Chubbies Segment Sales Growth
First quarter sales of the Chubbies brand grew 43.9%, with the segment EBITDA margin expanding to 26.5% of sales.
Profitability and Cash Flow Improvements
Consolidated bottom line results for February and March exceeded last year, indicating that the profitability focus is beginning to yield results.
Reduction in Net Loss
The first quarter GAAP net loss was significantly reduced to $12.2 million, down over 65% from the fourth quarter.
Cost Management Success
Selling, general and administrative expenses were reduced by $9.4 million compared to last year's first quarter, mainly due to decreased advertising, marketing spend, and lower variable costs.