Category: Consumer

Saga Communications (SGA) – Business Stabilizes In Q3

Posted on by slightbourne@noblecapitalmarkets.com


Friday, November 07, 2025

Saga Communications, Inc. is a broadcast company whose business is primarily devoted to acquiring, developing and operating radio stations. Saga currently owns or operates broadcast properties in 27 markets, including 79 FM and 33 AM radio stations. Saga’s strategy is to operate top billing radio stations in mid sized markets, defined as markets ranked (by market revenues) from 20 to 200. Saga’s radio stations employ a myriad of programming formats, including Active Rock, Adult Album Alternative, Adult Contemporary, Country, Classic Country, Classic Hits, Classic Rock, Contemporary Hits Radio, News/Talk, Oldies and Urban Contemporary. In operating its stations, Saga concentrates on the development of strong decentralized local management, which is responsible for the day-to-day operations of the stations in their market area and is compensated based on their financial performance as well as other performance factors that are deemed to effect the long-term ability of the stations to achieve financial objectives. Saga began operations in 1986 and became a publicly traded company in December 1992. The stock trades on NASDAQ under the ticker symbol “SGA”.

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

In-line quarter. Third quarter revenue of $28.2 million was in line with our $28.3 million estimate, representing a modest 1.8% decline against a Political advertising infused prior year period. Adj. EBITDA, excluding an extraordinary music licensing settlement expense, was $3.3 million, in line with our $3.4 million estimate as illustrated in Figure #1 Q3 Results. 

Q3 revenues stabilize. Excluding Political advertising, the strength in Digital advertising more than offset the weakness in its core broadcast advertising. Digital advertising was up roughly 40% in the quarter. Management stated that Digital advertising continues with strong momentum into the fourth quarter, pacing a strong 32%. 


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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Release – The ONE Group Hospitality, Inc. to Host Third Quarter 2025 Earnings Conference Call and Webcast at 4:30 PM ET on November 6, 2025

Posted on by aweinsoff@channelchek.com

Research News and Market Data on STKS

 Download as PDF

November 05, 2025

DENVER–(BUSINESS WIRE)– The ONE Group Hospitality, Inc. (“The ONE Group” or the “Company”) (Nasdaq: STKS) today announced that Emanuel “Manny” Hilario, President and Chief Executive Officer, and Nicole Thaung, Chief Financial Officer, will host a conference call and webcast to discuss third quarter 2025 financial results on Thursday, November 6, 2025 at 4:30 PM ET. A press release containing the third quarter 2025 financial results will be issued after market close that same afternoon.

The conference call can be accessed live over the phone by dialing 203-518-9708. To enter the call, the conference ID is ONEG3Q25. A replay will be available after the call and can be accessed by dialing 412-317-6671; the passcode is 11159955. The replay will be available until Thursday, November 20, 2025.

The webcast can be accessed from the Investor Relations tab of The ONE Group’s website at http://www.togrp.com/ under “News / Events”.

About The ONE Group

The ONE Group Hospitality, Inc. (Nasdaq: STKS) is an international restaurant company that develops and operates upscale and polished casual, high-energy restaurants and lounges and provides hospitality management services for hotels, casinos and other high-end venues both in the U.S. and internationally. The ONE Group is recognized as one of “America’s Greatest Companies” (NEWSWEEK, 2025) and Benihana honored as Forbes Best Brands for Value . The ONE Group’s focus is to be the global leader in Vibe Dining, and its primary restaurant brands and operations are:

  • STK, a modern twist on the American steakhouse concept with restaurants in major metropolitan cities in the U.S., Europe and the Middle East, featuring premium steaks, seafood and specialty cocktails in an energetic upscale atmosphere.
  • Benihana, an interactive dining destination with highly skilled chefs preparing food right in front of guests and served in an energetic atmosphere alongside fresh sushi and innovative cocktails. The Company franchises Benihanas in the U.S., Caribbean, Central America, and South America.
  • Samurai, an interactive dining experience located in sunny Miami, FL, provides a distinctive dining experience where skilled personal chefs masterfully perform the ancient art of teppanyaki right before your eyes.
  • Kona Grill, a polished casual, bar-centric grill concept with restaurants in the U.S., featuring American favorites, award-winning sushi, and specialty cocktails in an upscale casual atmosphere.
  • Salt Water Social is your gateway to the seven seas, featuring an array of signature and unique fresh seafood items, complemented by the highest quality beef dishes and elegant, delicious cocktails.
  • Benihana Express, a small footprint casual concept showcasing the best of Benihana but without teppanyaki tables or bar.
  • RA Sushi, a Japanese cuisine concept that offers a fun-filled, bar-forward, upbeat, and vibrant dining atmosphere with restaurants in the U.S. anchored by creative sushi, inventive drinks, and outstanding service.
  • ONE Hospitality, The ONE Group’s food and beverage hospitality services business develops, manages and operates premier restaurants and turnkey food and beverage services within high-end hotels and casinos currently operating venues in the U.S. and Europe.

Additional information about The ONE Group can be found at www.togrp.com.

Investors:
ICR
Michelle Michalski or Raphael Gross
(646) 277-1224
Michelle.Michalski@icrinc.com

Media:
ICR
Judy Lee
(646) 277-1242
judy.lee@icrinc.com

Source: The ONE Group Hospitality, Inc.

Released November 5, 2025

Release – BODi to Power the Future of Extreme Home Fitness and Performance with the Launch of “P90X Generation Next” Set to Debut 90 Days From Today

Posted on by aweinsoff@channelchek.com

Research News and Market Data on BODI

November 5, 2025

Led by new BODi Super Trainer Waz Ashayer, P90X Generation Next will reignite the most popular extreme home fitness program in February 2026

ASRV, Core Home Fitness, Hyperice, and Reebok bring next-level innovation to the program

EL SEGUNDO, Calif.–(BUSINESS WIRE)– BODi (NASDAQ: BODI), today announced the highly anticipated new installment of one of the most transformative fitness programs ever created, P90X, with the launch of “P90X Generation Next,” scheduled for release on February 3, 2026. Originally developed by Super Trainer Tony Horton, this next chapter of P90X will be led by Waz Ashayer, one of Equinox Fitness Club’s most dynamic and in-demand lead instructors, where he has built a reputation for creating unparalleled training experiences that consistently draw sold-out classes and inspire a dedicated community. His leadership and intensity marks an exciting new era for the iconic P90X brand.

"P90X Generation Next" will be led by Waz Ashayer. His leadership marks an exciting new era for the iconic P90X brand.

“P90X Generation Next” will be led by Waz Ashayer. His leadership marks an exciting new era for the iconic P90X brand.

“P90X remains one of the most powerful names in fitness, and with ‘P90X Generation Next,’ we’ve redesigned it from the bottom up to use the latest in functional program design for extreme transformation and performance,” said Carl Daikeler, CEO and co-founder of BODi. “It will have the intensity and grit that made P90X a cultural phenomenon, now with the latest science-backed methods to help people achieve results they never thought possible. With Waz Ashayer at the helm, we’re introducing the next generation to true extreme home fitness.”

Before stepping into his leading role at Equinox Fitness Club, Ashayer built his foundation in London at the prestigious boxing gym BXR, where he quickly earned recognition for his ability to drive peak performance. He went on to manage group fitness at Equinox in London, sharpening his leadership in one of the industry’s most competitive arenas. Expanding his reach to the U.S., he launched Raise x Takeoff, a series of high-intensity bootcamps in New York City and the Hamptons, solidifying his reputation as a fitness innovator with a passionate following. Today, Ashayer’s proven expertise in group training and his ability to motivate at scale make him the perfect driving force behind this new 90-day program, “P90X Generation Next”.

