Welcome to our dedicated page for Summer Infant news (Ticker: SUMR), a resource for investors and traders seeking the latest updates and insights on Summer Infant stock.
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SUMR Brands (NASDAQ: SUMR) reported Q1 2020 net sales of $40.3 million, down from $42.5 million year-over-year, primarily due to COVID-19 influences. The company achieved adjusted EBITDA of $1.8 million, up from $1.5 million in the prior year, aided by a 13.1% decline in G&A expenses to $8.1 million. Operating cash flow improved to $4.9 million, and debt reduced by $4.1 million to $44.5 million. Successful cost-saving measures included subleasing part of a California warehouse, saving over $1 million annually. CFO Paul Francese will retire in June, with Ed Schwartz stepping in as his successor.