Core Viewpoint - Lifetime Brands, Inc. is relocating its East Coast distribution center to a new facility in Hagerstown, MD, which will increase its distribution capacity by 46% to 1.027 million square feet, expected to be fully operational by 2026 [1][3]. Group 1: Infrastructure Optimization - The new Hagerstown distribution center will serve as the primary U.S. East Coast distribution hub, relocating from Robbinsville, NJ, and will enhance operational efficiencies through a new warehouse management system [1][2]. - The facility will provide an additional 327,000 square feet of capacity, allowing for improved logistics and cost efficiencies [3][6]. Group 2: Strategic Growth Initiatives - This move is part of Lifetime's long-term growth strategy, which includes both organic and inorganic growth opportunities, aimed at modernizing operations for speed and efficiency [2][4]. - The relocation is a proactive measure to manage future expenses, supported by negotiated tax abatements and incentives from the State of Maryland and Washington County [4][6]. Group 3: Leadership Insights - Rob Kay, CEO of Lifetime, expressed optimism about the new facility as a cornerstone for future growth initiatives, emphasizing the importance of distribution centers in the company's operations [3][4].

Core Insights - Lifetime Brands, Inc. has appointed Jeffrey Evans as an independent director to its Board of Directors, effective immediately, to enhance its go-to-market and merchandising strategies [1][2] Company Overview - Lifetime Brands is a leading global designer, developer, and marketer of a wide range of branded consumer products used in the home, including kitchenware, tableware, and home solutions [3] Leadership Appointment - Jeffrey Evans brings over three decades of retail and consumer leadership experience, having previously served as President and Chief Merchandising Officer of At Home and held senior roles at Walmart [2] - His expertise in developing merchandising strategies for mass market and warehouse club customers is expected to provide valuable insights for the company's growth initiatives [2] Strategic Focus - The company aims to leverage Evans' experience in digital and omnichannel strategies to enhance its product innovation and go-to-market approaches, particularly in the context of increasing online commerce [2] - Evans expressed enthusiasm about contributing to the company's efforts to access additional market share and unlock shareholder value [2]

Company Overview - Lifetime Brands, Inc. (NASDAQ: LCUT) operates a diverse portfolio of brands and maintains connections with major retailers, stores, and merchants [1] - Recent investments in new manufacturing capacity and hiring initiatives are expected to enhance net sales growth [1] Investment Insights - The company is viewed favorably for its potential in value investments, particularly for trading at approximately 10 times earnings and offering dividend yield [1] - The focus is primarily on small-cap and mid-cap companies across various regions including the United States, Canada, South America, the UK, France, and Germany [1]

