Retail Ventures Inc. (RVI, Financial) filed Quarterly Report for the period ended 2008-11-01.
Retail Ventures Inc. headquartered in Columbus Ohio is a leading off-price retailer with stores in the Midwest Northeast and Southeast. Retail Ventures Inc. has a market cap of $48.19 million; its shares were traded at around $1.5 with and P/S ratio of 0.03.
Net Sales. Net sales for the three months ended November 1, 2008 increased $14.1 million, or 2.9%, to $503.5 million compared to $489.4 million for the three months ended November 3, 2007.
Read the The complete Report
More on RVI:
Gurus buys and sells of RVI
10-year financial history of RVI.
Insider buys/sells of RVI.
Retail Ventures Inc. headquartered in Columbus Ohio is a leading off-price retailer with stores in the Midwest Northeast and Southeast. Retail Ventures Inc. has a market cap of $48.19 million; its shares were traded at around $1.5 with and P/S ratio of 0.03.
Highlight of Business Operations:
On January 23, 2008, Retail Ventures disposed of an 81% ownership interest in its Value City Department Stores (Value City) business to VCHI Acquisition Co., a newly formed entity owned by VCDS Acquisition Holdings, LLC, Emerald Capital Management LLC and Crystal Value, LLC. Retail Ventures received no net cash proceeds from the sale, paid a fee of $500,000 to the purchaser, and recognized an after-tax loss on the transaction of $81.1 million, including a reduction of the loss of $8.9 million recorded in the nine months ended November 1, 2008. As part of the transaction, Retail Ventures issued warrants to VCHI Acquisition Co. to purchase 150,000 RVI Common Shares, at an exercise price of $10.00 per share, and exercisable within 18 months of January 23, 2008. To facilitate the change in ownership and operation of Value City Department Stores, Retail Ventures agreed to provide or arrange for the provision of certain transition services principally related to information technology, finance and human resources to Value City for a period of one year unless otherwise extended by both parties. On October 26, 2008, Value City filed for bankruptcy protection and announced that it would close its remaining stores. We have negotiated an agreement with Value City to continue to provide services post bankruptcy filing, including risk management, financial services, benefits administration, payroll and information technology services, in exchange for a weekly payment.Net Sales. Net sales for the three months ended November 1, 2008 increased $14.1 million, or 2.9%, to $503.5 million compared to $489.4 million for the three months ended November 3, 2007.
Read the The complete Report
More on RVI:
Gurus buys and sells of RVI
10-year financial history of RVI.
Insider buys/sells of RVI.
