Last week the U.S. Department of Labor filed a lawsuit against B&H Photo Video, accusing the major New York retailer of discriminatory practices. This lawsuit is said to be the second time in nine years the owners of B&H have run afoul of the government.
Archives for March 2, 2016
Nortek Fiscal 2015 Q4 & Full Year Results are Mixed; AVC is Still Sliding
Nortek, Inc., a diversified manufacturer that through its Core Brands division markets several brands in the custom integration channel, released this week its fiscal 2015 fourth quarter and full year results. Overall, the results were mixed, as the company continues to struggle through a huge consolidation and experience shifts in its sales mix.
But one thing that remains clear is that their AVC segment, the segment that contains the Core Brands businesses, is continuing to struggle with a dramatic sales decline (27.1% decline in the quarter – 20.5% sales decline for the year) and increased losses ($20.8 million loss for the year as compared to a $19.2 million loss for 2014, ).