Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: June 30, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 0-19254 LIFETIME BRANDS, INC. (Exact name of registrant as specified in its charter) Delaware 11-2682486 (State o ...

Lifetime Brands (LCUT) Q2 2025 Earnings Call August 07, 2025 11:00 AM ET Speaker0I would now like to introduce your host for today's conference, Jamie Kirchen. Mr.Kirchen, you may begin.Speaker1Good morning, and thank you for joining Lifetime Brands' second quarter twenty twenty five earnings call. With us today from management are Rob Kay, Chief Executive Officer and Larry Winoker, Chief Financial Officer. Before we begin the call, I'd like to remind you that our remarks this morning may contain forward lo ...

Lifetime Brands (LCUT) came out with a quarterly loss of $0.5 per share versus the Zacks Consensus Estimate of a loss of $0.17. This compares to a loss of $0.03 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -194.12%. A quarter ago, it was expected that this kitchen products company would post a loss of $0.14 per share when it actually produced a loss of $0.25, delivering a surprise of -78.57%.Over the last four quarters, the ...

Exhibit 99.1 Lifetime Brands, Inc. Reports Second Quarter 2025 Financial Results Sales of $131.9 million TTM Adjusted EBITDA of $50.7 million Company Maintains Strong Liquidity Position GARDEN CITY, NY, August 7, 2025 – Lifetime Brands, Inc. (NasdaqGS: LCUT), a leading global designer, developer and marketer of a broad range of branded consumer products used in the home, today reported its financial results for the quarter ended June 30, 2025. Rob Kay, Lifetime's Chief Executive Officer, commented, "Despite ...

Group 1 - Lifetime Brands, Inc. held its 2025 Annual Meeting of Stockholders on June 18, 2025, where stockholders elected a new board of directors [1] - The elected directors include Jeffrey Siegel as Chairman, Robert B. Kay as CEO, and other notable members from various industries [1] - Stockholders ratified Ernst & Young LLP as the independent registered public accounting firm for the year ending December 31, 2025 [1] Group 2 - Stockholders approved the 2024 compensation for the Company's named executive officers on a non-binding advisory basis [2] - The Board of Directors declared a quarterly cash dividend of $0.0425 per share, payable on August 15, 2025, to stockholders of record by August 1, 2025 [2] Group 3 - Lifetime Brands is a leading global designer, developer, and marketer of a wide range of branded consumer products for the home, including kitchenware, tableware, and home solutions [3] - The Company markets products under well-known brands such as Farberware®, KitchenAid®, and Mikasa®, among others [3]

Summary of Lifetime Brands (LCUT) FY Conference - June 10, 2025 Company Overview - **Company Name**: Lifetime Brands - **Industry**: Consumer Durables - **Founded**: 1945 as a cutlery company - **Market Share**: Over 20% in the cutlery category, primarily through Farberware brands [3][4] - **Average Ticket Price**: $10 and under [2] Core Business Insights - **Product Offering**: Good, better, best strategy across various channels [2] - **Recent Growth**: Merged with Filament Brands in 2018, focusing on growth and profitability [4] - **Key Categories**: Tabletop tools and kitchen tools [4] Consumer Market Analysis - **Current Consumer Health**: Visibility is dim; consumer spending has slowed down due to trade wars and economic uncertainty [8][9] - **Online Shopping Trend**: Increased online purchases driven by consumer wariness [9] - **Retail Environment**: Competitive landscape shows bifurcation; smaller companies are struggling, presenting M&A opportunities [10] Competitive Landscape - **Operational Challenges**: Competitors are facing issues with manufacturing and supply chain adjustments, particularly moving out of China [10] - **Channel Performance**: Strong performance in club channels (e.g., Costco) and mass channels (e.g., Walmart) [11] Inventory and Tariff Management - **Inventory Destocking**: Retailers are adjusting inventory levels due to economic conditions and tariffs [13][15] - **Tariff Impact**: Company has shifted manufacturing out of China to mitigate tariff impacts, with plans to have most products manufactured outside China by the end of the year [19][20] Pricing Strategy - **Price Increases**: Implemented across the customer base; focus on maintaining margin dollars rather than margin percentage [21][22] - **Elasticity of Demand**: Historical data suggests that certain products remain in demand even during economic downturns [23][24] Financial Performance - **Q1 Results**: Softness in sales due to customer and product mix affecting margins; not significantly impacted by tariffs [25][26] International Business and Project Concord - **International Challenges**: UK operations were losing money; restructuring efforts are underway to achieve breakeven by 2025 [27][30] - **Project Concord**: Aimed at integrating UK operations with US business to streamline costs [30][34] Growth Initiatives - **Defensive Posture**: Current focus is on defensive strategies due to macroeconomic uncertainties, but growth initiatives are still in place [31] - **New Product Launches**: Successful launch of the Dolly product line, with plans for expansion [31][32] Distribution Center Relocation - **New Distribution Center**: Moving from New Jersey to Maryland to avoid cost increases; receiving $13 million in subsidies [36][38] Future Guidance and M&A Strategy - **Guidance for FY '25**: Will be provided once there is clarity in trade and tariff situations [39] - **M&A Criteria**: Focus on margin expansion and new product categories; looking for transformative opportunities [40][41]

