Brief: Tessco To Sell Certain Retail Assets And Pivots To Focus On Higher-Margin Commercial Segment

Tessco Technologies

29/10/2020 12:30

Oct 29 (Reuters) - TESSCO Technologies Inc  TESS.O :
    * PRESS RELEASE - TESSCO TO SELL CERTAIN RETAIL ASSETS AND
PIVOTS
TO FOCUS ON HIGHER-MARGIN COMMERCIAL SEGMENT
    * TESSCO TECHNOLOGIES INC - SIGNS DEFINITIVE AGREEMENT AND
WILL
EXIT RETAIL BUSINESS
    * TESSCO TECHNOLOGIES INC - SIGNED AGREEMENT THAT PROVIDES
FOR
SALE OF MOST OF COMPANY'S RETAIL INVENTORY, VENTEV BRAND TO
VOICE COMM, LLC
    * TESSCO TECHNOLOGIES INC - TESSCO WILL RETAIN ITS VENTEV
BRAND
FOR USE IN ITS COMMERCIAL BUSINESS PRODUCTS AND OPERATIONS
    * TESSCO TECHNOLOGIES INC - EXPECTS THAT EXIT FROM ITS
RETAIL
OPERATIONS WILL GENERATE APPROXIMATELY $8 MILLION TO $12 MILLION
IN NET CASH FLOW IN FISCAL 2021

Source text for Eikon:  ID:nBw4PpFNla 
Further company coverage:  TESS.O 

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