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DAVIDsTEA Inc (DTEA.OQ)

DTEA.OQ on NASDAQ Stock Exchange Global Market

3.80USD
25 Apr 2018
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Latest Key Developments (Source: Significant Developments)

DAVIDsTEA Says Porchlight Equity Sent Letter To Co Highlighting Concerns With RDI’s Proposal Of Nominees
Tuesday, 3 Apr 2018 

April 3 (Reuters) - DAVIDsTEA Inc ::DAVIDSTEA - ON MARCH 28, 2018, PORCHLIGHT EQUITY MANAGEMENT, EDGEPOINT WEALTH MANAGEMENT AND TDM ASSET MANAGEMENT SENT A LETTER TO CO'S BOARD.DAVIDSTEA SAYS PORCHLIGHT'S LETTER WAS IN RESPONSE TO RDI'S RECENT PROPOSAL OF NOMINEES FOR ELECTION AT DAVIDSTEA'S 2018 ANNUAL MEETING - SEC FILING .DAVIDSTEA - PORCHLIGHT EQUITY MANAGEMENT, EDGEPOINT WEALTH MANAGEMENT, TDM ASSET MANAGEMENT ARE HOLDERS OF ABOUT 37% OF DTEA’S OUTSTANDING SHARES .DAVIDSTEA SAYS PORCHLIGHT, EDGEPOINT, TDM HIGHLIGHTED 'SERIOUS CONCERNS' WITH RDI’S CURRENT APPROACH & PROPOSAL IN A LETTER TO BOARD ‍​.  Full Article

Davidstea Provides Further Update On Strategic Alternatives
Tuesday, 27 Mar 2018 

March 27 (Reuters) - Davidstea Inc ::DAVIDSTEA PROVIDES FURTHER UPDATE ON ITS STRATEGIC ALTERNATIVES.DAVIDSTEA INC - BOARD WILL EVALUATE MERITS OF ANY STRATEGIC PROPOSAL RECEIVED.DAVIDSTEA INC - LOOKS FORWARD TO NOMINATING A SLATE OF DIRECTORS.DAVIDSTEA INC - RECEIVED FEEDBACK FROM OTHER SIGNIFICANT SHAREHOLDERS.DAVIDSTEA INC - WILL EVALUATE MERITS OF ANY DIRECTOR DULY RECOMMENDED BY A SHAREHOLDER OF COMPANY.DAVIDSTEA INC - RESPONDED TO MOST RECENT PUBLIC ANNOUNCEMENT OF RAINY DAY INVESTMENTS LTD.DAVIDSTEA INC - RAINY DAY INVESTMENTS LTD IS A HOLDER OF 46% OF OUTSTANDING SHARES OF DAVIDSTEA.  Full Article

DAVIDsTEA Provides Strategic Alternatives Update
Thursday, 22 Mar 2018 

March 22 (Reuters) - DAVIDstea Inc ::DAVIDSTEA PROVIDES STRATEGIC ALTERNATIVES UPDATE.DAVIDSTEA - ‍WILL REVIEW RDI'S PROPOSED BOARD SLATE AND INTERVIEW PROSPECTIVE CANDIDATES WHO ARE UNKNOWN TO BOARD​.DAVIDSTEA INC - ‍SPECIAL COMMITTEE CONTINUES TO WORK WITH FINANCIAL ADVISOR TO CONSIDER PROPOSALS FOR STRATEGIC ALTERNATIVES​.DAVIDSTEA INC - HAS NOT YET RECEIVED A PROPOSAL FROM RDI​.DAVIDSTEA - PROPOSALS FOR STRATEGIC ALTERNATIVES INCLUDING POTENTIAL RESTRUCTURING, MERGER, ACQUISITION.  Full Article

Rainy Day Investments Submits Slate Of Nominees For Election As Directors Of Davidstea Inc
Monday, 19 Mar 2018 

March 19 (Reuters) - Davidstea Inc ::RAINY DAY INVESTMENTS LTD. SUBMITS SLATE OF NOMINEES FOR ELECTION AS DIRECTORS OF DAVIDSTEA INC..RAINY DAY INVESTMENTS - SUBMITTED SLATE OF EIGHT NOMINEES TO COMMITTEE FOR ELECTION AS BOARD OF DAVIDSTEA AT ANNUAL MEETING OF SHAREHOLDERS.RAINY DAY INVESTMENTS - IF SLATE IS ELECTED, IT IS EXPECTED THAT HERSCHEL SEGAL WILL BE APPOINTED CHAIRMAN OF DAVIDSTEA BOARD.  Full Article

