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EDEN PRAIRIE, Minn.–(BUSINESS WIRE)–

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Bluestem Group Inc. (“Bluestem Group” or the “Company”)(BGRP) today appear unaudited circumscribed banking after-effects that accommodate its wholly-owned subsidiary, Bluestem Brands, Inc. and its subsidiaries (“Bluestem Brands”), for the 13 weeks concluded May 4, 2018 and May 5, 2017. Bluestem is a multi-brand, direct-to-consumer online banker of a ample another of name-brand and clandestine characterization accepted commodity confined the boomer and chief demographic, about advised age 50 and over, and low- to middle-income consumers above all age demographics.

First Division Budgetary 2018 Bluestem Brands Highlights

Lisa Gavales, Interim CEO, stated, “We fabricated added advance on our turnaround activity during the aboriginal quarter, and are admiring with the connected stabilization we accept accomplished in assertive areas of the business. For the division and excluding the appulse of the accounting change, we delivered able gross allowance and net accession allowance improvements. In addition, we connected to abate the amount of accomplishing business and collection bigger after-effects in our Northstar portfolio, including bigger achievement in the acclaim portfolio. Added specifically, we saw an articulation point with a 60 base point abatement in the portfolio crime amount which bodes able-bodied for a bargain merchant fee for the of budgetary 2018. Furthermore, we accept articular and began demography activity on several initiatives that we accept will advance our turnaround accomplishment of Orchard portfolio. As we attending ahead, we will assignment to body on the advance we accept fabricated appropriately far in the business, as we abide focused on added convalescent our acclaim portfolio, alive added amount reductions above the business, and developing a belvedere for our Orchard portfolio that we accept will drive acceptable abiding sales and profitability. Overall, we accept that we are on the appropriate clue to accomplish abiding advantage for the Company.”

First Division Budgetary 2018 Bluestem Group Circumscribed Statistics

First Division Budgetary 2018 Bluestem Brands Stand-Alone Statistics

*Includes a $13.3 actor appulse from the dispatch of assertive announcement costs as a aftereffect of the acceptance of Topic 606 in Q1 2018.

**Excludes net sales for exited businesses (PayCheck Direct, Draper’s & Damon’s retail food and LinenSource). Year-over-year changes are estimated application net sales for the 13 weeks concluded May 4, 2018 and May 5, 2017, respectively.

All banking advice included in this absolution is unaudited. Advice for Bluestem Group is presented on a circumscribed basis. Circumscribed advice for Bluestem Group’s wholly-owned subsidiary, Bluestem Brands, Inc., is additionally presented on a stand-alone basis.

Adjusted EBITDA is authentic in the accompanying banking advice of Bluestem Group and Bluestem Brands. Please see “Bluestem Group Inc. and Bluestem Brands, Inc. Banking Information-Overview and Base of Presentation” beneath and accompanying disclosures for a added abundant annual of the above matters, reconciliations to after-effects appear beneath GAAP and added important advice for investors to consider.

Earnings Teleconference Information

The Aggregation will host a appointment alarm at 10:00 AM ET on Wednesday, June 20, 2018. The appointment alarm can be accessed at (800) 347-6311 or (323) 794-2094 (International), appointment ID # 6005636 and advertisement accompanying at http://www.bluestem.com/investor-relations. Afterward achievement of the call, a recorded epitomize of the webcast will be accessible on Bluestem’s website. To accept to the blast replay, alarm toll-free (844) 512-2921 or (412) 317-6671 (International), epitomize pin # 6005636. The blast epitomize will be accessible at 1:00 PM ET June 20, 2018. Added broker advice can be accessed at http://www.bluestem.com/investor-relations

About Bluestem Group

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Bluestem Group Inc., a captivation aggregation headquartered in Eden Prairie, MN, operates assorted absolute to chump retail brands through its accessory Bluestem Brands. The Northstar Portfolio includes Fingerhut and Gettington, both of which are civic multi-channel retail brands alms a ample another of name cast and clandestine characterization commodity confined low- to middle-income consumers by alms assorted acquittal affairs through revolving acclaim curve or chapter loans offered by WebBank. The Orchard Portfolio consists of multi-channel brands including Appleseed’s, Bedford Fair, Blair, Draper’s & Damon’s, Gold Violin, Haband, Norm Thompson, Old Pueblo Traders, Sahalie, Tog Shop and WinterSilks. These brands action apparel, accessories, and home articles for the boomer and chief demographic, about advised age 50 and over and accommodate barter with the adeptness to access acclaim through a third-party clandestine characterization acclaim card. For added advice appointment the Bluestem Group website at www.bluestem.com.

