As many of you know, we had a big fall in our numbers in the last two months.
This was caused by some pretty serious weather events in North America, but we also saw some great jersey sales, which led to some great growth in our overall revenue.
As a result, our financial position has improved significantly.
This year, our revenue is up by about $100 million compared to the previous year, and we have an adjusted EBITDA of about $2.3 billion.
The good news is that the increase in revenue is mainly due to our recent growth in the apparel category, and this is the part that really matters.
In order to keep our company healthy, we need to make sure that our brand continues to grow.
For that reason, we have decided to focus on the apparel and accessories category in 2017.
That is, we are now focusing on what is actually a very profitable segment, which is the clothing and accessories business.
As the year comes to an end, we will be focusing on the other segments in our company.
We have already made a number of significant changes to our operations, and there is much more we can do to stay on track.
However, we believe that our business model can work well for the long-term.
That’s why we have been expanding our team and expanding our sales team, and why we are continuing to invest in new products, which will hopefully lead to a sustainable increase in our revenue and profits.
As we get closer to the end of the year, we plan to share some more details about what we are doing to strengthen our business and better serve our customers in the coming months.
To that end, I’d like to introduce you to our team, including our new chief financial officer, which you will find in the next few days.
My name is Jason Sacks, and I am your chief financial and strategic officer.
Thank you for joining me today, and thank you for your continued support.
Please enjoy the video below, as we take a closer look at our company in more detail.
What does this mean for our customers?
Our new chief executive officer Jason Sanks has come on board as a senior director, meaning that he is responsible for the operations and strategic direction of our business.
He is a well-respected leader with over a decade of experience managing our company and has a great track record of successful performance.
We are looking forward to having him on board, as he brings a wealth of knowledge and experience to the team.
We will have a much more detailed announcement on our financials later this week.
In the meantime, I would like to take some time to share with you what has been happening behind the scenes over the last year.
We want to make it clear that we are not done with the transition.
We remain committed to our core mission of offering customers the best value in the world, and will continue to invest heavily in our core products and services to drive sales and profitability.
This is why we made significant investments in our brand and continued to improve our products and service offerings in order to remain competitive in the marketplace.
We also continue to improve and grow our products through new initiatives such as new apparel designs and innovative technology to offer more choices to our customers.
We’ve also continued to grow our marketing, which we now call our Brand Marketing, and have launched new products that focus on new and emerging markets and have a strong presence in international markets.
Finally, we’re excited to announce that our sales have been growing.
We’re thrilled to see our customers continuing to support us by returning their jerseys to us for free or at a reduced price.
Our goal is to have all of our customers return their jerseys in time for the New Jersey and New England home games of the 2019-20 season, and as a result we are working hard to achieve this goal.
As always, I’ll be in touch with you as soon as I can, and again, I thank you again for your support.
Thanks again, Jason.
This press release contains forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from our expectations, and those risks and unknowns are identified in the company’s filings with the Securities and Exchange Commission.
Forward-looking information is based on management’s current expectations.
The forward-sounding statements included in this news release are based on certain assumptions and assumptions that management believes are reasonable, but may prove to be incorrect.
We caution that actual results could differ materially.
If actual results do differ materially, you should not place undue reliance on such statements.
The company disclaims any intention or obligation to update or revise forward-going forward-thinking statements, whether as a consequence of new information, future events, or otherwise.
This news release contains statements regarding future events and future financial performance that are not historical facts.
Such forward-moving information is subject to various risks and factors, including, without