“Fitness has always been about unlocking inner strength and pushing past limits,” said Waz Ashayer, BODi Super Trainer and lead for P90X Generation Next. “Carrying the P90X legacy forward is an incredible honor. I’m dedicated to inspiring people to exceed their own expectations because this program isn’t just about workouts, it’s about igniting the fire of transformation.”

“P90X Generation Next” will be complemented by a roster of distinguished brand partners that are at the forefront of performance and innovation, including ASRV, Core Home Fitness, Hyperice and Reebok. Together, these partnerships underscore the P90X promise to deliver the most complete extreme home fitness experience available.

BODi will also debut a line of P90X supplements and nutrition products, engineered for fast-acting performance and to accelerate results. Developed by experts and backed by the latest innovations in performance nutrition science, the lineup is created to help high achievers get the most from their training. The full assortment will be available on BODi.com and select retail partners in early 2026.

Consumers can get ready to start “P90X Generation Next” in early 2026 by subscribing to BODi now and exploring the original P90X programs or any of BODi’s 140+ step-by-step workout and nutrition plans. BODi subscriptions start at $19 per month or $179 annually. For more information and to subscribe, go to BODi.com.

About BODi and The Beachbody Company

BODi, formerly known as Beachbody, has been a pioneer in structured, step-by-step home fitness and nutrition programs for nearly three decades, with iconic programs like P90X, INSANITY, 21 Day Fix and the original premium superfood supplement, Shakeology. Since its inception, BODi has helped more than 30 million people reach life-changing results. Today, BODi continues to evolve with a simple mission: help people achieve their goals and lead healthy, fulfilling lives, especially busy, time-strapped people who want to fit healthy habits into everyday life with proven solutions. The BODi community empowers millions to stay motivated and accountable, supporting healthy weight management, improved metabolic function, increased mental and physical well-being, better sleep, as well as evidence-based habits that enhance healthspan and longevity.

To subscribe and shop, visit BODi.com. For company and investor information, please visit TheBeachbodyCompany.com.

Media Relations:
BODi@aiir.agency

Investor Relations:
IR@BODi.com

Source: BODi

Release – The ODP Corporation Announces Third Quarter 2025 Results

Posted on by aweinsoff@channelchek.com

Research News and Market Data on ODP

PDF Version

Third Quarter Revenue of $1.6 Billion with GAAP EPS of $0.72; Adjusted EPS of $1.14

GAAP Operating Income of $34 Million; Net Income of $23 Million; Operating Cash Flow of $90 Million

Adjusted EBITDA of $62 Million; Adjusted Free Cash Flow of $89 Million

Previously Announced Transaction Expected to Close by Year-End 2025

BOCA RATON, Fla.–(BUSINESS WIRE)–Nov. 5, 2025– The ODP Corporation (“ODP,” or the “Company”) (NASDAQ:ODP), a leading provider of products, services, and technology solutions to businesses and consumers, today announced results for the third quarter ended September 27, 2025.

Consolidated (in millions, except per share amounts)3Q253Q24YTD25YTD24
Selected GAAP and Non-GAAP measures:    
Sales$1,625$1,780$4,911$5,367
Sales change from prior year period(9)% (8)% 
Operating income$34$102$11$143
Adjusted operating income (1)$38$41$117$141
Net income (loss) from continuing operations$23$68$(6)$95
Diluted earnings (loss) per share from continuing operations$0.72$2.04$(0.21)$2.65
Adjusted net income from continuing operations (1)$36$24$83$94
Adjusted earnings per share from continuing operations
(fully diluted) (1)		$1.14$0.71$2.71$2.61
Adjusted EBITDA (1)$62$62$184$210
Operating Cash Flow from continuing operations$90$81$163$125
Free Cash Flow (2)$78$58$118$51
Adjusted Free Cash Flow (3)$89$68$147$90

Third Quarter 2025 Summary(1)(3)

  • Total reported sales of $1.6 billion, down 9% versus the prior year period on a reported basis. The decrease in reported sales is largely related to lower sales in its Office Depot Division, primarily due to 63 fewer retail locations in service compared to the previous year and reduced retail and online consumer traffic, as well as lower sales in its ODP Business Solutions Division.
  • GAAP operating income of $34 million and net income from continuing operations of $23 million, or $0.72 per diluted share, versus $102 million and $68 million, respectively, or $2.04 per diluted share, in the prior year period
  • Adjusted operating income of $38 million, compared to $41 million in the third quarter of 2024; adjusted EBITDA of $62 million in both the third quarter of 2025 and 2024. Adjusted operating income in the third quarter of 2024 excludes $70 million of income related to legal matter monetization where the Company was engaged in legal proceedings as a plaintiff
  • Adjusted net income from continuing operations of $36 million, or adjusted diluted earnings per share from continuing operations of $1.14, versus $24 million or $0.71, respectively, in the prior year period. Adjusted net income from continuing operations in the third quarter of 2024 excludes $70 million of income, or $51 million net of tax, related to legal matter monetization where the Company was engaged in legal proceedings as a plaintiff
  • Operating cash flow from continuing operations of $90 million and adjusted free cash flow of $89 million, versus $81 million and $68 million, respectively, in the prior year period
  • $730 million of total available liquidity including $182 million in cash and cash equivalents at quarter end

Consolidated Results

Reported (GAAP) Results
Total reported sales for the third quarter of 2025 were $1.6 billion, a 9% decrease compared to the same period last year, primarily reflecting lower sales in both the consumer and business-to-business (B2B) divisions. The decline in the consumer division, Office Depot, was mainly driven by 63 fewer stores in operation due to planned closures, as well as reduced retail and online consumer traffic. On a comparable store basis, sales declined 7%, representing an improvement over the 10% decrease in the prior year period. In the ODP Business Solutions Division, sales declined 6% year-over-year, primarily reflecting ongoing macroeconomic headwinds and softer enterprise customer spending. Veyer continued to deliver strong logistical support for both the ODP Business Solutions and Office Depot divisions despite lower internal sales volume, while also advancing its growth strategy by providing supply chain and procurement solutions to third-party customers and driving increases in external revenue.

The Company reported GAAP operating income of $34 million in the third quarter of 2025, down compared to $102 million in the prior year period. Operating results in the third quarter of 2025 included $4 million of charges primarily related to $8 million in transaction and integration expenses associated with the Merger (as defined below), $5 million in non-cash asset impairments of operating lease right-of-use (“ROU”) assets associated with the Company’s retail store locations, $2 million related to the impairment of operating lease ROU assets associated with the Company’s supply chain facilities, and $1 million related to the impairment of fixed assets. These charges were partially offset by $12 million in restructuring income primarily associated with the Optimize for Growth restructuring plan. Net income from continuing operations was $23 million, or $0.72 per diluted share in the third quarter of 2025, down compared to net income from continuing operations of $68 million, or $2.04 per diluted share in the third quarter of 2024.

Adjusted (non-GAAP) Results(1)
Adjusted results for the third quarter of 2025 exclude charges and credits totaling $4 million as described above and the associated tax impacts.

  • Third quarter 2025 adjusted EBITDA was $62 million, flat with the prior year period. This included adjusted depreciation and amortization of $24 million in both the third quarter of 2025 and 2024
  • Third quarter 2025 adjusted operating income was $38 million, down compared to $41 million in the third quarter of 2024
  • Third quarter 2025 adjusted net income from continuing operations was $36 million, or $1.14 per diluted share, compared to $24 million, or $0.71 per diluted share, in the third quarter of 2024, an increase of 61% on a per share basis

Division Results

ODP Business Solutions Division
Leading B2B distribution solutions provider serving small, medium and enterprise level companies with an annual trailing-twelve-month revenue of $3.4 billion.

