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Lifetime Brands(LCUT) - 2023 Q4 - Annual Report
2024-03-12 20:31
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 ...
Lifetime Brands(LCUT) - 2023 Q4 - Annual Results
2024-03-12 12:04
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 ...
Lifetime Brands(LCUT) - 2023 Q3 - Quarterly Report
2023-11-09 21:20
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(LCUT) - 2023 Q2 - Quarterly Report
2023-08-03 20:18
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, 2023 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) - 2023 Q1 - Quarterly Report
2023-05-10 20:08
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: March 31, 2023 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 ...
Lifetime Brands(LCUT) - 2022 Q4 - Annual Report
2023-03-09 22:21
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 For the fiscal year ended: December 31, 2022 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 cha ...
Lifetime Brands(LCUT) - 2022 Q4 - Earnings Call Transcript
2023-03-09 21:13
Lifetime Brands, Inc. (NASDAQ:LCUT) Q4 2022 Earnings Conference Call March 9, 2023 11:00 AM ET Company Participants Andrew Squire - IR Rob Kay - CEO Larry Winoker - CFO Conference Call Participants Linda Bolton Weiser - D.A. Davidson Anthony Lebiedzinski - Sidoti & Co. Operator Good morning, ladies and gentlemen, and welcome to Lifetime Brands' Fourth Quarter and Full Year 2022 Earnings Conference Call. At this time I’d like to inform all participants that their lines will be in a listen-only mode. After th ...
Lifetime Brands(LCUT) - 2022 Q3 - Earnings Call Transcript
2022-11-06 14:25
Financial Data and Key Metrics Changes - In Q3 2022, the company reported net sales of $186.86 million, down from $224.8 million in Q3 2021, reflecting a 17% decline [10][33] - Adjusted EBITDA for Q3 2022 was $18.8 million, compared to $29.3 million in the same period last year [10][31] - The net loss for Q3 2022 was $6.4 million, or $0.30 per diluted share, compared to a net income of $12.6 million, or $0.57 per diluted share in Q3 2021 [31] Business Line Data and Key Metrics Changes - U.S. segment sales increased by 13% to $172.8 million, while international segment sales decreased by 49% to $13.8 million [33] - The gross margin percentage for the U.S. segment was 36.6%, down from 37.7% in the previous year, while international gross margin improved to 32.6% from 31.7% [35] Market Data and Key Metrics Changes - The company noted a significant drop in market demand in Europe and Asia Pacific, exacerbated by inflation and geopolitical factors [15][34] - Retail inventory levels have been reported as low, with many major retailers experiencing in-stock levels in the 80s, compared to target levels in the lower- to mid-90s [47] Company Strategy and Development Direction - The company is focusing on restructuring its European operations to align with reduced demand and has implemented cost-saving measures [16][21] - There is an ongoing strategy to explore acquisition opportunities in core and adjacent product categories, with a focus on maintaining a strong balance sheet [20][43] Management's Comments on Operating Environment and Future Outlook - Management expressed concerns about the macroeconomic environment impacting consumer demand, particularly in Europe, and has withdrawn guidance for the full year 2022 due to uncertainty [24][25] - The company remains optimistic about its core business and expects to see improvements in the bottom line performance of its international business following restructuring efforts [25][26] Other Important Information - The company recorded unusual charges, including a $5.1 million estimate for facility remediation and a $6.2 million non-cash impairment charge [39][40] - Liquidity remains strong, with $170.6 million available as of September 30, 2022, and a focus on reducing inventory levels [41][42] Q&A Session Summary Question: Can you provide insight into retail inventory levels? - Management indicated that retail inventory levels are low, with in-stock levels at major retailers in the 80s, which is below target levels [47][49] Question: How are point-of-sale trends performing? - In the U.S., point-of-sale has been steady, but shipments have declined more significantly, while in Europe, demand continues to decline [50][52] Question: What are the sales figures for S'well year-to-date? - S'well sales for the quarter were reported at $8 million, with year-to-date sales at approximately $12.4 million since the acquisition [55][59] Question: How is the restructuring in Europe expected to impact costs? - The restructuring is expected to primarily benefit SG&A costs, with a focus on right-sizing the infrastructure to match reduced demand [72] Question: Will the decline in ocean freight costs lead to improved gross margins? - Management indicated that while ocean freight costs are declining, the impact on gross margins will not be immediate and is expected to materialize in 2023 [75]
Lifetime Brands(LCUT) - 2022 Q3 - Quarterly Report
2022-11-03 20:17
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: September 30, 2022 or LIFETIME BRANDS, INC. (Exact name of registrant as specified in its charter) Delaware 11-2682486 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 1000 Stewart Avenue, Garden City, New York, 11530 (Address o ...
Lifetime Brands(LCUT) - 2022 Q2 - Earnings Call Transcript
2022-08-06 22:33
Lifetime Brands, Inc. (NASDAQ:LCUT) Q2 2022 Results Conference Call August 4, 2022 11:00 AM ET Company Participants Andrew Squire - Investor Relations Rob Kay - Chief Executive Officer Larry Winoker - Chief Financial Officer Conference Call Participants Linda Bolton - D.A. Davidson Anthony Lebiedzinski - Sidoti& Company Operator Good morning, ladies and gentlemen, and welcome to Lifetime Brands' Second Quarter 2022 Earnings Conference Call. At this time, I would like to inform all participants that their li ...