Rainy Day Investments - Intends To Submit Slate Of Nominees To Davidstea' Board
Monday, 12 Mar 2018 

March 12 (Reuters) - Davidstea Inc ::RAINY DAY INVESTMENTS - INTENDS TO SUBMIT SLATE OF NOMINEES TO DAVIDSTEA' BOARD.RAINY DAY INVESTMENTS - ‍IF SLATE OF NOMINEES IS ELECTED, IT IS EXPECTED THAT MR. SEGAL WILL BECOME CHAIRMAN OF BOARD OF DIRECTORS OF DAVIDSTEA​.RAINY DAY INVESTMENTS - ‍HOLDS ABOUT 46% OF DAVIDSTEA ISSUED AND OUTSTANDING SHARES​.RAINY DAY INVESTMENTS - WILL NOT PROCEED AT PRESENT WITH PLANS TO PRESENT A PROPOSAL FOR AN OFFER TO BUY OUT DAVIDSTEA'S MINORITY SHAREHOLDERS​.  Full Article

Davidstea Says Co-Founder Herschel Segal Sent Letter Of Resignation
Thursday, 8 Mar 2018 

March 8 (Reuters) - Davidstea Inc ::DAVIDSTEA SAYS ON MARCH 5, CO-FOUNDER HERSCHEL SEGAL SENT LETTER OF RESIGNATION TO BOARD - SEC FILING.DAVIDSTEA - SEGAL STATED IN RESIGNATION LETTER THAT HE "HAS BEEN DISAPPOINTED WITH COMPANY'S RECENT PERFORMANCE".DAVIDSTEA - ON MARCH 5, LORENZO SALVAGGIO, COO OF RAINY DAY INVESTMENTS, ALSO INFORMED BOARD THAT HE WILL BE STEPPING DOWN.DAVIDSTEA - ON FEB. 20, SEGAL, ON BEHALF OF RDI, INFORMED CO IT HAS DECIDED TO BEGIN EXPLORING LEADING PRIVATIZATION DEAL FOR CO.DAVIDSTEA - RDI INDICATED ITS GOAL IS TO PRESENT PROPOSAL FOR OFFER TO BUY OUT MINORITY HOLDERS OF CO OR FOR ALTERNATIVE DEAL BY END OF APRIL.DAVIDSTEA - RDI ALSO INFORMED IT DOES NOT WANT TO SELL ANY SHARES OF CO AT THIS TIME.DAVIDSTEA - IN RESPONSE TO RDI, BOARD FORMED SPECIAL COMMITTEE OF INDEPENDENT DIRECTORS TO CONSIDER ANY PROPOSAL TO NEGOTIATE ON BEHALF OF CO.DAVIDSTEA SAYS SPECIAL COMMITTEE FORMED BY BOARD HAS ENGAGED WILLIAM BLAIR & COMPANY L.L.C. AS ITS OUTSIDE FINANCIAL ADVISOR - SEC FILING.  Full Article

Edgepoint Investment Reports 11.5 Pct Passive Stake In Davidstea
Tuesday, 9 Jan 2018 

Jan 9 (Reuters) - Edgepoint Investment Group Inc::EDGEPOINT INVESTMENT GROUP REPORTS 11.5 PERCENT PASSIVE STAKE IN DAVIDSTEA AS OF DEC 31‍​ - SEC FILING.  Full Article

DAVIDsTEA Says Board Has Decided To Explore Strategic Alternatives
Thursday, 7 Dec 2017 