  • Reported sales for the third quarter of 2025 were $862 million, a decrease of 6% year-over-year. This result reflects an improvement in revenue trends compared to the prior year period, despite ongoing macroeconomic challenges and continued softness in enterprise demand. Year-over-year revenue trends improved by about 200 basis points, driven by ODP Business Solutions’ success in onboarding new customers, executing targeted sales initiatives, and generating incremental growth in hospitality sector
  • Total adjacency category sales, including cleaning and breakroom, furniture, technology, and copy and print, were 45% of total ODP Business Solutions’ sales, representing an increase over the same period last year
  • Drove accelerated sales growth in Operating, Supplies & Equipment (OS&E) categories within the hospitality business and expanded presence in new markets helping drive increased demand for traditional product categories. Onboarded more than 600 new hotel properties as customers under the Company’s existing hospitality agreement. Made meaningful progress on potential new agreements with several leading hospitality management companies
  • Operating income was $14 million in the third quarter of 2025, down compared to $28 million in the same period last year on a reported basis

Office Depot Division
Leading provider of retail consumer and small business products and services distributed via Office Depot and OfficeMax retail locations and eCommerce presence.

  • Reported sales were $749 million in the third quarter of 2025, down 13% year-over-year, reflecting an improvement over prior year trends. Sales were impacted by 63 fewer retail locations due to planned store closures, lower demand in certain product categories, and reduced online sales. Comparable store sales declined 7%, an improvement versus the 10% decrease in the prior year period, as targeted, profitable sales strategies gained traction. The Company closed 12 retail stores during the quarter, ending with 822 retail locations
  • Store and online traffic were lower year-over-year due to macroeconomic factors. However, targeted sales promotions resulted in higher average order volumes and sales per shopper, which supported top-line results and margins
  • Operating income was $31 million in the third quarter of 2025, compared to $23 million during the same period last year on a reported basis. As a percentage of sales, operating income was 4%, increase of 140 basis points from the same period last year

Veyer Division
Nationwide supply chain, distribution, procurement and global sourcing operation supporting Office Depot and ODP Business Solutions, as well as third-party customers. Veyer’s assets and capabilities include 7 million square feet of infrastructure through a network of distribution centers, cross-docks, and other facilities throughout the United States; a global sourcing presence in Asia; and business next-day delivery capabilities to 98.5% of U.S. population.

  • In the third quarter of 2025, Veyer provided support for its internal customers, ODP Business Solutions and Office Depot, as well as its third-party customers, generating reported sales of $1.1 billion
  • Reported operating income was $12 million in the third quarter of 2025, compared to $9 million in the prior year period
  • In the third quarter of 2025, sales generated from third-party customers increased by 64% compared to the same period last year, resulting in sales of $23 million. EBITDA generated from third-party customers was $7 million in the quarter

Balance Sheet and Cash Flow

As of September 27, 2025, ODP had total available liquidity of $730 million, consisting of $182 million in cash and cash equivalents and $548 million of available credit under the Fourth Amended Credit Agreement. Total debt was $148 million.

For the third quarter of 2025, cash provided by operating activities of continuing operations increased to $90 million, which included $10 million in restructuring spend, compared to $81 million in the third quarter of the prior year, which included $10 million in restructuring spend. The year-over-year increase in operating cash flow is primarily related to operational discipline including strong cash conversion, as well as prudent working capital management helping to offset the impact of lower sales.

Capital expenditures were $12 million in the third quarter of 2025 versus $22 million in the prior year period, as the Company continued to prioritize capital investments towards B2B growth opportunities supporting its supply chain operations, distribution network, and digital capabilities. Adjusted Free Cash Flow(3) was $89 million in the third quarter of 2025, up compared to $68 million in the prior year period.

“Optimize for Growth” B2B Revenue Acceleration Plan

In the third quarter of 2025, the Company advanced its “Optimize for Growth” restructuring plan, an initiative aimed at reducing fixed-cost infrastructure while leveraging core strengths to accelerate growth in B2B market segments. This includes expansion into new enterprise verticals such as hospitality, healthcare, and other adjacent sectors.

As part of this plan in the third quarter of 2025, the Company recognized $13 million of restructuring income primarily related to a $17 million gain on disposal of an owned distribution facility. The Company closed 12 retail stores, 15 satellite locations and one distribution facility. In total, over the multi-year life of the plan, the Company expects to incur costs in the range of $185 million to $230 million, which we anticipate will generate approximately $380 million in EBITDA improvement and generate over $1.3 billion in total value.

Transaction Update

As previously announced on September 22, 2025, the Company entered into a definitive agreement to be acquired, via merger (the “Merger”), by an affiliate of Atlas Holdings. The Company’s Board of Directors has unanimously approved the Merger, which the Company continues to expect will be completed by the end of 2025. The Merger is subject to customary closing conditions, including regulatory approvals and approval by the Company’s shareholders. In light of the pending Merger, the Company will not hold an earnings conference call or provide forward-looking guidance.

(1)As presented throughout this release, adjusted results represent non-GAAP financial measures and exclude charges or credits not indicative of core operations and the tax effect of these items, which may include but not be limited to merger integration, restructuring, acquisition costs, asset impairments, and $70 million in operating income related to legal matter monetization where the Company was engaged in legal proceedings as a plaintiff. Reconciliations from GAAP to non-GAAP financial measures can be found in this release as well as on the Company’s Investor Relations website at investor.theodpcorp.com.
(2)As used in this release, Free Cash Flow is defined as cash flows from operating activities less capital expenditures and changes in restricted cash. Free Cash Flow is a non-GAAP financial measure and reconciliations from GAAP financial measures can be found in this release as well as on the Company’s Investor Relations website at investor.theodpcorp.com.
(3)As used in this release, Adjusted Free Cash Flow is defined as Free Cash Flow excluding cash charges associated with the Company’s restructuring programs, and related expenses. Adjusted Free Cash Flow is a non-GAAP financial measure and reconciliations from GAAP financial measures can be found in this release as well as on the Company’s Investor Relations website at investor.theodpcorp.com.

About The ODP Corporation

The ODP Corporation (NASDAQ:ODP) is a leading provider of products, services and technology solutions through an integrated business-to-business (B2B) distribution platform and omni-channel presence, which includes supply chain and distribution operations, dedicated sales professionals, online presence, and a network of Office Depot and OfficeMax retail stores. Through its operating companies ODP Business Solutions, LLC; Office Depot, LLC; and Veyer, LLC, The ODP Corporation empowers every business, professional, and consumer to achieve more every day. For more information, visit theodpcorp.com.

ODP and ODP Business Solutions are trademarks of ODP Business Solutions, LLC. Office Depot is a trademark of The Office Club, LLC. OfficeMax is a trademark of OMX, Inc. Veyer is a trademark of Veyer, LLC. Grand&Toy is a trademark of Grand & Toy, LLC in Canada. ©2025 Office Depot, LLC. All rights reserved. Any other product or company names mentioned herein are the trademarks of their respective owners.

