Business Context and Reporting Period
This Form 6-K is filed by Naked Brand Group Limited (the "Company") for the month of June 2019. The filing primarily serves to disclose the Company's financial results for the fiscal year ended January 31, 2019, and to announce significant changes in executive leadership.
Key Financial Metrics
The filing references a press release (Exhibit 99.1) containing the financial results for the year ended January 31, 2019. However, the text of this Form 6-K does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. Investors must refer to the attached press release for detailed financial data.
Material Changes and Executive Appointments
The most significant material change disclosed is the appointment of David Anderson as Chief Financial Officer (CFO), effective no later than June 20, 2019. Mr. Anderson replaces the current CFO, Howard Herman, who is resigning from all positions with the Company.
- New CFO Background: Mr. Anderson previously served as Head of Finance at Goodman Fielder and held CFO/COO roles at Icebreaker, where he helped quadruple sales during a shift to a direct-to-consumer model.
- Compensation Package:
- Annual Salary: NZ$380,000.
- Annual Cash Bonus: Up to NZ$114,000 based on performance targets.
- Annual Equity Award: Up to NZ$114,000 based on revenue and EBITDA targets.
- Employment Terms: The agreement allows for termination with three months' notice by either party and includes a six-month post-employment non-compete clause.
Outlook, Risks, and Other Events
The Company has prepared an updated investor presentation as of June 14, 2019, which is attached as Exhibit 99.3. The filing does not contain specific forward-looking guidance, risk factors, or commentary on contingencies beyond the standard disclosure of the leadership transition and the reference to the attached financial results.
Investor Verification Checklist
- Review Exhibit 99.1 (Press Release dated June 14, 2019) for specific revenue, profit, and cash flow figures for the year ended January 31, 2019, as these are not listed in the filing text.
- Verify the effective date of David Anderson's appointment as CFO and the resignation of Howard Herman.
- Examine Exhibit 99.3 (Investor Presentation) for updated strategic outlook and operational metrics.
- Confirm the specific performance targets tied to the new CFO's bonus and equity awards, as these are set annually by the board but not detailed in this summary.