Imedia Brands - IMBIL STOCK NEWS

iMedia Brands, Inc. (NASDAQ: IMBI, IMBIL) reported preliminary Q2 2022 results, estimating net sales of $133 million, a 17% year-over-year increase, but $25 million below guidance. Key revenue impacts include $8 million from Dish Network's non-renewal, $7 million from divestitures, and $6 million due to the Russian conflict. The company anticipates full-year 2022 net sales of approximately $615 million, down from previous guidance. Adjusted EBITDA is projected at $41 million, flat year-over-year. Management plans a sale-leaseback for assets to strengthen the balance sheet.

iMedia Brands, Inc. (NASDAQ: IMBI, IMBIL) has announced an expansion plan for its Christopher & Banks brand, aiming to leverage strong sales growth. C&B reported over $23 million in net sales for Spring 2022, a 79% increase from the previous year, driven by both retail locations and online initiatives. The brand plans to open five new stores annually, targeting a total of thirty stores. Current stores are in locations like Coon Rapids, MN, and Branson, MO. The strategy focuses on profitability, with each store expected to generate at least $2 million in annual sales by the second year.

iMedia Brands, Inc. (NASDAQ: IMBI) will hold a conference call on August 24, 2022, at 8:30 a.m. ET to discuss its second-quarter financial results for the period ending July 30, 2022. A press release will precede the call. Investors can join via U.S. dial-in at 1-877-407-9039 or international dial-in at 1-201-689-8470. The call will be available for replay until September 7, 2022. iMedia Brands operates as an interactive media company, offering various consumer brands and media services, trading on NASDAQ under IMBI.

iMedia Brands has launched over twenty-two new brands on its flagship network, ShopHQ, as of June 28, 2022. This includes celebrity-backed lines like Joyce Giraud Haircare and Orjanic Haircare, focusing on beauty and health products. President Cassie Anliker expressed excitement over the collaboration with talented vendors. ShopHQ operates on multiple platforms, including cable and streaming services. iMedia's stocks trade under ticker IMBI and its bonds as IMBIL, offering an 8.5% interest quarterly.

iMedia Brands reported Q1 2022 net sales of $155 million, a 37% increase year-over-year. The gross margin decreased to 39.7%, down 96 basis points from the previous year. The company faced a net loss of $11.9 million or $(0.55) per share, compared to a loss of $(3.2 million) or $(0.21) per share last year. Adjusted EBITDA rose by 13% to $9.2 million. The customer count grew by 48% to 1,584,000. The outlook for Q2 2022 anticipates net sales of approximately $158 million, a 40% growth, and adjusted EBITDA of $10 million.

iMedia Brands, Inc. (NASDAQ: IMBI, IMBIL) has announced participation in two investor conferences. The 22nd Annual B. Riley Securities Institutional Investor Conference will be held on May 25-26, 2022, with a management fireside chat on May 25 at 8:50 a.m. PT. iMedia will also engage in one-on-one meetings. The 19th Annual Craig-Hallum Institutional Investor Conference will occur virtually on June 1, 2022, where one-on-one meetings with management will be available. iMedia Brands leverages entertainment, ecommerce, and advertising to enhance consumer engagement.

iMedia Brands (NASDAQ: IMBI, IMBIL) revealed its preliminary Q1 2022 financial results, confirming guidance previously set on March 22, 2022. Expected net sales fall between $154 to $157 million, marking a growth of 35% to 38% year over year. Adjusted EBITDA is projected at $8.5 to $9.5 million, up 10% to 11% from the prior year. However, a net loss is anticipated between $12.3 to $11.9 million, compared to a $3.3 million net loss in the same period last year. Full-year sales guidance remains at $675 to $725 million.

iMedia Brands announced a registered direct offering, pricing 4,038,281 common shares at $3.07 each, alongside pre-funded warrants and additional warrants for a total of 7,801,303 shares at an exercise price of $2.94. The offering aims to raise approximately $24 million for debt repayment and general corporate purposes. The closing date is anticipated on May 16, 2022. Notably, $1.95 million is contributed by executives and board members, highlighting insider confidence. The offering is subject to stockholder approval for an increase in authorized shares.

iMedia Brands announces key executive changes to bolster growth, appointing Tom Zielecki as SVP and CFO and promoting Troy Collings to SVP and CIO. Zielecki brings over 30 years of financial expertise, previously managing business units generating $2 billion in sales at Kmart/Sears. Collings, with experience at Target and Cargill, has led vital technology projects since joining iMedia. The company achieved 21% revenue growth year-over-year in fiscal 2021 and anticipates similar growth in 2022, emphasizing the importance of a motivated corporate team.