FORWARD LOOKING STATEMENTS

This communication contains statements that constitute “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and Section 27A of the Securities Act of 1933, as amended. All statements that are not statements of historical fact are forward-looking statements. Without limitation, when we use the words “believe,” “estimate,” “plan,” “expect,” “intend,” “anticipate,” “continue,” “may,” “project,” “probably,” “should,” “could,” “will” and similar expressions in this communication, we are identifying forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). These statements appear in a number of places in this communication and include statements regarding the intent, belief, or current expectations of the Company, its directors, or its officers with respect to, among other things, the Company’s acquisition by an affiliate of Atlas Holdings, trends affecting the Company’s financial condition or results of operations, the Company’s ability to achieve its strategic plans, including the benefits related to Optimize for Growth, Project Core and other strategic restructurings or initiatives, liquidity, suppliers, consumers, customers, and employees, disruptions or inefficiencies in our supply chain, uncertainties arising from conflicts including the conflicts in Russia-Ukraine and in the Middle East, and macroeconomic drivers and their effect on the U.S. economy, changes in trade policy and tariffs, changes in worldwide and U.S. economic conditions including higher interest rates that materially impact consumer spending and employment and the demand for our products and services, and the outcome of contingencies such as litigation and investigations. Readers are cautioned that any forward-looking statements are not guarantees of future performance and involve risks and uncertainties. More information regarding these risks, uncertainties and other important factors that could cause actual results to differ materially from those in the forward-looking statements is set forth in our discussion of “Risk Factors” within Other Key Information in our Annual Report on Form 10-K filed on February 26, 2025 (the “2024 Form 10-K”) with the SEC and within Other Information in our Quarterly Reports on Form 10-Q filed for any subsequent fiscal quarters.

View full release here.

Tim Perrott
Investor Relations
561-438-4629
Tim.Perrott@theodpcorp.com

Source: The ODP Corporation

Lucky Strike Entertainment (LUCK) – Water Parks Make A Wave In The Latest Quarter

Posted on by slightbourne@noblecapitalmarkets.com


Wednesday, November 05, 2025

Lucky Strike Entertainment is one of the world’s premier location-based entertainment platforms. With over 360 locations across North America, Lucky Strike Entertainment provides experiential offerings in bowling, amusements, water parks, and family entertainment centers. The company also owns the Professional Bowlers Association, the major league of bowling and a growing media property that boasts millions of fans around the globe. For more information on Lucky Strike Entertainment, please visit ir.luckystrikeent.com.

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Solid Q1 results. The company reported revenue of $292.3 million, up 12.3% from the prior year period and 2.2% above our estimate of $286.0 million, as illustrated in Figure # 1 Q1 Results. Notably, the strong revenue growth was largely driven by new location openings and acquisitions of water parks and family entertainment centers (FEC). Same store sales were flat compared to the prior year. Adj. EBITDA of $72.7 million was in line with our estimate of $72.5 million, despite the higher revenue, primarily due to increases in location operating costs and payroll and benefit costs, in part from recent acquisitions.

Improved revenue outlook. While the events business declined 11% y-o-y, management noted that trends have begun to improve, with October marking the strongest month for events year-to-date. Additionally, the company’s retail and league revenue, remained resilient, posting modest growth of 1.4% and 2.1%, respectively. Furthermore, the company should benefit in Q4 from its recent water park and FEC acquisitions.


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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

U.S. Job Openings Fall to Lowest Level Since Early 2021 as Hiring Slows

Posted on by slightbourne@noblecapitalmarkets.com

Job openings across the United States have fallen to their lowest level in more than four and a half years, signaling that the once-resilient labor market is losing momentum. According to data from Indeed, employment opportunities dropped sharply in October as the prolonged government shutdown weighed on business confidence and hiring activity.

Indeed’s Job Postings Index fell to 101.9 as of October 24, marking the weakest reading since early February 2021. The index, which uses February 2020 as a baseline of 100, has slipped 0.5% since the beginning of October and is down about 3.5% since mid-August. The decline extends a downward trend that began earlier in the year, reflecting growing caution among employers amid economic uncertainty and tighter credit conditions.

Under normal circumstances, the Bureau of Labor Statistics (BLS) would have released its monthly Job Openings and Labor Turnover Survey (JOLTS) this week, a closely watched gauge of labor market health. However, with the federal government still partially shut down, economists have turned to private data sources like Indeed for real-time insights. The latest official JOLTS report, released in August, showed job openings at 7.23 million—down 7% from January and roughly flat compared with July—confirming that hiring appetite has been cooling for months.

Indeed’s internal dashboard also points to a softening in wage growth alongside the decline in job postings. The firm’s data shows advertised wages rising 2.5% year-over-year in August, compared to a 3.4% pace in January. Slower wage gains suggest that employers are facing less competition for workers than they did during the post-pandemic hiring boom, when labor shortages and rapid inflation pushed pay rates sharply higher.

The Federal Reserve has taken note of the cooling trend. Last week, the Fed’s policy-setting committee voted 10–2 to cut its benchmark interest rate by a quarter point, lowering the target range to 3.75%–4%. Officials cited growing risks to the labor market as a key reason for easing policy, even as inflation remains nearly a full percentage point above the central bank’s 2% target.

Fed Governor Lisa Cook highlighted the slowdown in a recent speech, noting that data from Indeed and other private sources show hiring activity weakening in real time. “We’re seeing a clear deceleration in job postings,” she said. “There’s reason to be concerned because unemployment has ticked up slightly over the summer.”

Economists, unable to rely on the usual stream of government data, have estimated that the October jobs report—had it been released—would have shown a net loss of around 60,000 positions and an increase in the unemployment rate to 4.5%.

Taken together, the latest indicators suggest that the U.S. job market, while still historically strong, is shifting from its rapid post-pandemic recovery into a slower, more cautious phase. If the current trends continue, policymakers may face increasing pressure to balance inflation control with the need to prevent a deeper slowdown in employment growth.

Superior Group of Companies (SGC) – The Quarter Highlights Attractive Profit Growth Potential

Posted on by slightbourne@noblecapitalmarkets.com


Tuesday, November 04, 2025

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

In-line quarter. While revenues were a tad lighter than we hoped, the company over delivered on its SG&A cuts. As such, adj. EBITDA was in line with expectations. The modest revenue variance was completely due to softer Contact Center revenue. A portion of the revenue decline was due to the loss of a client, but there appears to be a strong pipeline of business. As such,  Contact Center revenue trends should improve in subsequent quarters.

Cost cutting initiatives take center stage. SG&A expenses declined in each of the company’s operating segments, with cuts that exceeded expectations in each segment, as well. We believe that the cost reductions set the company up well for significant margin expansion as the market environment returns toward “normalcy.”


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Release – The Beachbody Company, Inc. Announces Third Quarter 2025 Earnings Release Date, Conference Call, and Webcast

Posted on by aweinsoff@channelchek.com

Research News and Market Data on BODI

November 3, 2025

    EL SEGUNDO, Calif.–(BUSINESS WIRE)– The Beachbody Company, Inc. (NASDAQ: BODI) (“BODi” or the “Company”), a leading fitness and nutrition company, will release its third quarter 2025 results on Monday, November 10, 2025, after the U.S. stock market closes. The Company will host a conference call at 5:00 p.m. (Eastern Time) that day to discuss the results.

    The toll-free dial-in for the conference call is (833) 470-1428 (U.S. & Canada), or click here for Global Dial-In Numbers. The conference ID is 828838. A live webcast of the conference call will also be available on the Company’s investor relations website at https://investors.thebeachbodycompany.com/.

    For those unable to participate in the conference call, a replay will be available after the conclusion of the call on November 10, 2025, through November 17, 2025. The toll-free replay dial-in number is (866) 813-9403 (U.S & Canada). The replay passcode is 739586.

    About BODi and The Beachbody Company, Inc.

    Originally known as Beachbody, BODi has been innovating structured step-by-step home fitness and nutrition programs for 26 years with products such as P90X, Insanity, and 21-Day Fix, plus the first premium superfood nutrition supplement, Shakeology. Since its inception in 1999, BODi has helped over 30 million customers pursue extraordinary life-changing results. The BODi community includes millions of people helping each other stay accountable to goals of healthy weight loss, improved strength and energy, and resilient mental and physical well-being. For more information, please visit thebeachbodycompany.com.

