Welcome to our dedicated page for Lifetime Brands news (Ticker: LCUT), a resource for investors and traders seeking the latest updates and insights on Lifetime Brands stock.
Lifetime Brands, Inc. (Nasdaq: LCUT) stands as a premier global designer, developer, and marketer of an extensive range of branded consumer products for the home. The company excels in offering superior kitchenware, tabletop items, and other home products through well-respected brand names such as Farberware®, KitchenAid®, Mikasa®, and many more.
Founded in the U.S., Lifetime Brands primarily sells its products on a wholesale basis to leading retailers worldwide. The company also sells directly to consumers via certain brands, including Pfaltzgraff and Fred, through its e-commerce platforms. Its product portfolio spans kitchen tools, gadgets, cutlery, dinnerware, and glassware, with the kitchenware segment generating the majority of its revenue.
The company has been making significant strides in recent times, reflecting its dedication to growth and innovation despite macroeconomic challenges. Notably, Lifetime Brands declared a quarterly cash dividend and successfully restructured its European operations, aiming for enhanced profitability and growth. Additionally, the company extended its Term Loan B facility to August 2027, thereby solidifying its financial footing.
Lifetime Brands reported strong quarterly performance with net sales of $142.2 million for the first quarter of 2024 despite economic headwinds. This included a notable gross margin of 40.5%, driven by disciplined expense management and a favorable product mix. The company's robust portfolio of leading brands and its multi-channel growth strategy position it well for sustained success.
For the future, Lifetime Brands remains focused on advancing its strategic growth initiatives, leveraging its innovation engine, and expanding its market share in both physical retail and e-commerce channels. The company's healthy balance sheet and resilient business model are set to unlock new opportunities and deliver value to shareholders.
Lifetime Brands, Inc. (NASDAQ: LCUT) held its 2021 Annual Meeting of Stockholders on June 24, 2021. Directors were elected to serve until the next meeting, including Jeffrey Siegel and Robert B. Kay. Stockholders ratified Ernst & Young LLP as the independent registered public accounting firm for 2021 and approved the executive compensation on an advisory basis. A quarterly cash dividend of $0.0425 per share was declared, payable on August 16, 2021, to stockholders of record by August 2, 2021.
Lifetime Brands (NasdaqGS: LCUT) will present at the Oppenheimer 21st Annual Consumer Growth and E-Commerce Conference on June 15, 2021, at 4:35 PM ET. CEO Robert Kay and CFO Laurence Winoker will deliver the presentation, which can be accessed via a provided link. The company is a leading global designer and marketer of a wide range of branded home consumer products, including renowned kitchenware and tableware brands. For more information, visit the corporate website at www.lifetimebrands.com.
Lifetime Brands, Inc. (NasdaqGS: LCUT) has launched an updated investor presentation showcasing its successful execution of the "Lifetime Brands 2.0" growth strategy. The revised presentation includes new five-year financial targets: Adjusted EBITDA now set at $120 million, up from $90+ million; Adjusted EBITDA Margin increased to 12% from 10%; Organic Sales Growth projected at 3%, revised from 2%; and Sales Growth with Food Service at 3.5%, down from 4%. CEO Rob Kay emphasized the company's focus on leveraging competitive advantages.
Lifetime Brands, a top designer and marketer of consumer products for the home, will showcase at the Sidoti Virtual Microcap Conference on May 20, 2021. CEO Robert Kay and CFO Laurence Winoker are set to present at 8:30 AM ET. The presentation will cover the company's diverse product range, including well-known kitchenware brands like Farberware and KitchenAid, tableware brands such as Mikasa and Pfaltzgraff, and valuable home solutions. Investors can access the event through the provided link for insights into their strategic direction.
Lifetime Brands, Inc. (LCUT) reported strong Q1 2021 results with a 34.9% increase in consolidated net sales, reaching $195.7 million, compared to $145.1 million a year earlier. The company achieved net income of $3.1 million and an adjusted EBITDA growth of 418%, totaling $13.6 million. The positive performance was supported by enhanced market share and improved international operations. For FY 2021, the company forecasts net sales between $847 million and $856 million, and adjusted income per share between $1.24 and $1.33.
Lifetime Brands, Inc. (NasdaqGS: LCUT) will announce its Q1 2021 financial results on May 6, 2021, at 7:00 a.m. ET. The Company specializes in designing and marketing a wide array of branded consumer products for the home. A conference call will follow at 11:00 a.m. ET, featuring CEO Rob Kay and CFO Larry Winoker, who will discuss the results and address investor inquiries. Interested parties can access the call via dial-in or through a live webcast.
Lifetime Brands, Inc. (NasdaqGS: LCUT) reported strong fourth quarter results for 2020, with consolidated net sales of $249.2 million, a 9.8% increase from the previous year. The company's net income reached $15.2 million, compared to a net loss of $(14.5) million in Q4 2019. Full-year sales rose 4.7% to $769.2 million, supported by growth in core U.S. operations and international markets. The board declared a quarterly dividend of $0.0425 per share, reinforcing confidence in the company's financial recovery and future growth.
Lifetime Brands, Inc. (NasdaqGS: LCUT) will announce its fourth quarter and fiscal year 2020 financial results on March 10, 2021, at 7:00 a.m. ET. A conference call with CEO Rob Kay and CFO Larry Winoker is set for 11:00 a.m. the same day to discuss results and answer investor questions. Investors can join the call by dialing (866) 610-1072 (U.S.) or (973) 935-2840 (International), using Conference ID: 3185706. A live webcast will also be available for those unable to attend the live broadcast.
Lifetime Brands, a global designer and marketer of home consumer products, will present at the Sidoti Virtual Microcap Conference on November 19, 2020, at 1:00 PM ET. CEO Robert Kay and CFO Laurence Winoker will lead the presentation, which can be accessed through the provided link. The company is known for its extensive range of kitchenware, tableware, and home solutions brands, including Farberware, KitchenAid, and Mikasa. For more information, visit lifetimebrands.com.
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