Anyone have any idea of what their "non-core assets" might be that they are selling off? I thought they only owned about 5 brands and manufacturing and that all seems core? Unless they mean everything not Sukin, but the write-downs will be impressive.
I did some back of the envelope figures on Flora and Fauna using info released in the statement regarding their data breach and making the assumptions that average order size was $80 (as this is the case for a similar business) and i would estimate their operating profit to be a little less than $1m a year, and that is optimistic. BWX paid $30m for that. Imagine being any new CEO coming and having to deal with a stable full of those sort of brands. Was is Dave Fenton that went on this buying spree? I forget now, but ultimately that is the issue. These same directors will pop up again in different areas when we go trough the next boom, you watch. Always happens.
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Anyone have any idea of what their "non-core assets" might be...
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