Margaritaville Collection Launch
The new Margaritaville license collection represents a significant organic growth opportunity, supported by a 14,000 square foot showroom experience and 55 committed retail galleries across the U.S. Initial purchase commitments are historically high, expected to drive meaningful incremental revenue.
Cost Reduction Achievements
Over $25 million in annualized savings have been achieved through cost-reduction measures, positioning the company for profitability even in a challenging environment.
Share Repurchase and Dividend Recalibration
A new share repurchase program has been authorized up to $5 million, and the annual dividend has been recalibrated to $0.46 per share to enhance long-term shareholder value.
Improved Gross Margin
Consolidated gross margin improved to 25% for the nine-month period, up from 23.9% in the prior year, reflecting meaningful improvements in Domestic Upholstery.