CEO Commentary –
“We appreciate our investors and other stakeholders’ patience with us over these past several weeks, and I personally apologize for this delay. We are in the final stages of completing five financing transactions that we intend to close simultaneously. When completed, these transactions will materially decrease our outstanding debt and improve our credit profile as a Company. We expect these transactions to close on Monday or Tuesday as we work through the weekend to finalize the complexities one might expect with simultaneous closings of multiple transactions.
As we discussed during our Capital Markets Day in
Webcast and Call Information
The Company will now hold a conference call and webcast on
- Date:
Wednesday, April 12, 2023 - Time:
8:30 a.m. Eastern time (7:30 a.m. Central time ) U.S. dial-in number: 1-877-407-9039- International dial-in number: 1-201-689-8470
- Conference ID: 1373 6484
- Webcast link:
iMedia Brands 4Q earnings webcast
The conference call and webcast will be broadcast live and available for replay via the investor relations section of the
The replay of the conference call will be available after
- Toll-free replay number: 1-844-512-2921
- International replay number: 1-412-317-6671
- Replay ID: 1373 6484
About
iMedia’s common stock is traded on the
Investors:
kcooper@imediabrands.com
(952) 943-6119
Media:
press@imediabrands.com
(952) 943-6125
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
This document contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements contained herein that are not statements of historical fact, including statements regarding the anticipated closing of the sale-leaseback transaction, the value to be received by the Company in connection with the sale-leaseback transaction, the timing to close on the sale-leaseback transaction and the Company's use of proceeds related thereto, the Company's new DISH Network agreement, the Company's expected performance for the remainder of 2022, and the Company's belief about the state of consumer demand are forward-looking. The Company often use words such as anticipates, believes, estimates, expects, intends, seeks, predicts, hopes, should, plans, will, or the negative of these terms and similar expressions to identify forward-looking statements, although not all forward looking-statements contain these words. These statements are based on management's current expectations and accordingly are subject to uncertainty and changes in circumstances. Actual results may vary materially from the expectations contained herein due to various important factors, including (but not limited to): variability in consumer preferences, shopping behaviors, spending and debt levels; the general economic and credit environment, including COVID-19; interest rates; seasonal variations in consumer purchasing activities; the ability to achieve the most effective product category mixes to maximize sales and margin objectives; competitive pressures on sales and sales promotions; pricing and gross sales margins; the level of cable and satellite distribution for the Company’s programming and the associated fees or estimated cost savings from contract renegotiations; the Company’s ability to establish and maintain acceptable commercial terms with Fourth-party vendors and other Fourth parties with whom the Company has contractual relationships, and to successfully manage key vendor and shipping relationships and develop key partnerships and proprietary and exclusive brands; the ability to manage operating expenses successfully and the Company’s working capital levels; the ability to remain compliant with the Company’s credit facilities covenants; customer acceptance of the Company’s branding strategy and its repositioning as a video commerce Company; the ability to respond to changes in consumer shopping patterns and preferences, and changes in technology and consumer viewing patterns; changes to the Company’s management and information systems infrastructure; challenges to the Company’s data and information security; changes in governmental or regulatory requirements; including without limitation, regulations of the
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