Lifetime Brands ( (LCUT) ) has released its Q1 earnings. Here is a breakdown of the information Lifetime Brands presented to its investors.
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Lifetime Brands, Inc. is a global leader in designing, developing, and marketing a wide range of branded consumer products for the home, operating primarily in the kitchenware and tableware sectors.
In its latest earnings report, Lifetime Brands announced first-quarter 2025 financial results, revealing a slight decline in sales compared to the previous year, with a focus on strategic adjustments to navigate economic challenges.
Key financial metrics showed consolidated net sales of $140.1 million, a decrease of 1.5% from the same period in 2024. The gross margin also declined to 36.1% from 40.5% last year. Despite a net loss of $4.2 million, the company managed to reduce selling, general, and administrative expenses by 20.3%, aided by a net legal settlement gain. Lifetime Brands is actively managing its cost structure and plans to diversify its manufacturing base away from China to mitigate tariff impacts.
Looking ahead, Lifetime Brands remains cautious due to ongoing economic uncertainties and has refrained from providing full-year 2025 financial guidance. However, the company is optimistic about its Project Concord, aimed at improving international operations, and believes its strategic positioning will secure its future growth.