Core Insights - Lifetime Brands, Inc. is participating in the Oppenheimer 25th Annual Consumer Growth and E-Commerce Conference from June 9-11, 2025 [1] - The CEO Robert Kay and CFO Laurence Winoker will host a fireside chat on June 10, 2025, at 1:30pm ET [2] - Management will be available for one-on-one investor meetings during the conference [3] Company Overview - Lifetime Brands is a leading global designer, developer, and marketer of a wide range of branded consumer products for the home [4] - The company markets products under well-known kitchenware brands such as Farberware, KitchenAid, and Sabatier, as well as tableware and giftware brands like Mikasa and Pfaltzgraff [4] - Lifetime Brands also provides exclusive private label products to major retailers worldwide [4]

Part I [Financial Information](index=5&type=section&id=Part%20I.%20Financial%20Information) This section provides a comprehensive overview of the company's financial performance, condition, and cash flows [Financial Statements](index=5&type=section&id=Item%201.%20Financial%20Statements) The company reported an improved net loss of $4.2 million in Q1 2025, with total assets decreasing and operating cash flow increasing [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets decreased to $594.6 million as of March 31, 2025, primarily due to reduced accounts receivable Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | March 31, 2025 (unaudited) | December 31, 2024 | | :--- | :--- | :--- | | **Total Current Assets** | $340,605 | $373,568 | | **Total Assets** | $594,593 | $634,310 | | **Total Current Liabilities** | $124,183 | $151,743 | | **Total Liabilities** | $368,917 | $404,387 | | **Total Stockholders' Equity** | $225,676 | $229,923 | [Condensed Consolidated Statements of Operations](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Q1 2025 net loss improved to $4.2 million from $6.3 million in Q1 2024, despite slightly lower net sales Q1 2025 vs. Q1 2024 Statement of Operations (in thousands, except per share data) | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net sales | $140,085 | $142,242 | | Gross margin | $50,637 | $57,547 | | Income from operations | $1,099 | $1,830 | | Net Loss | $(4,201) | $(6,260) | | Diluted Loss per Share | $(0.19) | $(0.29) | [Condensed Consolidated Statements of Cash Flows](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Operating cash flow increased to $16.7 million in Q1 2025, leading to a $7.4 million increase in cash and equivalents Q1 2025 vs. Q1 2024 Cash Flow Summary (in thousands) | Cash Flow Activity | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net Cash Provided by Operating Activities | $16,711 | $10,513 | | Net Cash Used in Investing Activities | $(1,573) | $(600) | | Net Cash Used in Financing Activities | $(7,767) | $(21,399) | | **Increase (Decrease) in Cash** | **$7,446** | **$(11,550)** | [Notes to Condensed Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Notes detail accounting policies, revenue disaggregation, $63.2 million ABL availability, and a $6.4 million legal settlement gain Net Sales by Segment (in thousands) | Segment | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | U.S. segment | $128,510 | $130,480 | | International segment | $11,575 | $11,762 | | **Total net sales** | **$140,085** | **$142,242** | - The company recognized a net legal settlement gain of **$6.4 million** in Q1 2025, which consisted of a **$7.0 million** settlement less **$0.6 million** in legal fees[133](index=133&type=chunk) - As of March 31, 2025, the company was in compliance with its debt covenants, with ABL Agreement availability limited to **$63.2 million** by the Term Loan's maximum Total Net Leverage Ratio covenant, despite a total availability of **$99.7 million**[79](index=79&type=chunk)[86](index=86&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=31&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) MD&A discusses 1.5% net sales decrease, gross margin contraction, improved net loss, new tariffs, and distribution center relocation [Recent Developments](index=32&type=section&id=Recent%20Developments) New 145% tariffs on Chinese imports and east coast distribution facility relocation are key recent developments - As of April 9, 2025, the U.S. imposed an aggregate **145%** tariff on imports from China, which is expected to materially impact the company's supply chain and cost structure[153](index=153&type=chunk) - The company is relocating its east coast distribution facility to Hagerstown, Maryland, expecting to incur up to **$7.0 million** in exit costs, **$10.0 million** in capital expenditures, and **$7.0 million** in one-time relocation costs, offset by **$13.1 million** in tax abatements and incentives[154](index=154&type=chunk)[155](index=155&type=chunk)[156](index=156&type=chunk) [Results of Operations](index=33&type=section&id=Results%20of%20Operations) Q1 2025 net sales decreased 1.5%, gross margin contracted, and SG&A fell due to a $6.4 million legal settlement