    Investor Relations
    IR@BODi.com

    Source: The Beachbody Company, Inc.

    Release – ACCO Brands Reports Third Quarter Results

    Posted on by aweinsoff@channelchek.com

    Research News and Market Data on ACCO

    10/30/2025

    • Reported net sales of $384 million
    • Gross margin expanded; SG&A down compared to prior year
    • Multi-year cost reduction program has yielded more than $50 million of savings
    • Earnings per share of $0.04, adjusted earnings per share of $0.21, in line with the Company’s outlook

    LAKE ZURICH, Ill.–(BUSINESS WIRE)– ACCO Brands Corporation (NYSE: ACCO) today reported financial results for its third quarter and nine-months ended September 30, 2025.

    “We delivered third quarter adjusted EPS in line with our outlook and expanded gross margin by 50 basis points as we continue to demonstrate strong operational discipline through continued execution of our $100 million cost reduction program. Sales were lower than expected in the quarter, as the demand environment for many of our categories remained soft globally. We expect sales trends to improve in the fourth quarter, reflecting the favorable impact of foreign exchange and growth in the technology accessories categories,” stated ACCO Brands’ President and Chief Executive Officer, Tom Tedford.

    “We are confident in our ability to deliver future value creation for our shareholders. Our teams continue to execute on our cost management initiatives, while remaining focused on enhancing our revenue opportunities. Innovation is core to our strategy; the fourth quarter new product launches will help abate the secular headwinds, while we also evaluate strategic opportunities that align with our growth objectives. We believe our leading brands, combined with our optimized operational structure, give us a strong platform for growth,” concluded Mr. Tedford.

    Third Quarter Results

    Net sales were $383.7 million, down 8.8 percent from $420.9 million in 2024. Favorable foreign exchange increased sales by $6.5 million, or 1.5 percent. Comparable sales decreased 10.3 percent. The decline in net sales reflects softer global demand for our products.

    Operating income was $26.0 million, versus $26.3 million in 2024. Restructuring expense was $1.5 million, compared to $6.7 million in the prior year. Adjusted operating income was $39.2 million, compared to $44.7 million in 2024. The decline in adjusted operating income reflects lower sales volume, lower fixed-cost absorption, and tariff-related impacts, which were partially offset by cost savings and lower incentive compensation expense.

    Net income was $4.0 million, or $0.04 per share, compared with prior-year net income of $9.3 million, or $0.09 per share. The decline in net income reflects items noted above in operating income, as well as discrete tax items and other expense of $5.5 million, compared to $0.2 million of a reversal in the prior year. Adjusted net income was $19.5 million, compared with adjusted net income of $22.5 million in 2024, and adjusted earnings per share were $0.21, compared with $0.23 in 2024.

    Business Segment Results

    ACCO Brands Americas – Third quarter segment net sales of $227.6 million decreased 12.2 percent from $259.1 million in the prior year. Net sales in the quarter were negatively impacted by softer demand for our product categories, partly offset by price increases.

    Third quarter operating income was $24.7 million, compared to $25.9 million a year earlier. Restructuring expense associated with the multi-year cost reduction program was $0.6 million, compared to $3.4 million in the prior year. Adjusted operating income was $32.7 million, down from $36.7 million in the prior year. The decrease in adjusted operating income reflects lower sales volume, lower fixed-cost absorption and impacts from tariffs, partially offset by cost savings and price.

    ACCO Brands International – Third quarter segment net sales of $156.1 million decreased 3.5 percent from $161.8 million in the prior year. Favorable foreign exchange increased sales by 3.8 percent. Comparable sales were $150.0 million, down 7.3 percent versus the prior year. Comparable sales declines reflect reduced demand for our product categories, partially offset by the benefit of price increases and the acquisition of Buro Seating.

    Third quarter operating income was $10.5 million, compared to $9.5 million in the prior year. Restructuring expense associated with the multi-year cost reduction program of $1.1 million, compared to $3.3 million in the prior year. Adjusted operating income was $15.9 million, compared with $17.1 million in the prior year. The decrease in adjusted operating income reflects the impact of lower sales volume, partially offset by pricing actions and cost savings.

    Nine Month Results

    Net sales were $1,095.9 million, down 10.0 percent from $1,218.1 million in 2024. Net sales declines reflect the impact from softer global demand and tariff-related impacts.

    Operating income was $52.3 million, versus an operating loss of $79.0 million in 2024, primarily due to non-cash impairment charges of $165.2 million related to goodwill and intangible assets within the Americas segment in the prior year. Restructuring expense of $13.2 million, compared to $6.1 million in the prior year. Current year operating income benefited from a gain on sale of assets of $6.9 million. Adjusted operating income was $93.2 million, down from $125.5 million in 2024. Adjusted operating income decline reflects lower sales volume and tariff related impacts, which were partially offset by cost savings and lower incentive compensation expense.

    Net income was $20.0 million, or $0.21 per share, compared with a net loss of $122.2 million, or $(1.27) per share, in 2024. Net income in the nine-month period was positively impacted by the same items noted above in operating income. Current year net income was also positively impacted by the settlement of outstanding tax assessments in Brazil, resulting in a benefit of $13.1 million. The prior year loss reflects the items noted above in operating income. Adjusted net income was $43.3 million, compared with $61.7 million in 2024, and adjusted earnings per share were $0.46 per share, compared with $0.63 per share in 2024.

    Capital Allocation and Dividend

    Year to date, operating cash flow was $38.1 million versus $95.5 million in the prior year. Adjusted free cash flow of $42.3 million compared to $86.9 million in the prior year. The Company’s consolidated leverage ratio as of September 30, 2025 was 4.1x.

    Year to date, the Company has paid dividends of $20.3 million. In the first quarter, the Company repurchased 3.2 million shares of common stock for $15.1 million.

    On October 24, 2025, ACCO Brands announced that its board of directors declared a regular quarterly cash dividend of $0.075 per share. The dividend will be paid on December 10, 2025 to stockholders of record at the close of business on November 21, 2025.

    Reaffirming Full Year 2025 Outlook

    For the full year, the Company expects reported sales to be down in the range of 7.0% to 8.5%. Full year adjusted EPS is expected to be within the range of $0.83 to $0.90. The Company expects 2025 adjusted free cash flow to be within the range of approximately $90 million to $100 million, which includes $17 million in cash proceeds from the sale of two facilities.

    “While we navigate the uncertain demand environment, we continue to focus on our faster growing categories. Our proven ability to manage costs and generate cash flow, combined with our market-leading brands and operational excellence, gives us confidence in our long-term value creation potential,” concluded Mr. Tedford.

    Webcast

    At 8:30 a.m. ET on October 31, 2025, ACCO Brands Corporation will host a conference call to discuss the Company’s third quarter 2025 results. The call will be broadcast live via webcast. The webcast can be accessed through the Investor Relations section of www.accobrands.com. The webcast will be in listen-only mode and will be available for replay following the event.

    About ACCO Brands Corporation

    ACCO Brands is the leader in branded consumer products that enable productivity, confidence and enjoyment while working, when learning and while playing. Our widely recognized brands, include AT-A-GLANCE®, Five Star®, Kensington®, Leitz®, Mead®, PowerA®, Swingline®, Tilibra® and many others. More information about ACCO Brands Corporation (NYSE: ACCO) can be found at www.accobrands.com.

    Non-GAAP Financial Measures

    In addition to financial results reported in accordance with generally accepted accounting principles (GAAP), we have provided certain non-GAAP financial information in this earnings release to aid investors in understanding the Company’s performance. Each non-GAAP financial measure is defined and reconciled to its most directly comparable GAAP financial measure in the “About Non-GAAP Financial Measures” section of this earnings release.

