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- Goodwill and Intangible Impairment (worsened) — The Company recorded another significant impairment charge in fiscal 2026.
- Credit Agreement Amendment (new) — The Company amended its credit agreement to modify financial covenants and obtain additional relief.
- Negative Working Capital (new) — At June 28, 2026, the Company had working capital of negative $17.8 million
Net loss narrowed to $134.8M in fiscal 2026 from $200.0M a year earlier, but the year included a $45.2M goodwill and intangible impairment charge and ended with negative working capital.
Filed September 11, 2026 · Period ending June 28, 2026 · Compared to 10-K Sep 5, 2025 · ~1 min read
Key Changes
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high
Net revenues fell 10.8% to $1.50B, which the company attributes to a focus on marketing effectiveness and profitability being prioritized over near-term revenue growth, offset in part by increased wholesale volume.
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high
The company amended its credit agreement after fiscal year-end to modify financial covenants and provide additional relief and flexibility, and disclosed it is evaluating potential asset sales and capital raising options.
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medium
Adjusted EBITDA declined to $2.9 million from $29.2 million in fiscal 2025.
1 more material change behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.
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Figures/quotes linked to EDGAR · Narrative written by AI · Oct 8, 2026 · How we verify