Core Viewpoint - Lifetime Brands, Inc. is relocating its East Coast distribution center to a new facility in Hagerstown, MD, which will increase its distribution capacity by 46% to 1.027 million square feet, expected to be fully operational by 2026 [1][3][4] Group 1: Infrastructure and Capacity Expansion - The new Hagerstown distribution center will serve as the primary U.S. East Coast distribution hub, relocating from Robbinsville, NJ, and will add 327,000 square feet of capacity [1][3] - The construction of the Hagerstown Facility is anticipated to be completed by the second quarter of 2026 [1] - The facility is part of a broader strategy to modernize operations and support long-term growth, including both organic and inorganic opportunities [2][4] Group 2: Operational Efficiency and Cost Management - The new distribution center will integrate a new warehouse management system aimed at enhancing service and operational efficiency [2] - The relocation is designed to maximize logistics and freight efficiencies, addressing the evolving market demands and customer expectations [3][4] - The company has negotiated tax abatements and incentives from the State of Maryland and Washington County, which will help mitigate relocation costs and future distribution expenses [4][6] Group 3: Strategic Importance - The relocation is viewed as a critical step in executing the company's multi-year growth initiatives and maintaining operational excellence [3][4] - The strategic move is intended to ensure competitiveness in the market and adapt to changing consumer and retailer shopping preferences [4]

~ Optimizes Infrastructure for U.S. Business, Increasing Capacity by 46% to 1.027 Million Square Feet ~ ~ Relocating East Coast Distribution Center to Built to Suit Facility in Hagerstown, MD ~ ~ Expected to be Fully Operational in 2026 ~ GARDEN CITY, N.Y., Jan. 29, 2025 (GLOBE NEWSWIRE) -- Lifetime Brands, Inc. (NasdaqGS: LCUT) (“Lifetime” or the “Company”), a leading global designer, developer and marketer of a broad range of branded consumer products used in the home, today announced its plan to construc ...

Core Insights - Lifetime Brands, Inc. has appointed Jeffrey Evans as an independent director to its Board of Directors, effective immediately, to enhance its go-to-market and merchandising strategies [1][2] Company Overview - Lifetime Brands is a leading global designer, developer, and marketer of a wide range of branded consumer products used in the home, including kitchenware, tableware, and home solutions [3] Leadership Appointment - Jeffrey Evans brings over three decades of retail and consumer leadership experience, having previously served as President and Chief Merchandising Officer of At Home and held senior roles at Walmart [2] - His expertise in developing merchandising strategies for mass market and warehouse club customers is expected to provide valuable insights for the company's growth initiatives [2] Strategic Focus - The company aims to leverage Evans' experience in digital and omnichannel strategies to enhance its product innovation and go-to-market approaches, particularly in the context of increasing online commerce [2] - Evans expressed enthusiasm about contributing to the company's efforts to access additional market share and unlock shareholder value [2]

Company Overview - Lifetime Brands, Inc. (NASDAQ: LCUT) operates a diverse portfolio of brands and maintains connections with major retailers, stores, and merchants [1] - Recent investments in new manufacturing capacity and hiring initiatives are expected to enhance net sales growth [1] Investment Insights - The company is viewed favorably for its potential in value investments, particularly for trading at approximately 10 times earnings and offering dividend yield [1] - The focus is primarily on small-cap and mid-cap companies across various regions including the United States, Canada, South America, the UK, France, and Germany [1]

