Risk Factors Update Summary
- Closed three distribution centers and reduced employees from 599 to 579.
- Entered into a License Agreement with ABG Vince, including specific territories and product licenses.
- Transition to new CEO could impact operations. Jonathan Schwefel resigned, David Stefko appointed.
- Reduced the number of manufacturers from 40 to 25 and countries from 13 to 10.
- Recorded non-cash asset impairment charges of $1,880 within Impairment of long-lived assets.
- Failure to ensure smooth transition may negatively affect results of operations and financial condition.
- Decreased the percentage of products produced in China from 82% to 79%.
- Completed the sale of intellectual property assets related to Rebecca Taylor, Inc. and Parker Lifestyle, LLC.
- Intellectual property rights related to the Vince brand must be protected by Authentic.
- Sold intellectual property assets related to the business operated under the Vince brand.
- Wind down of Rebecca Taylor business may face risks and uncertainties, impacting operations.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=1579157&owner=exclude
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