Dec 7 (Reuters) - DAVIDsTEA Inc ::ANNOUNCES THIRD QUARTER FISCAL 2017 FINANCIAL RESULTS.Q3 LOSS PER SHARE C$0.25.Q3 SALES C$43 MILLION VERSUS I/B/E/S VIEW C$46.2 MILLION.Q3 SAME STORE SALES FELL 6.8 PERCENT.Q3 EARNINGS PER SHARE VIEW C$-0.15 -- THOMSON REUTERS I/B/E/S.Q3 ADJUSTED LOSS PER SHARE C$0.17.BOARD OF DIRECTORS HAS DECIDED TO EXPLORE STRATEGIC ALTERNATIVES.STRATEGIC ALTERNATIVES BOARD MAY CONSIDER INCLUDE, BUT ARE NOT LIMITED TO, A POTENTIAL FINANCING, REFINANCING, RESTRUCTURING, MERGER.STRATEGIC ALTERNATIVES INCLUDE, BUT ARE NOT LIMITED TO ACQUISITION, JV, DIVESTITURE/ DISPOSITION OF SOME OR ALL OF ASSETS.NO DEFINITIVE SCHEDULE TO COMPLETE ITS REVIEW OF STRATEGIC ALTERNATIVES HAS BEEN ESTABLISHED.COMPANY WILL BE UNDERGOING A PROCESS IN NEAR-TERM TO SELECT FINANCIAL ADVISORS TO ASSIST IN INITIATIVE.IMPAIRMENT CHARGE OF C$2.7 MILLION INCURRED IN Q3 DUE TO UNDERPERFORMING STORES.CAPEX FOR YEAR IS EXPECTED TO BE APPROXIMATELY C$13 TO $15 MILLION.CURRENTLY EXPECTS TO BE FREE CASH FLOW POSITIVE FOR FULL YEAR.COMPANY CURRENTLY EXPECTS TO BE FREE CASH FLOW POSITIVE FOR FULL YEAR.ANNOUNCED THAT HOWARD TAFLER, ITS INTERIM CHIEF FINANCIAL OFFICER, HAS BEEN CONFIRMED AS CHIEF FINANCIAL OFFICER."WE ARE DISAPPOINTED WITH OUR THIRD-QUARTER RESULTS, WHICH CAME IN BELOW ANTICIPATED SALES AND PROFITABILITY".HAVE IMPLEMENTED A COST REDUCTION PROCESS WHICH INCLUDED ELIMINATING SOME POSITIONS TO REFLECT CHANGES IN ORGANIZATIONAL STRUCTURE.  Full Article

DAVIDsTEA reports second quarter 2017 financial results
Thursday, 7 Sep 2017 

Sept 8 (Reuters) - DAVIDsTEA Inc :DAVIDsTEA Inc announces second quarter fiscal 2017 financial results.Q2 same store sales fell 0.9 percent.Q2 sales C$45.7 million versus I/B/E/S view C$44.3 million.DAVIDsTEA Inc - ‍impairment charge of C$2.3 million incurred in Q2 due to underperforming U.S. stores​.DAVIDsTEA Inc sees fy capex for year will be approximately C$15 to $18 million.Qtrly ‍comparable sales decreased by 0.9 pct​.DAVIDsTEA Inc - qtrly fully diluted loss per common share was C$ 0.22.DAVIDsTEA Inc - qtrly adjusted fully diluted loss per common share, a non-IFRS measure, was C$0.16.Q2 earnings per share view C$-0.16 -- Thomson Reuters I/B/E/S.  Full Article

Davidstea Q1 loss per share c$0.01
Wednesday, 7 Jun 2017 

June 7 (Reuters) - Davidstea Inc ::Davidstea inc. Announces first quarter fiscal 2017 financial results.Q1 loss per share C$0.01.Q1 sales C$48.7 million versus I/B/E/S view c$46.1 million.Q1 same store sales fell 5.7 percent.Q1 earnings per share view C$-0.06 -- Thomson Reuters I/B/E/S.Q1 adjusted loss per share C$0.04.Davidstea - chief financial officer, Luis Borgen, has notified company that he will be leaving, effective july 31, 2017.Davidstea - Ddavidstea has begun a search for its next cfo​.Davidstea - ‍expect continued gross profit margin pressure in q2​.Davidstea - ‍will not be issuing quarterly and annual guidance through 2017​.Davidstea - for rest of year, "Canada will be a clear focus" where it anticipates opening ten to fifteen new stores.  Full Article

BRIEF-Rainy Day Investments Says Formally Submitted To Davidstea Names Of Seven Nominees For Election To Co's Board

* RAINY DAY INVESTMENTS SAYS FORMALLY SUBMITTED TO DAVIDSTEA NAMES OF SEVEN NOMINEES FOR ELECTION TO CO'S BOARD AT JUNE 14 ANNUAL MEETING OF SHAREHOLDERS