Joe’s Jeans Inc. Cancels its Fourth Quarter and Fiscal Year End 2014 Conference Call
12 Fevereiro 2015 - 9:00AM
Business Wire
Joe’s Jeans Inc. (NASDAQ: JOEZ) announced today that it has
cancelled its previously announced earnings conference call to
discuss its results for the fourth quarter and fiscal year ended
November 30, 2014. Joe’s Jeans’ annual filing, including its
financial statements and related MD&A, will be filed with the
SEC on or before February 13, 2015. The original conference call
and release were to take place on February 12, 2015, at 4:30 pm
Eastern Time; however, the postponement of the earnings call will
allow senior management additional time to deal with the debt
refinancing process currently under way. Joe’s Jeans has engaged
Carl Marks Advisory Group to help its board of directors explore
strategic and financing alternatives to resolve the outstanding
events of default with its lenders.
About Joe’s Jeans Inc.
Joe’s Jeans Inc. designs, produces and sells apparel and
apparel-related products to the retail and premium markets under
the Joe's® and Hudson® brands and related trademarks. More
information is available at the company website at
www.joesjeans.com.
This release contains forward-looking statements within the
meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995, as amended. The matters discussed in
this document involved estimates, projections, goals, forecasts,
assumptions, risks and uncertainties that could cause actual
results or outcomes to differ materially from those expressed in
the forward-looking statements. All statements in this news release
that are not purely historical facts are forward-looking
statements, including statements containing the words “intend,”
“believe,” “estimate, “project,” “expect” or similar expressions.
Any forward-looking statement inherently involves risks and
uncertainties that could cause actual results to differ materially
from the forward-looking statements. Factors that would cause or
contribute to such differences include, but are not limited to: the
risk that Joe’s Jeans Inc. (the “Company”) will be unsuccessful in
regaining compliance with Nasdaq Listing Rules, the risk that the
Company will be unsuccessful in remedying its defaults under its
term loan and revolving credit agreement and other subordinated
debt, the risk that changes in general economic conditions,
consumer confidence, or consumer spending patterns will have a
negative impact on the Company’s financial performance or
strategies; the highly competitive nature of the Company’s business
in the United States and internationally and its dependence on
consumer spending patterns, which are influenced by numerous other
factors; the Company’s ability to respond to the business
environment and fashion trends; continued acceptance of the
Company’s brands in the marketplace; successful implementation of
any growth or strategic plans; effective inventory management; the
Company's ability to continue to have access on favorable terms to
sufficient sources of liquidity necessary to fund ongoing cash
requirements of its operations, which access may be adversely
impacted by a number of factors, including the reduced availability
of credit generally and the substantial tightening of the credit
markets, including lending by financial institutions, who are
sources of credit for the Company, the recent increase in the cost
of capital, the level of the Company's cash flows, which will be
impacted by the level of consumer spending and retailer and
consumer acceptance of its products; the ability to generate
positive cash flow from operations; competitive factors, including
the possibility of major customers sourcing product overseas in
competition with our products; the risk that acts or omissions by
the company’s third party vendors could have a negative impact on
the company’s reputation; a possible oversupply of denim in the
marketplace; the risk that the Company will be unsuccessful in
gauging fashion trends and changing customer preferences; the
ability of the Company to be successful in its license product
categories and its licensing strategy, and other risks. The Company
discusses certain of these factors more fully in its additional
filings with the SEC, including its last annual report on Form 10-K
and quarterly report on Form 10-Q filed with the SEC, and this
release should be read in conjunction with those reports, together
with all of the Company’s other filings, including current reports
on Form 8-K, made with the SEC through the date of this release.
The Company urges you to consider all of these risks, uncertainties
and other factors carefully in evaluating the forward-looking
statements contained in this release.
Any forward-looking statement is based on information current as
of the date of this document and speaks only as of the date on
which such statement is made, and the Company undertakes no
obligation to update these statements to reflect events or
circumstances after the date on which such statement is made.
Readers are cautioned not to place undue reliance on
forward-looking statements.
Joe’s Jeans Inc.Hamish Sandhu, 323-837-3700 x304
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