Financial Performance - Consolidated net sales for Q1 2024 were $142.2 million, a decrease of $3.2 million, or 2.2%, compared to $145.4 million in Q1 2023[154]. - U.S. segment net sales for Q1 2024 were $130.5 million, down $3.0 million, or 2.2%, from $133.5 million in Q1 2023[155]. - International segment net sales for Q1 2024 were $11.7 million, a decrease of $0.2 million, or 1.7%, compared to $11.9 million in Q1 2023[159]. - U.S. segment's Kitchenware product category net sales were $83.5 million in Q1 2024, a decrease of $2.2 million, or 2.6%, from $85.7 million in Q1 2023[156]. - U.S. segment's Tableware product category net sales increased to $25.8 million in Q1 2024, up $1.8 million, or 7.5%, from $24.0 million in Q1 2023[157]. Profitability and Margins - Gross margin for Q1 2024 was $57.5 million, or 40.5%, an increase from $53.8 million, or 37.0%, in Q1 2023[160]. - Gross margin for the International segment was $4.2 million, or 35.9%, in Q1 2024, down from $5.0 million, or 42.0%, in Q1 2023[161]. - The company recorded a net loss of 4.4% in Q1 2024, improved from a net loss of 6.1% in Q1 2023[152]. Expenses - Distribution expenses for Q1 2024 were $16.2 million, a decrease from $16.9 million in Q1 2023, with distribution expenses as a percentage of net sales at 11.4%[162]. - Selling, general and administrative expenses for Q1 2024 were $39.5 million, an increase of $1.6 million or 4.2% compared to Q1 2023[165]. - U.S. segment selling, general and administrative expenses were $30.8 million for Q1 2024, representing 23.6% of net sales, up from 21.9% in Q1 2023[166]. - International segment selling, general and administrative expenses were $4.2 million for Q1 2024, accounting for 35.9% of net sales, compared to 30.0% in Q1 2023[167]. Cash Flow and Liquidity - As of March 31, 2024, the company had cash and cash equivalents of $4.6 million, down from $16.2 million at December 31, 2023[176]. - Total liquidity as of March 31, 2024 was $125.1 million, consisting of cash, availability under the ABL Agreement, and funding under the Receivables Purchase Agreement[176]. - Net cash provided by operating activities was $10.5 million for the three months ended March 31, 2024, compared to $12.1 million for the same period in 2023[206]. - Net cash used in financing activities was $21.4 million for the three months ended March 31, 2024, compared to net cash provided of $5.7 million for the same period in 2023[208]. Debt and Interest - Interest expense increased to $5.6 million in Q1 2024 from $5.3 million in Q1 2023 due to higher interest rates on outstanding borrowings[170]. - The interest rate on outstanding borrowings under the Term Loan at March 31, 2024, was 10.94%[191]. - The company has a maximum borrowing capacity of $200.0 million under the ABL Agreement, which may increase to $250.0 million if certain conditions are met[185]. Future Outlook - The Company expects elevated inflation and high interest rates to negatively impact consumer spending and buying patterns in 2024[145]. Other Financial Metrics - The Company’s adjusted EBITDA for the trailing twelve months ended March 31, 2024, was $59.5 million[194]. - Capital expenditures for the three months ended March 31, 2024, were $0.6 million[195]. - As of March 31, 2024, $23.8 million of accounts receivables were available for sale to HSBC, net of applicable charges[200]. - The Company did not sell receivables to HSBC during the three months ended March 31, 2024, and March 31, 2023[200]. - The aggregate gross notional value of foreign exchange contracts at March 31, 2024, was $7.0 million[204]. - The Company has an uncommitted Receivables Purchase Agreement with HSBC, allowing for the sale of eligible accounts receivable up to $30.0 million[199]. - The remaining dollar amount available for stock repurchases under the Board authorized plan was $11.1 million as of March 31, 2024[209]. Equity and Losses - Equity in losses from Vasconia was $2.1 million for Q1 2024, up from $0.7 million in Q1 2023, with Vasconia reporting a loss from operations of $6.9 million[173][174].