gain Key Operational Metrics (% of Net Sales) | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Gross margin | 36.1% | 40.5% | | Distribution expenses | 12.9% | 11.4% | | SG&A expenses | 22.4% | 27.8% | | Income from operations | 0.8% | 1.3% | - U.S. segment sales decreased by **1.5%**, driven by a **4.8%** decline in the Kitchenware category, partially offset by a **7.0%** increase in the Tableware category[164](index=164&type=chunk)[165](index=165&type=chunk)[166](index=166&type=chunk) - Unallocated corporate income was **$2.2 million** in Q1 2025, compared to an expense of **$4.5 million** in Q1 2024, primarily driven by a **$6.4 million** net legal settlement gain[178](index=178&type=chunk) [Liquidity and Capital Resources](index=36&type=section&id=Liquidity%20and%20Capital%20Resources) Total liquidity was $89.6 million as of March 31, 2025, with Adjusted EBITDA at $51.0 million for the trailing twelve months Liquidity Position as of March 31, 2025 (in millions) | Source | Amount | | :--- | :--- | | Cash and cash equivalents | $10.4 | | ABL Agreement availability (covenant limited) | $63.2 | | Receivables Purchase Agreement availability | $16.0 | | **Total Liquidity** | **$89.6** | Reconciliation to Adjusted EBITDA (Trailing Twelve Months Ended Mar 31, 2025, in thousands) | Metric | Amount | | :--- | :--- | | Net loss as reported | $(13,106) | | Adjustments (Interest, Taxes, D&A, etc.) | $64,069 | | **Adjusted EBITDA** | **$50,963** | - The company has a **$20.0 million** stock repurchase program with **$11.1 million** remaining available as of March 31, 2025, with no shares repurchased during the quarter[217](index=217&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=41&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) No material changes in market risk exposures since the 2024 Annual Report on Form 10-K disclosures - There were no material changes in market risk for changes in foreign currency exchange rates and interest rates from the information provided in the 2024 Annual Report on Form 10-K[218](index=218&type=chunk) [Controls and Procedures](index=41&type=section&id=Item%204.%20Controls%20and%20Procedures) CEO and CFO concluded disclosure controls were effective, with no material changes to internal controls during the quarter - The CEO and CFO concluded that as of March 31, 2025, the company's disclosure controls and procedures were effective[219](index=219&type=chunk) - No material changes were made to the company's internal controls over financial reporting during the most recent fiscal quarter[220](index=220&type=chunk) Part II [Other Information](index=41&type=section&id=Part%20II.%20Other%20Information) This section covers legal proceedings, risk factors, equity sales, and other disclosures not included in Part I [Legal Proceedings](index=41&type=section&id=Item%201.%20Legal%20Proceedings) This section refers to Note 12 for details on legal proceedings, including an EPA matter and a settled case - For a description of legal proceedings, the report refers to NOTE 12 — CONTINGENCIES in the financial statements[221](index=221&type=chunk) [Risk Factors](index=41&type=section&id=Item%201A.%20Risk%20Factors) New U.S. international trade policy tariffs on Chinese imports pose a material risk to the business - A key risk factor is the uncertainty of international trade agreements, particularly new tariffs on goods imported from China, which are expected to have a material impact on the business[223](index=223&type=chunk) - The company is taking mitigating actions, such as adjusting pricing, product configurations, and inventory management, but warns these may not fully offset the negative impact of the tariffs[225](index=225&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=42&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) No public share repurchases, but 80,247 shares acquired from employees at $5.18 to cover tax liabilities Issuer Purchases of Equity Securities (March 1 - March 31, 2025) | Period | Total Shares Purchased | Average Price Paid per Share ($) | Shares Purchased as Part of Public Program | Max Value Remaining for Repurchase ($) | | :--- | :--- | :--- | :--- | :--- | | Mar 1 - Mar 31, 2025 | 80,247 | $5.18 | — | $11,140,752 | [Other Information](index=42&type=section&id=Item%205.%20Other%20Information) No directors or officers adopted, modified, or terminated Rule 10b5-1 trading arrangements during Q1 2025 - No directors or officers adopted, modified, or terminated a Rule 10b5-1 trading arrangement during the fiscal quarter ended March 31, 2025[227](index=227&type=chunk) [Exhibits](index=43&type=section&id=Item%206.%20Exhibits) This section indexes all exhibits filed with the Form 10-Q, including CEO/CFO certifications and key agreements - The Exhibit Index lists all documents filed with the report, including required CEO/CFO certifications, a lease agreement dated January 23, 2025, and an amendment to the Shares Subscription Agreement with Grupo Vasconia[229](index=229&type=chunk)