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Forward Looking Statements

This absolution contains statements that are “forward-looking statements”. Advanced statements chronicle to expectations, beliefs, projections, approaching affairs and strategies, advancing contest or trends and agnate expressions apropos affairs that are not absolute facts. All statements independent herein that are not acutely absolute in attributes are forward-looking. In some cases, you can analyze these statements by use of advanced words such as “may,” “will,” “should,” “anticipate,” “estimate,” “expect,” “plan,” “believe,” “predict,” “potential,” “project,” “intend,” “could” or agnate expressions. In particular, statements apropos Bluestem Group’s plans, strategies, affairs and expectations apropos its business are advanced statements. You should be acquainted that these statements and any added advanced statements in this certificate alone reflect Bluestem Group’s beliefs, assumptions and expectations and are not guarantees of performance. These statements absorb risks, uncertainties and assumptions. Abounding of these risks, uncertainties and assumptions are above Bluestem Group’s ascendancy and may annual absolute after-effects and achievement to alter materially from Bluestem Group’s expectations. Advanced statements are based on Bluestem Group’s beliefs, assumptions and expectations of its approaching achievement and actions, demography into annual all advice currently accessible to Bluestem Group. These beliefs, assumptions and expectations can change as a aftereffect of abounding accessible contest or factors, not all of which are accepted to Bluestem Group or are aural its control. If a change occurs, Bluestem Group’s plans, business, banking condition, and clamminess may alter materially from those bidding in its advanced statements. Important factors that could annual the absolute after-effects to be materially altered from Bluestem Group’s expectations accommodate the risks and uncertainties set alternating in “Risk Factors” in Bluestem Group’s Address as of and for the budgetary years concluded February 2, 2018 and February 3, 2017.

Accordingly, you should not abode disproportionate assurance on the advanced statements independent in this release. These advanced statements are fabricated alone as of the date of this release. Bluestem Group undertakes no obligation to amend or alter about any advanced statements, whether as a aftereffect of new information, approaching contest or otherwise.

BLUESTEM GROUP INC. BLUESTEM BRANDS, INC. FINANCIAL INFORMATION 13-weeks concluded May 4, 2018 and May 5, 2017

Overview and Base of Presentation

As acclimated in this release:

The accompanying banking advice for Bluestem Group Inc. is presented on a circumscribed basis, including Bluestem Brands, Inc. and its circumscribed subsidiaries. The accompanying banking advice for Bluestem Group’s wholly-owned subsidiary, Bluestem, is additionally presented on a stand-alone basis. All banking advice included in this absolution is unaudited.

The business after-effects for Q1 2018 reflect the acceptance of the new acquirement acceptance accounting accepted (Topic 606). The primary appulse of the acceptance of Topic 606 was to advance the timing of acquainted absolute mail archive announcement costs, which were capitalized and amortized over their accepted aeon of approaching annual above-mentioned to acceptance and are now accustomed on the estimated date of aboriginal commitment to recipients.

The Aggregation reviews and presents the circumscribed business after-effects based on the authoritative anatomy administration uses to appraise achievement and accomplish decisions on allocating assets and assessing performance.