    Forward-Looking Statements

    Statements contained herein, other than statements of historical fact, particularly those anticipating future financial performance, business prospects, growth, strategies, business operations and similar matters, results of operations, liquidity and financial condition, and those relating to cost reductions and anticipated pre-tax savings and restructuring costs are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the beliefs and assumptions of management based on information available to us at the time such statements are made. These statements, which are generally identifiable by the use of the words “will,” “believe,” “expect,” “intend,” “anticipate,” “estimate,” “forecast,” “future”, “project,” “plan,” and similar expressions, are subject to certain risks and uncertainties, are made as of the date hereof, and we undertake no duty or obligation to update them. Forward-looking statements are subject to the occurrence of events outside the Company’s control and actual results and the timing of events may differ materially from those suggested or implied by such forward-looking statements due to numerous factors that involve substantial known and unknown risks and uncertainties. Investors and others are cautioned not to place undue reliance on forward-looking statements when deciding whether to buy, sell or hold the Company’s securities.

    Our outlook is based on certain assumptions which we believe to be reasonable under the circumstances. These include, without limitation, assumptions regarding consumer demand, tariffs, global geopolitical and economic uncertainties, and fluctuations in foreign currency exchange rates; and the other factors described below.

    Among the factors that could cause our actual results to differ materially from our forward-looking statements are: changes in trade policy and regulations, including changes in trade agreements and the imposition of tariffs, and the resulting consequences; global political and economic uncertainties; a limited number of large customers account for a significant percentage of our sales; sales of our products are affected by general economic and business conditions globally and in the countries in which we operate; risks associated with foreign currency exchange rate fluctuations; challenges related to the highly competitive business environment in which we operate; our ability to develop and market innovative products that meet consumer demands and to expand into new and adjacent product categories; our ability to successfully expand our business in emerging markets and the exposure to greater financial, operational, regulatory, compliance and other risks in such markets; the continued decline in the use of certain of our products; risks associated with seasonality, the sufficiency of investment returns on pension assets, risks related to actuarial assumptions, changes in government regulations and changes in the unfunded liabilities of a multi-employer pension plan; any impairment of our intangible assets; our ability to secure, protect and maintain our intellectual property rights, and our ability to license rights from major gaming console makers and video game publishers to support our gaming accessories business; our ability to grow profitably through acquisitions, and successfully integrate them; our ability to successfully execute our multi-year restructuring and cost savings program and realize the anticipated benefits; continued disruptions in the global supply chain; risks associated with inflation and other changes in the cost or availability of raw materials, transportation, labor, and other necessary supplies and services and the cost of finished goods; risks associated with outsourcing production of certain of our products, information technology systems and other administrative functions; the failure, inadequacy or interruption of our information technology systems or their supporting infrastructure; risks associated with a cybersecurity incident or information security breach, including that related to a disclosure of personally identifiable information; risks associated with our indebtedness, including limitations imposed by restrictive covenants, our debt service obligations, and our ability to comply with financial ratios and tests; a change in or discontinuance of our stock repurchase program or the payment of dividends; product liability claims, recalls or regulatory actions; the impact of litigation or other legal proceedings; the impact of additional tax liabilities stemming from our global operations and changes in tax laws, regulations and tax rates; our failure to comply with applicable laws, rules and regulations and self-regulatory requirements, the costs of compliance and the impact of changes in such laws; our ability to attract and retain qualified personnel; the volatility of our stock price; risks associated with circumstances outside our control, including those caused by telecommunication failures, labor strikes, power and/or water shortages, public health crises, such as the occurrence of contagious diseases, severe weather events, war, terrorism and other geopolitical incidents; and other risks and uncertainties described in “Part I, Item 1A. Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2024, and in other reports we file with the Securities and Exchange Commission.

    View full release here.

    Christopher McGinnis
    Investor Relations
    (847) 796-4320

    Kori Reed
    Media Relations
    (224) 501-0406Source: ACCO Brands Corporation

    Release – 1-800-FLOWERS.COM, Inc. Reports Fiscal 2026 First Quarter Results

    Posted on by aweinsoff@channelchek.com

    Research News and Market Data on FLWS

    Oct 30, 2025

    Reports Revenue of $215.2 Million and a Net Loss of $53.0 Million

    JERICHO, N.Y.–(BUSINESS WIRE)– 1-800-FLOWERS.COM, Inc. (NASDAQ: FLWS), a leading provider of thoughtful expressions designed to help inspire customers to give more, connect more, and build more and better relationships, today reported results for its Fiscal 2026 first quarter ended September 28, 2025.

    “Fiscal 2026 marks a pivotal year of stabilization for 1-800-Flowers.com, as we lay the foundation for sustainable, long-term growth. We are already seeing early benefits from our turnaround strategy, including improved marketing efficiency, enhanced customer focus, and expanded reach into new channels. Welcoming new talent and streamlining our operations have positioned us to execute with greater agility and accountability. While there is much more work ahead and some challenges to navigate, I am encouraged by the momentum building across the enterprise and am confident in our team’s ability to deliver improved results over time,” said Adolfo Villagomez, Chief Executive Officer.

    “Profitability trends improved throughout the quarter thanks to better marketing spend effectiveness, though timing factors impacted results for September. Alongside our marketing contribution margin improvements this quarter, we continued to advance our cost optimization initiatives. Building on the $17 million in savings we implemented during Fiscal 2025, we now anticipate achieving an additional $50 million in gross savings over the next two years, prior to any associated costs,” said James Langrock, Chief Financial Officer.

    Fiscal 2026 First Quarter Performance

    • Total consolidated revenues decreased 11.1% to $215.2 million, compared with the prior year period mainly due to a strategic shift that is focused on marketing effectiveness and profitability, combined with changes in wholesale order timing from the first quarter a year ago into the second quarter of this fiscal year.
    • Gross profit margin decreased 240 basis points to 35.7%, compared with 38.1% in the prior year period, primarily due to deleveraging on the sales decline.
    • Operating expenses decreased $12.0 million to $127.3 million, compared with the prior year period, primarily due to lower marketing and labor costs. Excluding non-recurring charges and the impact of the Company’s non-qualified deferred compensation plan in both periods, operating expenses declined $10.9 million as compared with the prior year to $124.9 million.
    • Net loss for the quarter was ($53.0) million, or ($0.83) per share, compared with a net loss of ($34.2) million, or ($0.53) per share in the prior year period.
    • Adjusted Net Loss1 was ($53.0) million, or ($0.83) per share, compared with an Adjusted Net Loss1 of ($32.9) million, or ($0.51) per share, in the prior year period.
    • Adjusted EBITDA1 loss for the quarter was ($32.9) million, compared with an Adjusted EBITDA1 loss of ($27.9) million in the prior year period.

    (1) Refer to “Definitions of Non-GAAP Financial Measures” and the tables attached at the end of this press release for reconciliation of non-GAAP results to applicable GAAP results.)

    Segment Results

    The Company provides Fiscal 2026 first quarter selected financial results for its Gourmet Foods & Gift Baskets, Consumer Floral & Gifts, and BloomNet® segments in the tables attached to this release and as follows:

    • Gourmet Foods & Gift Baskets: For the quarter, revenues declined 8.6% to $76.8 million, as compared with the prior year period. Gross profit margin decreased 340 basis points from the prior year period to 28.6% due to deleveraging on the sales decline and increased commodity and shipping costs. The segment contribution margin1 loss was $13.4 million, compared with $11.3 million in the prior year period, excluding system implementation costs.
    • Consumer Floral & Gifts: For the quarter, revenues declined 14.6% to $115.4 million, as compared with the prior year period. Gross profit margin decreased 200 basis points from the prior year period to 37.9% due to deleveraging on the sales decline and increased commodity and shipping costs. The segment contribution margin1 was $4.5 million, compared with $4.9 million in the prior year period.
    • BloomNet: For the quarter, revenues were $23.1 million, essentially flat as compared with a year ago. Gross profit margin decreased 230 basis points from the prior year period to 47.7%, due to higher florist fulfillment costs and rebates, a higher cost of merchandise, and a less favorable mix between wholesale and service revenue. The segment contribution margin1 was $5.9 million, compared with $6.8 million in the prior year period.

