Welcome to our dedicated page for Imedia Brands news (Ticker: IMBIL), a resource for investors and traders seeking the latest updates and insights on Imedia Brands stock.
Founded in March 2013, iMedia Brands, Inc. (IMBIL) is a prominent online retailer offering a vast array of pet products. With over 6,500 product lines from 280 brands, they provide New Zealand's largest selection of pet food, toys, flea treatments, beds, collars, and more. All stock is housed in their Auckland-based warehouse, with free delivery on orders over $39 across New Zealand. iMedia Brands prioritizes simplicity, speed, and enjoyment in online shopping, boasting user-friendly websites, exceptional customer service, competitive prices, and extensive product ranges.
For those interested in joining a dynamic retail environment, founder Shane Bradley is the key contact. Shane has a proven track record of founding successful online businesses, such as finda.co.nz and grabone.co.nz.
iMedia Brands, Inc. (NASDAQ: IMBI, IMBIL) announced the appointment of Alan Aldworth to its board of directors, effective January 30, 2023. Aldworth has over 30 years of experience in media and publishing, having held leadership roles such as CEO of ProQuest and CFO at Tribune Company. He managed more than 50 M&A transactions totaling $5 billion. His appointment follows the resignation of Lisa Letizio. Chairman Landel Hobbs expressed confidence in Aldworth's ability to positively influence iMedia's strategic direction. iMedia operates multiple television networks and is focusing on the intersection of entertainment, e-commerce, and advertising.
iMedia Brands, Inc. has announced a Purchase and Sale Agreement with Pontus Net Lease Advisors for three of its buildings, expected to close in January 2023. The proceeds will pay down existing debt, including a $28.5 million loan. This transaction includes a corporate headquarters in Eden Prairie, MN, and distribution centers in Bowling Green, KY. iMedia plans to enter a leaseback agreement for the properties. CEO Tim Peterman stated this move strengthens the company's balance sheet, aligning with their 2022 priorities.
iMedia Brands, Inc. (NASDAQ: IMBI, IMBIL) announced a third-quarter net loss of $21.3 million and a 6% decline in net sales to $123 million, primarily due to a carriage disruption with DISH Network. However, year-to-date net sales increased by 15% to $411 million. The company is executing a $48 million sale-leaseback to improve its balance sheet by retiring debt. Despite challenges, customer growth rose by 15%. Q4 projections estimate net sales at $177 million, a 9% decline, but adjusted EBITDA is expected to reach $16 million, a 6% increase.
iMedia Brands, Inc. (NASDAQ: IMBI) will host a conference call and webcast on November 22, 2022, at 8:30 a.m. EST to discuss its third-quarter financial results for the period ending October 29, 2022. The financial results will be released prior to the call. Investors can dial in at U.S. 1-877-407-9039 or international 1-201-689-8470, using Conference ID 1373 4238. The call will be available for replay until December 6, 2022.
iMedia operates multiple TV networks and focuses on the intersection of media, ecommerce, and advertising.
iMedia Brands, Inc. (NASDAQ: IMBI, IMBIL) will participate in the 13th Annual Craig-Hallum Alpha Select Conference on November 17, 2022, at the Sheraton New York Times Square Hotel. CEO Tim Peterman will engage in one-on-one and group meetings. For meeting inquiries, contact Ken Cooper via email or at (952) 943-6119. iMedia Brands operates four television networks, reaching over 90 million U.S. homes and capitalizing on the convergence of media and ecommerce.
iMedia Brands, Inc. (NASDAQ: IMBI, IMBIL) announced a six-year extension of its partnership with Taboola, effective October 1, 2022. This collaboration enhances iMedia Digital Services' (iMDS) advertising capabilities, focusing on user engagement and ecommerce solutions. With over 200 million monthly users, iMDS will utilize Taboola's extensive product offerings, including personalized content feeds. This partnership continues to strengthen their shared commitment to driving innovation in digital advertising, particularly in ecommerce.
iMedia Brands, Inc. (NASDAQ: IMBI, IMBIL) has announced the return of three notable brands to its network portfolio. The brands include Gems en Vogue, a vintage gemstone jewelry line; Naturally, Danny Seo, which offers clean beauty products curated by eco-expert Danny Seo; and Elizabeth Grant International, a luxury skincare brand known for its proprietary anti-aging compound, Torricelumn™. The company's growth strategy is focused on deepening relationships with brands, which has resulted in increased customer growth and improved operational execution.
iMedia Brands, Inc. has appointed Richard E. French, Jr. to its board of directors as of September 15, 2022. With a strong background in television distribution and entrepreneurial initiatives, French previously contributed valuable insights during ShopHQ's affiliation with RNN. His experience is expected to enhance iMedia's growth strategy, which focuses on creating profitable television networks across multiple platforms. ShopHQ currently reaches over 20 million HD homes in major U.S. markets via various broadcasting methods.
iMedia Brands, Inc. (NASDAQ: IMBI, IMBIL) has announced its fall season lineup for Invicta NFL watches, which includes over 100 hours of live programming with broadcasts from Allegiant Stadium and US Bank Stadium. Additionally, the company has launched MLB and NHL-themed Invicta watch collections, enhancing its portfolio of licensed products. The MLB collection commenced on August 6, featuring watches from all 30 teams, while the NHL collection will debut on October 5. iMedia continues to leverage partnerships with major sports leagues to drive sales.
iMedia Brands, Inc. (NASDAQ: IMBI, IMBIL) has appointed B. Riley Real Estate as an advisor for the sale-leaseback of its properties, including its headquarters and distribution center. This strategic move aims to close in Q4 and unlock cash reserves to reduce leverage. The properties involved total 810,679 square feet, enhancing the company's operational efficiency and financial flexibility. CEO Tim Peterman expressed confidence in B. Riley's support for this initiative, which aligns with iMedia's ongoing efforts to optimize resources in a challenging economic landscape.
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