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Mahwah Bergen Retail Group, Inc.

No Longer Reporting

The company has not filed an annual or quarterly report since its Q1 FY2021 10-Q, filed Mar 3, 2021. Its latest SEC filing is a 8-K from Mar 8, 2021.

The sections below describe the company as of the FY2020 annual report.

What Did They Do?

Sells apparel and accessories for women and tween girls through retail stores and online brand sites.

Who Were Their Customers?

Women and tween girls shop the company’s apparel brands through its stores and brand websites; LOFT and Justice also sell through international franchise stores.

Did Revenues Turn Into Profits?

Not on paper. It lost $1.1B in FY2020, but brought in more cash than it spent: $66.5M of free cash flow.

Operating income, FY2020
−32% of revenue
▲ +74% (Loss) vs FY2019 (−$638.3M, −13%)
Net income, FY2020
−33% of revenue
▲ +73% (Loss) vs FY2019 (−$661.4M, −14%)
Free cash flow, FY2020
2% of revenue
▲ Now profitable vs FY2019 (−$115.4M, −2%)

How Were They Changing?

Since the FY2020 annual report
Latest quarter: Q1 FY2021, the three months to Oct 31, 2020
Revenue
▼ −46%
vs $1.1B in Q1 FY2020
Net income
▲ +141%
vs $31.7M in Q1 FY2020
Premium Fashion share of revenue vs 55.2% in Q1 FY2020
  • Mar 8, 2021 Reorganization plan took effect and canceled the company’s stock The company’s common stock was canceled without consideration.
  • Dec 23, 2020 Sold assets tied to Ann Taylor, LOFT, Lane Bryant and Lou & Grey The sale price was approximately $540.0 million, subject to customary purchase-price adjustments.

Value Fashion brands exited The earlier report included maurices and dressbarn in Value Fashion; the latest says maurices was sold and Dressbarn wound down, while its listed segments are Premium, Plus and Kids Fashion.

Revenue over time
Premium Fashion Plus Fashion Kids Fashion Value Fashion
$10B$5B$0

Who Did They Compete With?

Competes with Gap, Amazon, Walmart, Macy’s, JCPenney, and Target

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