Financial Data and Key Metrics Changes - The net loss for the first quarter of 2025 was $4.2 million or $0.19 per diluted share, compared to a loss of $6.3 million or $0.29 per diluted share in the first quarter of 2024 [21] - Adjusted net loss was $5.3 million for Q1 2025 or $0.25 per diluted share, compared to $3.2 million or $0.15 per diluted share in 2024 [21] - Consolidated sales declined by 1.5% to $140.1 million, with US segment sales also decreasing by 1.5% to $128.5 million [22] - Gross margin decreased to 36.1% from 40.5%, driven by customer and product mix [23] Business Line Data and Key Metrics Changes - The major product line decreases were in kitchenware, largely offset by increases in tableware and home solution products, particularly in warehouse clubs, e-commerce, and the dollar channel [22] - In food service, revenue growth was noted despite delays in product launches and capital projects [14] - International segment sales were approximately flat year over year, with operating results improving due to implemented actions [15] Market Data and Key Metrics Changes - The mass retail channel experienced a pronounced decline, while e-commerce, the dollar channel, and club sales showed strong gains [6] - The Asia Pacific region saw an increase, offset by a small decrease from UK national accounts [22] Company Strategy and Development Direction - The company is transitioning to a geographically distributed sourcing and manufacturing model to mitigate risks from US trade policy changes, aiming to relocate 80% of manufacturing out of China by the end of 2025 [10][11] - Cost management measures have been tightened, with over $10 million in annual costs identified for elimination [17] - The company is actively pursuing M&A opportunities but is being conservative in its approach due to the current environment [18] Management's Comments on Operating Environment and Future Outlook - The management highlighted ongoing economic headwinds and a volatile tariff policy impacting pricing, promotions, and product planning [7] - The company is well-positioned to absorb near-term pressures and aims to emerge stronger when economic trends stabilize [19] - No formal guidance for the full year 2025 was issued due to a lack of visibility in the current environment [20] Other Important Information - The company has a strong balance sheet with liquidity of approximately $90 million at quarter-end [28] - Adjusted EBITDA for the trailing twelve months ended March 31, 2025, was $51 million [22] Q&A Session Summary Question: Can you provide additional numbers regarding the sales decline at mass retail and the sales increase in e-commerce and other channels? - The swing was approximately $15 million [32] Question: Can you give an update on the Dolly Parton program? - Shipments occurred as expected, and the program remains strong with anticipated year-over-year growth [34] Question: What is the magnitude of the planned price increases? - The bulk of the increases is between 6-16%, with the impact on volume currently unknown [36] Question: Why was the decision made not to provide guidance? - The main reason is the lack of visibility in the current environment, making it difficult to provide accurate guidance [44] Question: Why hasn't the transition out of China been completed already? - The company has been ramping up production in other geographies and is actively shipping from multiple locations [48] Question: How does the company expect demand to react to significant price increases? - Historically, the company has seen relatively little impact on demand from price increases, particularly in essential product categories [49] Question: What message would the company convey to shareholders regarding stock performance? - The company believes there is a significant intrinsic value gap and is focused on realizing this value in the stock price [52]