Financial Data and Key Metrics Changes - For Q3 2024, the company reported net sales of $183.8 million, a decrease from $191.7 million in the same period last year, reflecting a 4.1% decline [8][50] - Net income for Q3 2024 was $300,000 or $0.02 per diluted share, down from $4.2 million or $0.20 per diluted share in Q3 2023 [47] - Adjusted net income for Q3 2024 was $4.5 million or $0.21 per diluted share, compared to $7.7 million or $0.36 per diluted share in 2023 [48] - Adjusted EBITDA for the trailing 12-month period ended September 30, 2024, was $53.9 million [48] Business Line Data and Key Metrics Changes - U.S. segment sales decreased by 5.1% to $170.2 million, impacted by end market softness and retailer de-stocking [50] - E-commerce sales increased to $34.4 million, representing 18.7% of total sales year-over-year, with U.S. e-commerce sales growing by 10.7% [15][16] - International segment sales increased by 10.9% to $13.6 million, driven by new placements at large retailers [51][18] Market Data and Key Metrics Changes - The company experienced weakness in the seasonal back-to-school consumer demand, but anticipates a rebound during the holiday season [13] - The food service market has seen a downturn, leading to fewer shipments than anticipated [12][28] - The UK end markets remain soft, but the company is gaining traction with national retailers and grocers [21] Company Strategy and Development Direction - The company is focusing on restoring international business profitability, which could add an incremental $10 million in annual EBITDA compared to fiscal year 2023 [20] - The company is actively pursuing M&A opportunities in core business areas and new product adjacencies, while maintaining financial discipline [31][34] - A strategic goal is to expand the Dolly Parton brand presence, with expectations of exceeding $10 million in revenue from this program [25][26] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism for the holiday season, expecting it to align with forecasted increases by major retailers [13] - The company anticipates full-year sales of $680 million to $700 million, reflecting a slight decrease from $687 million in 2023 [14][60] - Management highlighted the importance of consumer confidence and demand for long-term growth, particularly in the food service sector [73][75] Other Important Information - The company has taken defensive operational measures by increasing inventory levels to mitigate risks from potential tariff increases [41][43] - The company recorded one-time acquisition-related expenses of $0.2 million in the quarter related to a potential acquisition target that did not materialize [33] Q&A Session Summary Question: What were the main reasons for the Q3 sales shortfalls? - Management indicated that the primary reasons were softness in the mass channel and delayed shipments from the Dollar General program [62] Question: Can you elaborate on the distribution expenses increase? - Management noted that approximately $2 million of the $3 million year-over-year increase in distribution expenses was non-recurring [66] Question: What are the expectations for the international segment in the new guidance? - Management stated that while the international segment will not be profitable this year, it is expected to improve year-over-year [67] Question: What drives the anticipated sales growth in Q4? - Management explained that the growth is largely due to timing, with several programs shifting from Q3 to Q4 [70][71] Question: What is needed for sustainable long-term growth? - Management emphasized that consumer confidence and demand are critical, along with potential economic stimulus [75]

Lifetime Brands (LCUT) came out with quarterly earnings of $0.21 per share, missing the Zacks Consensus Estimate of $0.38 per share. This compares to earnings of $0.36 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -44.74%. A quarter ago, it was expected that this kitchen products company would post a loss of $0.02 per share when it actually produced a loss of $0.03, delivering a surprise of -50%.Over the last four quarters, ...

Table of Contents __________________________ __________________________ __________________________ __________________________ Securities registered pursuant to Section 12(b) of the Act: Title of each classTrading Symbol(s)Name of each exchange on which registered Common Stock, $.01 par value LCUT The Nasdaq Global Select Market 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 ...

Exhibit 99.1 Lifetime Brands, Inc. Reports Third Quarter 2024 Financial Results Declares Regular Quarterly Dividend GARDEN CITY, NY, November 7, 2024 – Lifetime Brands, Inc. (NasdaqGS: LCUT), a leading global designer, developer and marketer of a broad range of branded consumer products, today reported its financial results for the quarter ended September 30, 2024. Rob Kay, Lifetime's Chief Executive Officer, commented, "While we are disappointed that our third quarter results did not meet our internal proj ...

Declares Regular Quarterly Dividend GARDEN CITY, N.Y., Nov. 07, 2024 (GLOBE NEWSWIRE) -- Lifetime Brands, Inc. (NasdaqGS: LCUT), a leading global designer, developer and marketer of a broad range of branded consumer products, today reported its financial results for the quarter ended September 30, 2024. Rob Kay, Lifetime’s Chief Executive Officer, commented, “While we are disappointed that our third quarter results did not meet our internal projections due to soft demand in end markets combined with delayed ...

GARDEN CITY, N.Y., Oct. 31, 2024 (GLOBE NEWSWIRE) -- Lifetime Brands, Inc. (NasdaqGS: LCUT) (the “Company”), a leading global designer, developer and marketer of a broad range of branded consumer products, will release its third quarter financial results after the market close on Thursday, November 7, 2024. The Company will host a conference call the following day, on Friday, November 8, 2024 at 8:30 a.m. Eastern Time. The live conference call can be accessed by dialing 1-877-451-6152 (USA) or 1-201-389-087 ...