Update to Previously Issued Guidance for Fiscal Year 2023
The Company now expects net sales between $315 million and $325 million and EBITDA below its previously provided estimate for fiscal year 2023. The Company previously reported that it expected net sales between $330 million and $350 million and low single digit EBITDA margins for fiscal year 2023. The Company's updated guidance reflects sustained pressure on the Company's top line revenue as a result of macroeconomic headwinds continuing to significantly impact consumer discretionary spending.
These expectations are made as of February 12, 2024, and remain subject to substantial uncertainty. Results are unpredictable and may be materially affected by various factors such as the economy, inflation, interest rates, regional labor markets, supply chain constraints and other variables.