Heelys announces a collaboration with Reebok to release a new collection of sneakers featuring Heelys’ signature wheel technology. This marks the first partnership of its kind for Heelys, merging athletic and lifestyle footwear. The collection includes ten styles available in various sizes for kids and adults, priced between $55-$60. Launched ahead of the holiday season, the collaboration is positioned as a perfect gift option. Senior VP Arta Isovski expressed excitement about merging both brands, which resonates with consumers who grew up with them.
Sequential Brands Group (SQBG) reported second-quarter results for 2020, showing total revenue of $22.6 million, down from $26.4 million in the prior year. A GAAP loss from continuing operations was $(2.9) million or $(1.78) per diluted share, improving from $(3.3) million or $(2.03) per diluted share in the same quarter of 2019. The company faced a net loss of $(88.2) million year-to-date, largely due to $85.6 million in impairment charges related to COVID-19 impacts. The company ended the quarter with $16.8 million in cash but anticipates challenges in meeting loan covenants due to ongoing uncertainties.
Sequential Brands Group (NASDAQ: SQBG) is transitioning its 2020 Annual Meeting of Stockholders to a virtual format due to COVID-19 concerns. The meeting will take place on June 5, 2020, at 10:00 a.m. Eastern Time. Registered stockholders as of April 9, 2020, can participate by accessing a dedicated meeting center, while beneficial owners must register in advance to vote or ask questions. The company emphasizes the importance of casting votes ahead of the meeting. For more details, visit the company’s website.
Sequential Brands Group (SQBG) will release its Q1 financial results on May 15, 2020, before market opening. Management will host a conference call at 8:30 AM ET to discuss the outcomes. This event may provide insights into the Company's performance in the fashion and active consumer brand sectors, as they focus on brand management and licensing. Investors can access the call by dialing (877) 407-9208 or visiting the investor relations page.