Earnings Call Summary | Lifetime Brands(LCUT.US) Q1 2024 Earnings Conference
Earnings Call Summary | Lifetime Brands(LCUT.US) Q1 2024 Earnings Conference
The following is a summary of the Lifetime Brands, Inc. (LCUT) Q1 2024 Earnings Call Transcript:
以下是Lifetime Brands, Inc.（LCUT）2024年第一季度财报电话会议记录摘要：
Financial Performance:
财务业绩：
Lifetime Brands reported Q1 2024 net sales of $142.2 million, a decrease of 2.2% year-over-year, primarily due to economic challenges and inventory rationalization.
The company posted a gross margin of 40.5% for the quarter, despite net sales reduction, driven by product mix, new product introductions, and supply chain stability.
Net loss was recorded at $6.3 million in Q1 2024, an improvement from $8.8 million in the same period in 2023.
The company reduced its term loan by nearly $100 million over a year while maintaining high liquidity levels.
For the full year 2024, the company anticipates net sales to be between $690 million and $730 million.
Lifetime Brands报告称，2024年第一季度净销售额为1.422亿美元，同比下降2.2％，这主要是由于经济挑战和库存合理化。
尽管受产品组合、新产品推出和供应链稳定的推动，净销售额有所下降，但该公司公布的本季度毛利率仍为40.5％。
2024年第一季度的净亏损为630万美元，较2023年同期的880万美元有所改善。
该公司在一年内将其定期贷款减少了近1亿美元，同时保持了高流动性水平。
该公司预计，2024年全年的净销售额将在6.9亿美元至7.3亿美元之间。
Business Progress:
业务进展：
Lifetime Brands outperformed the broader market across all its categories despite the market decline.
The company recorded improvements in Asia Pacific markets, while the UK market remained challenging.
A positive outlook was noted for new product introductions, specifically the Dolly Parton and KitchenAid lines.
Through securing last year's ocean freight contract rates, the company improved its supply chain.
Plans are underway for market expansion, operational and expense management to augment both top and bottom lines.
The company plans to exploit the potential of the KitchenAid brand internationally and expand the Dolly line into more retailers in the forthcoming year.
Considering the persistent consumer weakness in the UK market, the company considers shifting its focus from independents and specialists to mainstream retail channels.
The company acknowledges a value gap and is investigating different routes to bridge this gap.
尽管市场下滑，但Lifetime Brands在所有类别中的表现都优于整个市场。
该公司在亚太市场取得了改善，而英国市场仍然充满挑战。
新产品的推出，特别是Dolly Parton和KitchenAid系列的前景乐观。
通过确保去年的海运合同费率，该公司改善了供应链。
市场扩张、运营和费用管理计划正在进行中，以提高收入和利润。
该公司计划在国际上挖掘KitchenAid品牌的潜力，并在来年将Dolly系列扩展到更多的零售商。
考虑到英国市场持续的消费者疲软，该公司考虑将重点从独立企业和专家转移到主流零售渠道。
该公司承认存在价值差距，并正在研究弥合这一差距的不同途径。
More details: Lifetime Brands IR
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