Welcome to our dedicated page for Xcel Brands news (Ticker: XELB), a resource for investors and traders seeking the latest updates and insights on Xcel Brands stock.
Xcel Brands Inc. develops and manages consumer brands through licensing, design, merchandising, sourcing, marketing and brand-development agreements. The company’s updates center on influencer-led brands built for social commerce, livestream shopping and television retail channels, including product collections for home, kitchenware, apparel, accessories and related lifestyle categories.
Recurring XELB news covers quarterly and annual results, brand launches on HSN and QVC, partnerships tied to Longaberger and other lifestyle properties, portfolio changes such as the sale of the Judith Ripka fine-jewelry brand, and capital actions including private placements and other financing arrangements. Coverage also reflects the company’s mix of legacy brands and new influencer-driven brand programs.
Xcel Brands reported impressive second quarter results for 2021, with net product sales reaching $4.5 million, a 700% increase from Q2 2020, and a 30% rise from Q1 2021. Total revenue totaled $10.8 million, up $5.7 million year-over-year. Licensing revenue also climbed to $6.3 million, marking a 38% year-over-year growth. However, the company still posted a net loss of $1.6 million, equivalent to ($0.08) per share. The acquisition of the LOGO Lori Goldstein brand contributed significantly to growth, and adjusted EBITDA for the quarter was approximately $0.9 million.
Xcel Brands, Inc. (NASDAQ: XELB) will report its second quarter 2021 financial results on August 12, 2021, after market close. The company will host a conference call for investors at 5:00 p.m. Eastern Time on the same day. Interested parties can access the live webcast through the Investor Relations section of Xcel's website or join via phone. Xcel specializes in the design, production, and marketing of branded consumer products, with a notable track record generating over $3 billion in retail sales through live streaming on TV.
Longaberger, a renowned American home goods brand, will host its inaugural Homecoming Event on July 23, 2021, in Columbus, Ohio. This gathering celebrates the brand's 125th anniversary and the first anniversary of its acquisition by XCEL Brands. Attendees can explore the venue from 5:30 PM EST, enjoying hors d'oeuvres and exclusive product access. A live-streaming showcase of Longaberger's new jewelry collection will follow at 9:30 PM EST. Virtual attendance options are available to engage a broader audience.
Xcel Brands (NASDAQ: XELB) will join the Russell Microcap® Index effective June 28, following the 2021 Russell indexes annual reconstitution. This inclusion reflects Xcel's recovery from the impacts of the COVID-19 pandemic on the apparel sector. CEO Robert W. D'Loren highlighted the company's strong brands and capital position, noting progress in expanding their business across distribution channels. Membership in the Russell Microcap Index grants broader visibility to investors, given that approximately $10.6 trillion in assets benchmark against Russell’s U.S. indexes.
Xcel Brands (NASDAQ: XELB) has appointed Heather Bogen as President of Wholesale Apparel, effective June 1, 2021. Bogen comes with nearly 30 years of experience in the fashion industry, having held leadership roles at prominent companies such as G-III Apparel Group and LVMH. CEO Robert W. D'Loren expressed confidence in her ability to drive sales and maximize opportunities for Xcel's brands. Bogen's role will focus on enhancing wholesale sales and implementing innovative strategies to support the company's growth in the apparel sector.
Xcel Brands, Inc. reported first-quarter 2021 net product sales of $3.5 million, a 35% rebound from the previous quarter. However, the company faced a net loss of $2.5 million (or ($0.13) per share) on a GAAP basis.
Adjusted EBITDA stood at $(0.9) million. Total revenue decreased to $7.8 million, down $1.7 million year-over-year, primarily due to the discontinuation of the H Halston brand licensing. Despite challenges, gross profit margins improved from 38% to 48% for product sales. The company anticipates growth in the second half of 2021.
Xcel Brands, Inc. (NASDAQ: XELB) will release its first quarter 2021 financial results on May 17, 2021, after market closure. A conference call for investors will be held at 5:00 p.m. ET on the same day, with live streaming available on Xcel's Investor Relations website. The company, founded in 2011, specializes in media and consumer products, generating over $3 billion in retail sales through interactive television. Xcel owns several notable brands including Isaac Mizrahi and Halston, aiming to integrate shopping with entertainment.
Xcel Brands, Inc. (NASDAQ: XELB) announced on April 16, 2021, that it received a delinquency notification from Nasdaq for failing to file its Annual Report on Form 10-K for the fiscal year ended December 31, 2020. The notification does not immediately affect its stock listing. The company had to postpone its audit and financial results announcement. Nasdaq requires Xcel to submit a compliance plan within 60 days, which could grant an extension of up to 180 days to regain compliance. Xcel aims to file the 10-K report within the 60-day window.
Xcel Brands, Inc. (NASDAQ: XELB) reported a 20% increase in fourth quarter net product sales to $2.6 million, despite a net loss of $10.4 million or ($0.54) per share on a GAAP basis. For 2020, total revenue decreased to $29.4 million, down $12.3 million from the previous year, attributed mainly to the COVID-19 pandemic. However, gross profit margins improved from 75% to 81%. The company recorded a $13 million impairment charge related to the Judith Ripka brand. Adjusted EBITDA was $0.2 million for Q4 and $4.1 million for FY 2020.
Xcel Brands, Inc. (NASDAQ: XELB) is set to release its fourth quarter 2020 financial results on April 21, 2021, after market close. The company will also host a conference call for the investment community at 5:00 p.m. Eastern Time that same day. Interested participants can access the call via a live webcast on Xcel's Investor Relations page or by dialing in directly. Xcel Brands operates in the media and consumer products space, generating over $3 billion in retail sales through innovative sales strategies that integrate live streaming and various retail channels.