Lifetime Brands, Inc. reports news about its branded consumer products business, which designs, develops and markets kitchenware, tableware, giftware and home solutions used in the home. The company sells products under owned and licensed brands including Farberware, KitchenAid, Mikasa, Pfaltzgraff, S’well, Taylor and BUILT NY, and also provides private label products to retailers worldwide.
Recurring updates cover quarterly financial results, gross margin and operating income trends, pricing actions, tariff and trade-cost effects, cost controls, distribution and supply-chain initiatives, segment performance in the U.S. and International businesses, and brand activity across kitchen tools, home solutions and tabletop categories.
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Lifetime Brands, Inc. (NasdaqGS: LCUT) reported its Q4 and full-year results for 2022, showing a consolidated net sales decline of $48.9 million (19.1%) year-over-year for Q4, totaling $207 million. Full-year net sales decreased by $135.2 million (15.7%) to $727.7 million. Despite inflation and inventory challenges impacting demand, gross margins improved to 35.9% for Q4 from 34.4% in 2021. Net income for Q4 was $3.3 million ($0.15 per diluted share), contrasting with a net loss of $0.6 million in the prior year. The Board declared a quarterly dividend of $0.0425 per share, payable May 15, 2023.