Strong E-commerce and Dollar Channel Performance
Despite declines in the mass channel, Lifetime Brands achieved strong gains in e-commerce, the dollar channel, and clubs driven by new product introductions and good point of sale sell-through.
Progress in Geographical Diversification
Lifetime Brands is on track to complete the relocation of 80% of its manufacturing out of China by the end of 2025, ramping up sourcing from Southeast Asia and North America.
Reduced Net Loss
Net loss for the first quarter of 2025 was reduced to $4.2 million compared to a loss of $6.3 million in the first quarter of 2024.
SG&A Expense Reduction
Selling, general, and administrative expenses decreased by 20.3% to $31.5 million, driven by lower employee costs and legal expenses.
Improvement in International Operations
The turnaround of international operations remains on track, with operational results improving due to implemented actions, despite flat revenue year-over-year.