Exhibit 99.1 Lifetime Brands, Inc. Reports First Quarter 2024 Financial Results Income and EBITDA Growth Highlight Performance GARDEN CITY, NY, May 9, 2024 – 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 March 31, 2024. Rob Kay, Lifetime's Chief Executive Officer, commented, "We are pleased with our performance in the first quarter as we deliv ...

GARDEN CITY, N.Y., May 02, 2024 (GLOBE NEWSWIRE) -- Lifetime Brands, Inc. (NASDAQ:LCUT), a leading global designer, developer and marketer of a broad range of branded consumer products used in the home, will release its first quarter financial results at 7:00 a.m. (Eastern Time) on Thursday, May 9, 2024. The Company has scheduled a conference call for 11:00 a.m., at which time Chief Executive Officer Rob Kay and Chief Financial Officer Larry Winoker will discuss the Company's financial results and will be a ...

GARDEN CITY, N.Y., May 02, 2024 (GLOBE NEWSWIRE) -- Lifetime Brands, Inc. (NasdaqGS: LCUT), a leading global designer, developer and marketer of a broad range of branded consumer products used in the home, will release its first quarter financial results at 7:00 a.m. (Eastern Time) on Thursday, May 9, 2024. The Company has scheduled a conference call for 11:00 a.m., at which time Chief Executive Officer Rob Kay and Chief Financial Officer Larry Winoker will discuss the Company's financial results and will b ...

Lifetime Brands, Inc. (NASDAQ:LCUT) Q4 2023 Earnings Conference Call March 12, 2024 11:00 AM ET Company Participants T.J. O'Sullivan - IR Robert Kay - CEO Laurence Winoker - CFO Conference Call Participants Anthony Lebiedzinski - Sidoti & Company Brian McNamara - Canaccord Genuity Operator Good morning, ladies and gentlemen, and welcome to the Lifetime Brands' Fourth Quarter and Full Year 2023 Earnings Conference Call. At this time, I would like to inform all participants that their lines will be in a liste ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________________ FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 or 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 1000 Stewart Avenue, Garden City, New York 11530 (Address of principal executive offices, including Zip Code) (516) 683-6000 (Registrant's telephone number, including area code) For the fiscal year ended: December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 or 15 (d ...

Exhibit 99.1 Lifetime Brands, Inc. Reports Fourth Quarter 2023 Financial Results Declares Regular Quarterly Dividend GARDEN CITY, NY, March 12, 2024 – 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 and full year ended December 31, 2023. Rob Kay, Lifetime's Chief Executive Officer, commented, "We closed out 2023 with another strong quarter, delivering ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) Table of Contents ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: September 30, 2023 (Exact name of registrant as specified in its charter) 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. Delaware 11-2682486 (St ...

Lifetime Brands, Inc. (NASDAQ:LCUT) Q3 2023 Results Conference Call November 9, 2023 11:00 AM ET Company Participants T.J. O'Sullivan - IR Robert Kay - CEO Laurence Winoker - CFO Conference Call Participants Anthony Lebiedzinski - Sidoti & Company Brian McNamara - Canaccord Genuity Linda Bolton-Weiser - D.A. Davidson Operator Good morning, ladies and gentlemen, and welcome to Lifetime Brands' Third Quarter 2023 Earnings Conference Call. [Operator Instructions]. I would now like to introduce your host for to ...

Lifetime Brands, Inc. (NASDAQ:LCUT) Q2 2023 Earnings Conference Call August 3, 2023 11:00 AM ET Company Participants Robert Kay - Chief Executive Officer Laurence Winoker - Chief Financial Officer Conference Call Participants Madison Callinan - Canaccord Genuity Alan Weber - Robotti & Company Advisors Operator Good morning, ladies and gentlemen, and welcome to Lifetime Brands' Second Quarter 2023 Earnings Conference Call. [Operator Instructions] I would now like to introduce your host for today's conferenc ...