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RTW Retailwinds, Inc.

No Longer Reporting

The company has not filed an annual or quarterly report since its FY2019 10-K, filed Jun 9, 2020. Its latest SEC filing is a SC 13G/A from Feb 10, 2021.

The sections below describe the company as of the FY2019 annual report.

What Did They Do?

Sells women's apparel and accessories through retail stores and online to women shopping for work and everyday wear.

How Did They Make Money?

Customers pay for merchandise when they take it from a store or when an online order ships. The company also receives royalties based on sales made with its store-branded credit card and spreads a signing bonus over the card agreement's term.

FY2017 revenue

Who Were Their Customers?

Women shopping for apparel and accessories buy through the company's retail stores and online storefronts.

Did Revenues Turn Into Profits?

Yes. It kept 1 cent of every revenue dollar as net income in FY2017 and turned 1 cent into free cash flow.

Operating income, FY2017
1% of revenue
▲ Now profitable vs FY2016 (−$15.4M, −2%)
Net income, FY2017
1% of revenue
▲ Now profitable vs FY2016 (−$17.3M, −2%)
Free cash flow, FY2017
1% of revenue
▼ −72% vs FY2016 ($30.5M, 3%)

How Were They Changing?

Since the FY2019 annual report
  • Dec 17, 2020 Court confirmed a liquidation plan for the company Remaining assets move to a liquidating trust; common stockholders will receive no distribution.
  • Oct 26, 2020 Auditor BDO resigned, and no replacement was selected
  • Oct 2, 2020 Sold its eCommerce business and related intellectual property Saadia Group bought the online business, including its websites and rental subscription businesses.

Held flat. Revenue was $926.9M in FY2017, about the same as the $939.2M of FY2013.

Broader brand portfolio The earlier report centered on New York & Company merchandise; the latest describes a broader portfolio that includes Fashion to Figure, Happy x Nature and celebrity collaborations.

Greater digital emphasis The earlier report emphasized connecting store and online shopping; the latest described plans to shift more of its business online and reduce its store base, then discontinued its omnichannel infrastructure investment.

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