Lifetime Brands reports Q1 adjusted EPS (25c) vs (15c) last year

Reports Q1 revenue $140.085M vs $142.242M last year. Rob Kay, Lifetime’s Chief Executive Officer, commented, “Our first quarter sales were slightly down from the 2024 comparable period, however we saw a decrease in gross margin largely due to customer and product mix. The topline was impacted by the mass channel where we saw declines across the majority of product categories, which is reflective of the entire product category. This was caused by a combination of slower retail sales and over inventory at key mass retailers towards the end of the fourth quarter coupled with a slowdown in ordering patterns in response to tariff fueled trade concerns whereby retailers slowed incentives as a hedge against future anticipated challenges related to higher priced goods resulting from tariffs. Overall, sales for the quarter were in line with expectations as the declines in mass were offset by gains in e-commerce, the dollar channel and in the club channel. In response to a slowdown in consumer demand related to the macro environment, we have tightened controls of variable expenses within our control which will be impactful in the second half of this year.