Share:
Gross profit of $10.8 million
Adjusted EBITDA of $3.3 million
Cash of $21.9 million at quarter-end
Restructuring activities ongoing and Court order extended until March 19, 2021
MONTREAL, Dec. 15, 2020 (GLOBE NEWSWIRE) DAVIDsTEA Inc. (NASDAQ:DTEA) ( DAVIDsTEA or the Company ), a leading tea merchant in North America, announces its third quarter results for the period ended October 31, 2020. DAVIDsTEA also announces the appointment of Sarah Segal as Chief Executive Officer (CEO), in addition to her position as Chief Brand Officer, and Frank Zitella as President, in addition to his position as Chief Operating Officer and Chief Financial Officer (CFO). Herschel Segal will be stepping down as interim CEO and will remain Chairman of the Board of Directors. Frank Zitella will remain CFO pending the appointment of a new CFO. The appointments of Sarah Segal and Frank Zitella will be effective December 16, 2020.