Financial Data and Key Metrics Changes - The net loss for the first quarter of 2025 was $4.2 million, or $0.19 per diluted share, compared to a loss of $6.3 million, or $0.29 per diluted share in the first quarter of 2024 [20] - Adjusted net loss was $5.3 million for Q1 2025, or $0.25 per diluted share, compared to $3.2 million, or $0.15 per diluted share in 2024 [20] - Consolidated sales declined by 1.5% to $140.1 million, with US segment sales also decreasing by 1.5% to $128.5 million [21][22] - Gross margin decreased to 36.1% from 40.5%, driven by customer and product mix [22] Business Line Data and Key Metrics Changes - The major product line decrease was in kitchenware, offset by increases in tableware and home solution products, particularly in warehouse clubs, e-commerce, and the dollar channel [21] - Revenue in the food service segment showed growth despite macro-driven delays in product launches and capital projects [13] - International segment sales were flat year over year, with operating results improving due to implemented actions [14] Market Data and Key Metrics Changes - The Asia Pacific region saw an increase in sales, which was offset by a small decrease from UK national accounts [22] - The mass retail channel experienced a significant sales decline, estimated at around $15 million, while e-commerce, club, and dollar store channels saw increases [30] Company Strategy and Development Direction - The company is transitioning to a geographically distributed sourcing and manufacturing model to mitigate risks from US trade policy changes, aiming to relocate 80% of manufacturing out of China by the end of 2025 [10][19] - Cost management measures have been tightened, with over $10 million in annual costs identified for elimination [15] - The company is actively pursuing M&A opportunities but is being conservative in its approach due to the current economic environment [17] Management's Comments on Operating Environment and Future Outlook - The management highlighted ongoing economic headwinds and a volatile tariff policy affecting the retail environment, leading to slower purchasing and cautious reordering [6][18] - The decision to withhold formal guidance for the full year 2025 was made due to a lack of visibility in the current environment [19][41] - Management expressed confidence in the company's positioning and resilience, stating that they are well-prepared to absorb near-term pressures [18] Other Important Information - The company has taken early actions to build import inventory from China ahead of tariff increases, which has helped mitigate some risks [12] - The transition to a new distribution facility in Maryland is on track, expected to generate long-term efficiencies despite short-term financial impacts [16] Q&A Session Summary Question: Can you provide additional numbers regarding the sales decline at mass retail and the increase in e-commerce? - The sales decline in the mass retail channel was approximately $15 million [30] Question: Can you give an update on the Dolly Parton shipments? - Shipments occurred as expected, and the program remains strong with anticipated year-over-year growth [32] Question: What is the magnitude of the planned price increases? - Price increases are expected to be between 6-16%, with some items subject to higher increases due to tariffs [34] Question: Why did the company decide not to provide guidance? - The decision was based on a lack of visibility in the current environment, making it difficult to provide accurate guidance [41][42] Question: What is the company's strategy for moving out of China? - The company is actively ramping up production in Mexico and other regions, with positive feedback from retail customers regarding the transition [46] Question: How does the company expect demand to react to significant price increases? - Historically, the company's products have shown resilience in high-cost environments, with minimal impact on demand [47] Question: What message does the company have for shareholders regarding stock performance? - The company believes there is a significant intrinsic value gap and is focused on realizing this value in the stock price [50]