    Fiscal 2026

    The Company is approaching Fiscal Year 2026 as a pivotal period of foundation setting. By transforming 1-800-Flowers.com, Inc. into a customer-centric, data-driven organization with clear objectives and ROI-focused decision making, the Company aims to position itself to fuel future growth.

    The Company’s strategic priorities are focused on positioning the organization for long-term growth. These priorities include:

    • driving cost savings and organizational efficiency,
    • building a customer-centric and data-driven organization,
    • broadening our reach beyond our e-commerce sites into new channels, and
    • strengthening our team through enhanced talent and accountability.

    With a renewed commitment to agility and customer-centricity, the Company believes these foundational steps will set the stage for sustainable revenue and profit growth in the years to come.

    Conference Call

    The Company will conduct a conference call to discuss its financial results today, October 30, 2025, at 8:00 a.m. (ET). The conference call will be webcast from the Investors section of the Company’s website at www.1800flowersinc.com. A recording of the call will be posted on the Investors section of the Company’s website within two hours of the call’s completion.

    Definitions of non-GAAP Financial Measures:

    We sometimes use financial measures derived from consolidated financial information, but not presented in our financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). Certain of these are considered “non-GAAP financial measures” under the U.S. Securities and Exchange Commission rules. Non-GAAP financial measures referred to in this document are either labeled as “non-GAAP,” “adjusted” or designated as such with a “1”. See below for definitions and the reasons why we use these non-GAAP financial measures. Where applicable, see the Selected Financial Information below for reconciliations of these non-GAAP measures to their most directly comparable GAAP financial measures. Reconciliations for forward-looking figures would require unreasonable efforts at this time because of the uncertainty and variability of the nature and amount of certain components of various necessary GAAP components, including, for example, those related to compensation, tax items, amortization or others that may arise during the year, and the Company’s management believes such reconciliations would imply a degree of precision that would be confusing or misleading to investors. For the same reasons, the Company is unable to address the probable significance of the unavailable information. The lack of such reconciling information should be considered when assessing the impact of such disclosures.

    EBITDA and Adjusted EBITDA:

    We define EBITDA as net income (loss) before interest, taxes, depreciation, and amortization. Adjusted EBITDA is defined as EBITDA adjusted for the impact of stock-based compensation, Non-Qualified Deferred Compensation Plan (“NQDC”) investment appreciation/depreciation, and for certain items affecting period-to-period comparability. See Selected Financial Information for details on how EBITDA and Adjusted EBITDA were calculated for each period presented. The Company presents EBITDA and Adjusted EBITDA because it considers such information meaningful supplemental measures of its performance and believes such information is frequently used by the investment community in the evaluation of similarly situated companies. The Company uses EBITDA and Adjusted EBITDA as factors to determine the total amount of incentive compensation available to be awarded to executive officers and other employees. The Company’s credit agreement uses EBITDA and Adjusted EBITDA-related items to determine its interest rate and to measure compliance with certain covenants. EBITDA and Adjusted EBITDA are also used by the Company to evaluate and price potential acquisition candidates. EBITDA and Adjusted EBITDA have limitations as analytical tools and should not be considered in isolation or as a substitute for analysis of the Company’s results as reported under GAAP. Some of the limitations are: (a) EBITDA and Adjusted EBITDA do not reflect changes in, or cash requirements for, the Company’s working capital needs; (b) EBITDA and Adjusted EBITDA do not reflect the interest expense, or the cash requirements necessary to service interest or principal payments, on the Company’s debts; and (c) although depreciation and amortization are non-cash charges, the assets being depreciated and amortized may have to be replaced in the future and EBITDA does not reflect any cash requirements for such capital expenditures. EBITDA and Adjusted EBITDA should only be used on a supplemental basis combined with GAAP results when evaluating the Company’s performance.

    Segment Contribution Margin and Adjusted Segment Contribution Margin

    We define Segment Contribution Margin as earnings before interest, taxes, depreciation, and amortization, before the allocation of corporate overhead expenses. Adjusted Segment Contribution Margin is defined as Segment Contribution Margin adjusted for certain items affecting period-to-period comparability. See Selected Financial Information for details on how Segment Contribution Margin and Adjusted Segment Contribution Margin were calculated for each period presented. When viewed together with our GAAP results, we believe Segment Contribution Margin and Adjusted Segment Contribution Margin provide management and users of the financial statements meaningful information about the performance of our business segments. Segment Contribution Margin and Adjusted Segment Contribution Margin are used in addition to and in conjunction with results presented in accordance with GAAP and should not be relied upon to the exclusion of GAAP financial measures. The material limitation associated with the use of Segment Contribution Margin and Adjusted Segment Contribution Margin is that they are an incomplete measure of profitability as they do not include all operating expenses or non-operating income and expenses. Management compensates for this limitation when using these measures by looking at other GAAP measures, such as Operating Income and Net Income.

    Adjusted Net Income (Loss) and Adjusted or Comparable Net Income (Loss) Per Common Share:

    We define Adjusted Net Income (Loss) and Adjusted or Comparable Net Income (Loss) Per Common Share as Net Income (Loss) and Net Income (Loss) Per Common Share adjusted for certain items affecting period-to-period comparability. See Selected Financial Information below for details on how Adjusted Net Income (Loss) Per Common Share and Adjusted or Comparable Net Income (Loss) Per Common Share were calculated for each period presented. We believe that Adjusted Net Income (Loss) and Adjusted or Comparable Net Income (Loss) Per Common Share are meaningful measures because they increase the comparability of period-to-period results. Since these are not measures of performance calculated in accordance with GAAP, they should not be considered in isolation of, or as a substitute for, GAAP Net Income (Loss) and Net Income (Loss) Per Common Share, as indicators of operating performance and they may not be comparable to similarly titled measures employed by other companies.

    Free Cash Flow:

    We define Free Cash Flow as net cash provided by (used in) operating activities less capital expenditures. The Company considers Free Cash Flow to be a liquidity measure that provides useful information to management and investors about the amount of cash generated by the business after the purchases of fixed assets, which can then be used to, among other things, invest in the Company’s business, make strategic acquisitions, strengthen the balance sheet, and repurchase stock or retire debt. Free Cash Flow is a liquidity measure that is frequently used by the investment community in the evaluation of similarly situated companies. Since Free Cash Flow is not a measure of performance calculated in accordance with GAAP, it should not be considered in isolation or as a substitute for analysis of the Company’s results as reported under GAAP. A limitation of the utility of Free Cash Flow as a measure of financial performance is that it does not represent the total increase or decrease in the Company’s cash balance for the period.

    About 1-800-FLOWERS.COM, Inc.

