DTEA - DAVIDsTEA jumps after Q3 results; appoints Sarah Segal as CEO

DAVIDsTEA (DTEA) reports Q3 sales of $26.23M (-33.6% Y/Y), as the company temporarily closed all its retails stores in Canada and the U.S. amid the pandemic.Q3 e-commerce and wholesale sales rose 145.5% Y/Y to $22.1M.Gross profit of $10.8M vs. $21.35M year-ago.Income from operating activities was $14.4M compared to a loss of $9.3M in the prior year quarter.Cash of $21.9M at quarter-end.Ongoing restructuring activities and court order extended until March 19, 2021.DTEA also announces the appointment of Sarah Segal as CEO, in addition to her position as chief brand officer, and Frank Zitella as president, in addition to his position as COO and CFO. The move is effective, Dec. 16.Herschel Segal will be stepping down as interim CEO and will remain Chairman of the Board of Directors; Frank Zitella will remain CFO until a new person is appointed to the role.Shares +17% premarket.Previously: DAVIDs TEA reports Q3 results (Dec. 15)

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DAVIDsTEA jumps after Q3 results; appoints Sarah Segal as CEO