc. Exhibit
EX-99.1 2 dtea_ex991.htm PRESS RELEASE dtea_ex991.htmEXHIBIT 99.1 DAVIDsTEA Announces Fourth Quarter and Fiscal 2018 Financial Results Q4 2018 Financial and Operational Highlights: Ø Sales decreased 4.1% to $83.1 million and comparable store sales declined 1.6% Ø 20.2% increase in wholesale and e-commerce sales Ø Operating loss1 of $1.3 million compared to loss of $8.4 million in Q4-17 Ø Adjusted EBITDA1 of $10.9 million Ø Net cash position of $42.1 million Other: Ø Wholesale expansion within Canada’s largest retail network,…
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About DAVIDsTEA Inc. (NASDAQ:DTEA)
DAVIDsTEA Inc. is engaged in the retail and online sale of tea, tea accessories, and food and beverages in Canada and in the United States. The Company’s segments include Canada and the U.S. The Company is a branded retailer of specialty tea, offering approximately 150 loose-leaf teas, pre-packaged teas, tea sachets and tea-related gifts, accessories, and food and beverages primarily through approximately 190 DAVIDsTEA stores, which are operated by the Company, and its Website, davidstea.com. Additionally, the Company offers on-the-go tea beverages in its retail stores. The Company’s tea accessories include tea mugs, travel mugs, teacup sets, teapots, tea makers, kettles, infusers, filters, frothers, tins and spoons. The Company offers beverages range from the standard hot or iced tea to its Tea Lattes. The Company’s different flavors of loose-leaf tea span eight tea categories: white, green, oolong, black, pu’erh, mate, rooibos and herbal tea.