    1-800-FLOWERS.COM, Inc. is a leading provider of thoughtful expressions designed to help inspire customers to share more, connect more, and build more and better relationships. The Company’s e-commerce business platform features an all-star family of brands, including: 1-800-Flowers.com®, 1-800-Baskets.com®, Card Isle®, Cheryl’s Cookies®, Harry & David®, PersonalizationMall.com®, Shari’s Berries®, FruitBouquets.com®, Things Remembered®, Moose Munch®, The Popcorn Factory®, Wolferman’s Bakery®, Vital Choice®, Simply Chocolate® and Scharffen Berger®. Through the Celebrations Passport® loyalty program, which provides members with free standard shipping and no service charge on eligible products across our portfolio of brands, 1-800-FLOWERS.COM, Inc. strives to deepen relationships with customers. The Company also operates BloomNet®, an international floral and gift industry service provider offering a broad-range of products and services designed to help members grow their businesses profitably; Napco®, a resource for floral gifts and seasonal décor; DesignPac Gifts, LLC, a manufacturer of gift baskets and towers; and Alice’s Table®, a lifestyle business offering floral, culinary and other experiences to guests across the country. 1-800-FLOWERS.COM, Inc. was recognized among America’s Most Trustworthy Companies by Newsweek for 2024. 1-800-FLOWERS.COM, Inc. was also recognized as one of America’s Most Admired Workplaces for 2025 by Newsweek and was named to the Fortune 1000 list in 2022. Shares in 1-800-FLOWERS.COM, Inc. are traded on the NASDAQ Global Select Market, ticker symbol: FLWS. For more information, visit 1800flowersinc.com.

    FLWS–COMP
    FLWS-FN

    Special Note Regarding Forward Looking Statements:

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent the Company’s current expectations or forecasts concerning future events; they do not relate strictly to historical or current facts. Such statements can generally be identified by words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” “foresee,” “forecast,” “likely,” “should,” “will,” “target,” or similar words or phrases. These forward-looking statements are subject to risks, uncertainties, and other factors, many of which are outside of the Company’s control, which could cause actual results to differ materially from the results expressed or implied in the forward-looking statements, including, but not limited to, statements relating to future actions; the Company’s ability to leverage its operating platform and reduce its operating expense ratio; its ability to successfully integrate acquired businesses and assets; its ability to successfully execute its strategic priorities; its ability to cost effectively acquire and retain customers and drive purchase frequency; the outcome of contingencies, including legal proceedings in the normal course of business; its ability to compete against existing and new competitors; its ability to manage expenses associated with sales and marketing and necessary general and administrative and technology investments; its ability to reduce promotional activities and achieve more efficient marketing programs; and general consumer sentiment and industry and economic conditions that may affect levels of discretionary customer purchases of the Company’s products. The Company cannot guarantee that any forward-looking statement will be realized. Achievement of future results is subject to risk, uncertainties and potentially inaccurate assumptions. Should known or unknown risks or uncertainties materialize, or should underlying assumptions prove inaccurate, actual results could differ materially from past results and those anticipated, estimated or projected. You should bear this in mind as you consider forward-looking statements. The Company undertakes no obligation to publicly update any of the forward-looking statements, whether because of new information, future events or otherwise, made in this release or in any of its SEC filings. Consequently, you should not consider any such list to be a complete set of all potential risks and uncertainties. For a more detailed description of these and other risk factors, refer to the Company’s SEC filings, including the Company’s Annual Reports on Form 10-K and its Quarterly Reports on Form 10-Q.

    View full release here.

    Investor Contact:

    Andy Milevoj

    investors@1800flowers.com

    Mortgage Rates Climb Despite Fed Cut

    Posted on by slightbourne@noblecapitalmarkets.com

    Mortgage rates moved higher this week, even as the Federal Reserve cut its benchmark interest rate — a surprise reaction that’s creating new headwinds for homebuyers and potential ripple effects for small-cap housing and construction stocks.

    The average rate on the 30-year fixed mortgage climbed to 6.33% on Thursday, up 20 basis points since Fed Chair Jerome Powell’s rate cut announcement, according to data from Mortgage News Daily. That reversal underscores how market sentiment, rather than Fed policy alone, often drives real borrowing costs.

    Markets had largely priced in the rate cut, but Powell’s cautious tone during his press conference tempered expectations for additional easing this year. Investors had been nearly certain of another cut in December, but Powell’s remarks suggested the central bank isn’t fully committed, pushing bond yields — and mortgage rates — back up.

    Just two days ago, the average 30-year rate sat near 6.13%, its lowest level in a year. Now, at 6.33%, borrowing costs are again pinching affordability for buyers already facing limited housing supply and elevated home prices.

    While the short-lived drop in rates earlier this month sparked a 111% surge in refinance applications year over year, according to the Mortgage Bankers Association, the latest uptick is likely to cool that momentum. Purchase applications have shown little improvement, signaling that demand from homebuyers remains muted despite a softer Fed stance.

    Higher mortgage rates can directly pressure smaller publicly traded companies tied to the housing and construction sectors — including homebuilders, materials suppliers, and mortgage lenders. Many small-cap names in these areas have benefited from expectations of sustained lower borrowing costs. If rates stabilize above 6%, those gains could unwind as affordability weakens and transaction volumes slow.

    At the same time, investors may see opportunities among regional construction, renovation, and home-improvement firms positioned to serve homeowners who choose to remodel rather than buy new properties in a high-rate environment. Companies in HVAC, roofing, and modular housing technology may be better insulated from the mortgage shock.

    Ultimately, the latest rate spike highlights how rate volatility continues to define the post-pandemic housing recovery — and why small-cap investors need to stay alert to shifts in Fed communication as much as Fed policy itself.

    If Powell’s cautious tone continues to dampen optimism about future cuts, mortgage rates may remain stubbornly high into year-end, keeping the housing market — and related small caps — in a holding pattern.

    Perfect (PERF) – Turning the Corner to Operating Profit

    Posted on by slightbourne@noblecapitalmarkets.com


    Wednesday, October 29, 2025

    Patrick McCann, CFA, Research Analyst, Noble Capital Markets, Inc.

    Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

    Refer to the full report for the price target, fundamental analysis, and rating.

    Q3 beat. Perfect reported Q3 revenue of $18.7 million, up 15.7% Y/Y and above our estimate of $17.8 million, with adj. EBITDA of $1.2 million, double expectations. Revenue growth was led by strong B2C performance. The company also achieved its first quarter of operating profit, reflecting greater scale efficiency and disciplined cost control.

    Continued strength in B2C. YouCam subscribers totaled 946K, down slightly, likely due to price hikes that the company initiated, which have led to higher revenue per user. B2C strength remains solid, supported by the YouCam AI Agent, which links apps under a unified login to personalize experiences and increase retention. Two apps are integrated, with full rollout expected by year-end.


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    *Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

    Travelzoo (TZOO) – Hits A Little Turbulence On Its Ascent

    Posted on by slightbourne@noblecapitalmarkets.com


    Wednesday, October 29, 2025

    Travelzoo® provides its 30 million members with exclusive offers and one-of-a-kind experiences personally reviewed by our deal experts around the globe. We have our finger on the pulse of outstanding travel, entertainment, and lifestyle experiences. We work in partnership with more than 5,000 top travel suppliers—our long-standing relationships give Travelzoo members access to irresistible deals.

    Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

    Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

    Refer to the full report for the price target, fundamental analysis, and rating.

    Softer than expected Q3 Results. The company reported Q3 revenue of $22.2 million, an increase of a solid 10.4%, and adj. EBITDA of $0.9 million, both of which were below our estimates of $23.0 million and $2.9 million, respectively. Importantly, the modestly softer than expected results were largely driven by weakness in advertising and increased marketing spend on customer acquisition.

    Customer acquisition. Notably, in Q3, customer acquisition costs increased to $40 per customer, up from $38 in Q2 and $28 in Q1, reflecting the company’s strategic efforts to grow its subscriber base. Furthermore, despite higher acquisition spend per customer, return on spend remains positive. Total return per customer in Q3 was $55, which consists of $40 from annual subscription fees and $15 from in-quarter transactions. While this strategy impacted adj. EBITDA in Q3, it’s supportive of a favorable long term growth outlook.


    Get the Full Report

    Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

    This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

    *Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.