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iMedia Brands, Inc. (IMBI) is a leading interactive media company that specializes in multiplatform media and interactive commerce. The company, renowned for its customer-centric approach, operates a variety of television networks and digital platforms that sell consumer products to customers globally.
Core Business and Operations
iMedia Brands is primarily involved in the production and distribution of engaging television content that integrates direct-to-consumer sales. Their operations span across TV networks such as ShopHQ, a live 24/7 shopping network, and other specialty channels. They also manage several e-commerce platforms, enhancing their reach beyond televised content.
Recent Achievements and Projects
Recently, the company has expanded its product offerings and improved its customer engagement strategies. By integrating advanced analytics and AI-driven recommendations, iMedia Brands has optimized its sales and marketing efforts to cater to individual customer preferences. The company has also launched initiatives to increase its content production capabilities, ensuring a steady flow of fresh and appealing content for its audience.
Financial Condition
iMedia Brands has demonstrated resilience and growth in its financial performance. Their strategic focus on optimizing operational efficiencies and expanding revenue streams has resulted in improved margins and profitability. The company continues to invest in infrastructure and technology, emphasizing long-term financial stability and growth.
Partnerships and Collaborations
Partnerships play a crucial role in iMedia Brands' success. The company collaborates with a diverse range of brands and suppliers, enabling them to offer a wide variety of products. They have also formed alliances with media and technology companies to enhance their content delivery and customer engagement capabilities.
Products and Services
iMedia Brands offers an extensive line of consumer products, including fashion, beauty, wellness, home goods, and more. Their platforms provide a seamless shopping experience, combining entertainment with convenience. The company's dedication to quality and customer satisfaction has earned them a loyal customer base.
With their headquarters in Eden Prairie, Minnesota, iMedia Brands continues to innovate and expand, driving growth through strategic initiatives and customer-focused solutions.
iMedia Brands (NASDAQ: IMBI) will hold a conference call on May 24, 2022, at 8:30 a.m. Eastern time to discuss its first-quarter financial results for the period ending April 30, 2022.
The call will be accessible via dial-in and webcast. A replay will also be available starting at 11:30 a.m. Eastern time on the same day through June 7, 2022. The company aims to highlight its performance amidst its interactive media and e-commerce growth.
iMedia Brands (Nasdaq: IMBI, IMBIL) announced the launch of a Voice Recognition Interactive Voice Response (IVR) system through its subsidiary, 1-2-3.tv. This new system enhances the phone ordering experience during auctions by utilizing speech synthesis technology, which improves efficiency for over 6 million annual calls. Additionally, 1-2-3.tv introduced Magic Deals, a limited-time promotional format for fixed-price products available on-air and online. This innovation aims to engage consumers and respond to the growing trend of voice assistant usage.
iMedia Brands, Inc. (Nasdaq: IMBI, IMBIL) has successfully completed an optimization release for its programmatic advertising platform, Retail Media Exchange™. This update enhances transactional speed, transparency, and content relevancy for clients. iMDS integration of Pixalate's data intelligence aims to mitigate non-human traffic risks, while also utilizing over 35 million first-party data records for improved ad performance. The platform assists in digital advertising across various media, thereby supporting advertisers and publishers in optimizing engagement and monetization strategies.
iMedia Brands has announced the promotion of Cassie Anliker to President of ShopHQ Networks, effective April 1, 2022. Anliker, previously SVP of Merchandising, will now oversee programming, creative, and television production across ShopHQ and its sister networks. CEO Tim Peterman acknowledged her pivotal role in ShopHQ's turnaround. Anliker aims to innovate for the 55+ demographic, building on her previous successes, including launching over 100 brands in two years and revitalizing the popular Christopher & Banks brand.
iMedia Brands reported Q4 2021 net sales of $194 million, up 55% year-over-year, and full-year sales of $551 million, a 21% increase from 2020. Gross margin improved to 38.3%. However, the company faced a net loss of $5 million for the quarter, compared to $2.7 million the previous year. Adjusted EBITDA rose to $15.1 million, an 80% increase. Active customer count grew by 55.3%. For Q1 2022, projected sales are approximately $156 million, with a full-year revenue guidance of $675 to $725 million. The outlook may be affected by ongoing global events and high logistics costs.
iMedia Brands has promoted Matt Leardini to President of iMedia Digital Services (iMDS) as the company renews its Google search agreement. iMDS engages over 200 million digital shoppers monthly, with significant prospects in the $9 billion OTT advertising market and the $200 billion online advertising market. Leardini aims to enhance iMDS's advertising services by integrating first-party shopping data and digital advertising demand into its Retail Media Exchange. Leardini previously served as VP of Search and Advertising Operations.
iMedia Brands (NASDAQ: IMBI) will host a conference call on March 22, 2022, at 8:30 a.m. ET to discuss its 4Q and full-year financial results ending January 29, 2022. This announcement follows a preliminary financial disclosure made on February 7, 2022. CEO Tim Peterman and CFO Monty Wageman will lead the call. Investors can listen to the live webcast via their website. Replay options will be available until April 5, 2022.
iMedia Brands (NASDAQ: IMBI) reports Q4 consolidated net sales of $190 million, marking a 52% increase year-over-year. The Entertainment segment shows significant growth, with $163 million in sales, while Consumer Brands and Media Commerce Services segments report increases of 1900% and 325%, respectively. However, the company expects a Q4 net loss of $5 million, up from $2.7 million in the previous year. Full year 2021 net sales are expected at $547 million, a 20% increase. iMedia reaffirms its 2022 revenue guidance of $675 to $725 million.
iMedia Brands (Nasdaq: IMBI) reported a 34% revenue growth in its entertainment networks for November and December 2021 compared to the same period last year. The company launched over 100 new brands in 2021, contributing about 19% of its total revenue. Notable brands include Oro Mio jewelry and FlowFlex COVID test kits. On January 23, 2022, 1-2-3.tv successfully broadcasted live from the U.S., selling out its Invicta watches inventory in three hours, showcasing the synergy between its networks.
iMedia Brands (Nasdaq: IMBI) is making strides in revitalizing the Christopher & Banks (C&B) brand through its ShopHQ platform. C&B has become the fastest-growing fashion brand on ShopHQ, with sales tripling from Q2 to Q3 and expectations to double again in Q4 2022. Notable initiatives include the launch of a personalized styling service and the distribution of a direct-to-consumer catalog. C&B has also successfully reopened five retail stores, enhancing its omnichannel strategy and engaging its 1.5 million customers.
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