Financial Data and Key Metrics Changes - For Q3 2024, the company reported net sales of $183.8 million, a decrease from $191.7 million in the same period last year, reflecting a 4.1% decline [8][50] - Net income for Q3 2024 was $300,000 or $0.02 per diluted share, down from $4.2 million or $0.20 per diluted share in Q3 2023 [47] - Adjusted net income for Q3 2024 was $4.5 million or $0.21 per diluted share, compared to $7.7 million or $0.36 per diluted share in 2023 [48] - Adjusted EBITDA for the trailing 12-month period ended September 30, 2024, was $53.9 million [48] Business Line Data and Key Metrics Changes - U.S. segment sales decreased by 5.1% to $170.2 million, impacted by end market softness and retailer de-stocking [50] - E-commerce sales increased to $34.4 million, representing 18.7% of total sales year-over-year, with U.S. e-commerce sales growing by 10.7% [15][16] - International segment sales increased by 10.9% to $13.6 million, driven by new placements at large retailers [51][18] Market Data and Key Metrics Changes - The company experienced weakness in the seasonal back-to-school consumer demand, but anticipates a rebound during the holiday season [13] - The food service market has seen a downturn, leading to fewer shipments than anticipated [12][28] - The UK end markets remain soft, but the company is gaining traction with national retailers and grocers [21] Company Strategy and Development Direction - The company is focusing on restoring international business profitability, which could add an incremental $10 million in annual EBITDA compared to fiscal year 2023 [20] - The company is actively pursuing M&A opportunities in core business areas and new product adjacencies, while maintaining financial discipline [31][34] - A strategic goal is to expand the Dolly Parton brand presence, with expectations of exceeding $10 million in revenue from this program [25][26] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism for the holiday season, expecting it to align with forecasted increases by major retailers [13] - The company anticipates full-year sales of $680 million to $700 million, reflecting a slight decrease from $687 million in 2023 [14][60] - Management highlighted the importance of consumer confidence and demand for long-term growth, particularly in the food service sector [73][75] Other Important Information - The company has taken defensive operational measures by increasing inventory levels to mitigate risks from potential tariff increases [41][43] - The company recorded one-time acquisition-related expenses of $0.2 million in the quarter related to a potential acquisition target that did not materialize [33] Q&A Session Summary Question: What were the main reasons for the Q3 sales shortfalls? - Management indicated that the primary reasons were softness in the mass channel and delayed shipments from the Dollar General program [62] Question: Can you elaborate on the distribution expenses increase? - Management noted that approximately $2 million of the $3 million year-over-year increase in distribution expenses was non-recurring [66] Question: What are the expectations for the international segment in the new guidance? - Management stated that while the international segment will not be profitable this year, it is expected to improve year-over-year [67] Question: What drives the anticipated sales growth in Q4? - Management explained that the growth is largely due to timing, with several programs shifting from Q3 to Q4 [70][71] Question: What is needed for sustainable long-term growth? - Management emphasized that consumer confidence and demand are critical, along with potential economic stimulus [75]

Lifetime Brands (LCUT) came out with quarterly earnings of $0.21 per share, missing the Zacks Consensus Estimate of $0.38 per share. This compares to earnings of $0.36 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -44.74%. A quarter ago, it was expected that this kitchen products company would post a loss of $0.02 per share when it actually produced a loss of $0.03, delivering a surprise of -50%.Over the last four quarters, ...

Declares Regular Quarterly Dividend GARDEN CITY, N.Y., Nov. 07, 2024 (GLOBE NEWSWIRE) -- Lifetime Brands, Inc. (NasdaqGS: LCUT), a leading global designer, developer and marketer of a broad range of branded consumer products, today reported its financial results for the quarter ended September 30, 2024. Rob Kay, Lifetime’s Chief Executive Officer, commented, “While we are disappointed that our third quarter results did not meet our internal projections due to soft demand in end markets combined with delayed ...

GARDEN CITY, N.Y., Oct. 31, 2024 (GLOBE NEWSWIRE) -- Lifetime Brands, Inc. (NasdaqGS: LCUT) (the “Company”), a leading global designer, developer and marketer of a broad range of branded consumer products, will release its third quarter financial results after the market close on Thursday, November 7, 2024. The Company will host a conference call the following day, on Friday, November 8, 2024 at 8:30 a.m. Eastern Time. The live conference call can be accessed by dialing 1-877-451-6152 (USA) or 1-201-389-087 ...

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks. Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leavin ...

Secures Agreement with Premium Glassware Brands Royal Leerdam® and ONIS® Adds Scale to Commercial Food Services Business GARDEN CITY, N.Y., Sept. 27, 2024 (GLOBE NEWSWIRE) -- Lifetime Brands, Inc. (NasdaqGS: LCUT), a leading global designer, developer and marketer of a broad range of branded consumer products, today announced it has signed an agreement to expand its product offerings within its Mikasa Hospitality division to distribute and market the Royal Leerdam® and ONIS® brands. Both brands are part of ...

