Wow...Company exiting the commerce segment
JTB
Posts: 186
[Sorry if this has already been discussed.]
The Company also announced that it has decided to exit the commerce segment of its business, comprised of collectible auction and sales businesses, in order to reposition the Company to focus strictly on the grading and authentication businesses and on growth opportunities in the services segment of the collectibles markets.
As a result of this decision, the businesses that comprise its commerce segment -- Bowers and Merena, Superior Sports Auctions, Kingswood Coin Auctions, Odyssey Publications, Lyn Knight Currency Auctions and DHRC, have been classified as held for sale and the related operating results have been classified as discontinued operations; while the Company's grading and authentication businesses -- PCGS, PSA, PSA-DNA and PSE -- comprise its continuing operations.
The Company also announced that it has decided to exit the commerce segment of its business, comprised of collectible auction and sales businesses, in order to reposition the Company to focus strictly on the grading and authentication businesses and on growth opportunities in the services segment of the collectibles markets.
As a result of this decision, the businesses that comprise its commerce segment -- Bowers and Merena, Superior Sports Auctions, Kingswood Coin Auctions, Odyssey Publications, Lyn Knight Currency Auctions and DHRC, have been classified as held for sale and the related operating results have been classified as discontinued operations; while the Company's grading and authentication businesses -- PCGS, PSA, PSA-DNA and PSE -- comprise its continuing operations.
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