Financial Information

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To supplement the absolute banking abstracts acquired from Bluestem Group’s and Bluestem’s circumscribed banking statements, which are able in accordance with U.S. About Accepted Accounting Attempt (“GAAP”), this absolution uses adapted EBITDA as a non-GAAP achievement measure. In addition, Bluestem’s stand-alone circumscribed banking statements includes accession margin, adapted accepted and authoritative expenses, adapted chargeless banknote flow, affairs acceding adapted EBITDA, lender adapted EBITDA, advantage arrangement net debt, affairs acceding advantage ratio, lender advantage ratio, alive capital, adapted alive capital, affairs acceding net clamminess and lender net clamminess as non-GAAP achievement measures. These measures are not in accordance with, or an another to, measures able in accordance with GAAP. Please see the accompanying address on Bluestem Group’s and Bluestem’s after-effects for added important advice apropos these measures.

Bluestem Group Inc.Results for the 13-Weeks Concluded May 4, 2018

BLUESTEM GROUP INC.

Abridged Circumscribed Statements of Absolute Accident

(unaudited – in thousands, except shares and per allotment amounts)

 

 

 

 

 

 

 

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BLUESTEM GROUP INC.

Abridged Circumscribed Antithesis Sheets

(unaudited – in thousands)

BLUESTEM GROUP INC.

Abridged Circumscribed Statements of Banknote Flows

(unaudited – in thousands)

BLUESTEM GROUP INC. Non-GAAP Banking Admeasurement (unaudited – in thousands)

To supplement the circumscribed banking statements of Bluestem Group Inc. and its subsidiaries, which are presented in accordance with GAAP, we use the afterward admeasurement that is not in accordance with, or an another to, measures able in accordance with GAAP (“non-GAAP measure”):

Adjusted EBITDA, as presented, represents net accident attributable to Bluestem Group Inc. afore assets tax expense, absorption expense, acquittal and abrasion expense, accident on impairment, accident on application right, stock-based advantage expense, restructuring costs, Orchard Portfolio analysis and accession analysis and other.

We accommodate this admeasurement because we accept it is advantageous to investors in evaluating our operating achievement compared to added companies in our industry. As a non-GAAP measure, it has limitations in that it does not reflect all of the amounts associated with Bluestem Group Inc.’s after-effects of operations as bent in accordance with GAAP and is not based on any absolute set of accounting rules or principles. This non-GAAP admeasurement should be advised forth with the GAAP banking presentation and should not be advised in a or as a acting for after-effects appear in accordance with GAAP. In addition, our adding of Adapted EBITDA may not be commensurable to the adding of such admeasurement by added companies.

The afterward table reconciles Adapted EBITDA from the aing GAAP achievement measure, which is net loss:

BLUESTEM GROUP INC. Non-GAAP Banking Admeasurement (unaudited – in thousands)

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Impact of Acceptance of Topic 606

The Aggregation adopted Topic 606 which pertains to acquirement recognition, on February 3, 2018.

The acceptance of Topic 606 had a actual appulse on the timing of announcement amount acceptance accompanying to absolute acknowledgment advertising. Beneath Topic 606, the Aggregation now recognizes the amount associated with its catalogs on the estimated date of aboriginal commitment to recipients. Above-mentioned to acceptance of Topic 606, these costs were capitalized and amortized over their accepted aeon of approaching benefit. In addition, the estimated accessible amount of approaching artefact allotment was reclassified from accepted liabilities to accepted assets.

The afterward tables present the appulse the acceptance of Topic 606 had on the Company’s abridged circumscribed annual of operations and abridged circumscribed antithesis sheet:

% of net

sales

Topic 606

Adjustments

Balances

after

Acceptance of

Topic 606

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% of net

sales

Acquittal and abrasion notincluded in amount of appurtenances awash

Balances After

Acceptance of Topic 606

Bluestem Brands, Inc. After-effects for the 13-Weeks Concluded May 4, 2018

BLUESTEM BRANDS, INC.

Abridged Circumscribed Statements of Accident and Selected Operating Abstracts

(unaudited – in thousands)

BLUESTEM BRANDS, INC.

Abridged Circumscribed Antithesis Sheets

(unaudited – in thousands)

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BLUESTEM BRANDS, INC.

Abridged Circumscribed Statements of Banknote Flows

(unaudited – in thousands)

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