Financial Data and Key Metrics - Net sales for Q2 2024 were $141.7 million, down from $146.4 million in the same period last year, reflecting a 3.2% decline [5] - Adjusted EBITDA for the trailing 12 months was $56.6 million [5] - Net loss for Q2 2024 was $18.2 million, including a non-cash loss of $14.2 million related to the Grupo Vasconia investment [14] - Adjusted net loss was $0.6 million for Q2 2024, compared to $0.3 million in Q2 2023 [14] - Consolidated gross margin increased to 38.5% from 38.2% [16] Business Line Performance - US segment sales decreased by 3.3% to $130.5 million, driven by declines in kitchenware and home solutions categories, partially offset by growth in tableware [15] - International segment sales declined by 2.6% to $11.2 million, with lower replenishment orders in Europe partially offset by higher sales in Asia [16] - E-commerce sales represented 18.9% of total revenues, up from 18.1% in the same period last year [8] - The Dolly Parton product line exceeded expectations, with $4 million shipped in Q2 and full-year shipments expected to exceed $10 million [7][24] Market Performance - In Europe, the UK's economic recession continued to impact demand, but the company maintained relatively flat sales by shifting focus to larger national accounts [6] - In Asia Pacific, the company is transitioning to a direct sales strategy, discontinuing its distributor partnership and building its own infrastructure [7] - The Red Sea conflict has increased shipping times to Europe, necessitating higher safety stock levels [6] Strategic Initiatives and Industry Competition - The company is focused on increasing market share, expanding e-commerce, and improving gross margins [4] - Strategic initiatives include the successful launch of the Dolly Parton product line and the transition to a direct APAC sales strategy [7] - The company is diversifying its sourcing, aiming to have 25% of goods sourced outside of China, with a focus on Southeast Asia [10] - The company is actively pursuing M&A opportunities and expects to update the market on strategic initiatives in the coming months [11] Management Commentary on Operating Environment and Outlook - Management acknowledged macroeconomic pressures and weakened demand but expressed confidence in executing the operational plan for the remainder of 2024 [5][13] - The company expects improved results in the second half of the year, driven by strategic initiatives and market share gains [5] - Management reiterated full-year guidance, excluding the non-cash loss related to Grupo Vasconia, with net sales expected to be between $690 million and $730 million [21] Other Important Information - The company recorded a non-cash loss of $14.2 million due to the discontinuation of the equity method of accounting for its investment in Grupo Vasconia [12][19] - The company's liquidity remains strong at $119 million, with a net debt to adjusted EBITDA leverage ratio of 3.3 times [21] - The company is managing input costs effectively, with product COGS decreasing in many areas despite higher ocean freight costs [9] Q&A Session Summary Question: Details on sluggish demand and seasonal timing of shipments [23] - The decline in sales was attributed to macroeconomic pressures and seasonal timing, particularly in the club channel, which saw orders shift to the second half of the year [23] Question: Dolly Parton product performance [24] - The Dolly Parton product line shipped $4 million in Q2, with full-year shipments expected to exceed $10 million, primarily in the dollar channel [24] Question: Inventory levels and retail replenishment [25][26] - The company maintains appropriate inventory levels and has increased safety stock in Europe due to longer shipping times [25] - Retailers are leaning on inventory levels, which benefits the company's market position [26] Question: Update on the S'well acquisition [29][30] - The S'well brand is performing well, with new product introductions driving growth in e-commerce and corporate channels [29][30] Question: Discrepancy between Nielsen data and reported revenue [31][32] - The company attributes the discrepancy to growth in channels not covered by Nielsen, such as the dollar channel, and gains in market share in Walmart and Target [31][32] Question: Dolly Parton product shipments in H2 2024 [33] - The company expects to exceed $10 million in Dolly Parton product shipments for the year, with the majority being replenishment orders [33] Question: Margin impact of shifting focus to larger retailers in Europe [34][35] - Margins are expected to be lower when selling to larger retailers, but this is offset by improved product mix and gross margins [35] Question: Confidence in H2 sales growth [37][38] - The company expects H2 growth to be driven by seasonal timing, new product launches like Dolly Parton, and e-commerce growth [37][38] Question: Investment in innovation [39] - The company is investing in R&D, with the Build-A-Board product line expected to be the largest launch in the company's history [39] Question: International business viability [40] - The company remains committed to its international business, with new listings and restructuring efforts expected to drive growth [40]