Category: Consumer

ACCO Brands (ACCO) – Reports 2Q24 Results

Posted on by cpereira@noblefcm.com


Friday, August 02, 2024

ACCO Brands Corporation is one of the world’s largest designers, marketers and manufacturers of branded academic, consumer and business products. Our widely recognized brands include AT-A-GLANCE®, Esselte®, Five Star®, GBC®, Kensington®, Leitz®, Mead®, PowerA®, Quartet®, Rapid®, Rexel®, Swingline®, Tilibra®, and many others. Our products are sold in more than 100 countries around the world. More information about ACCO Brands, the Home of Great Brands Built by Great People, can be found at www.accobrands.com.

Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

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

2Q24 Results. Reported results continue to be impacted by soft demand for ACCO products. In addition, the previously disclosed exit of certain lower margin business, primarily in the back-to-school categories, and a one-time impairment charge related to goodwill and intangible assets negatively impacted reported results.

Details. Revenue of $438.3 million was down 11.2% on a reported basis y-o-y, with comp sales off 10.2%, reflecting softer global business and consumer demand, although computer accessories saw growth. We had projected revenue of $455 million, in-line with consensus. Reported operating loss was $111.2 million reflecting $165.2 million of non-cash impairment charges. Adjusted operating income was $64.6 million, down from $66.2 million in 2Q23. GAAP net loss was $125.2 million, or $1.29/sh, with adjusted net income of $36.6 million, or $0.37/sh. In 2Q23, ACCO reported net income of $26.4 million, or $0.27/sh, and adjusted net income of $36.5 million, or $0.38/sh.


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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. 

Release – FAT Brands Inc. Reports Second Quarter 2024 Financial Results

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on FAT

LOS ANGELES, July 31, 2024 (GLOBE NEWSWIRE) — FAT (Fresh. Authentic. Tasty.) Brands Inc. (NASDAQ: FAT) (“FAT Brands” or the “Company”) today reported financial results for the fiscal second quarter ended June 30, 2024.

“Over the last three years, we have grown the FAT Brands portfolio to 18 iconic restaurant brands with approximately 2,300 units across 40 countries and 49 U.S. states,” said Andy Wiederhorn, Chairman of FAT Brands. “We have opened 45 restaurants year to date, including 24 that opened during the second quarter, and plan to open over 120 new restaurants in 2024. We are seeing strong new franchisee activity as well as continued demand from existing franchise partners to develop other brands within our portfolio and heightened interest from our franchise partners who are eager to explore additional co-branding opportunities that leverage synergies within our brand offerings.”

Ken Kuick, Co-Chief Executive Officer of FAT Brands, commented, “We have signed over 180 development deals year to date, compared to 226 deals for the entirety of 2023, bringing our current pipeline to approximately 1,100 locations.” Kuick continued, “Continuing in 2024 is our focus on the expansion of Twin Peaks. We opened four new lodges during the first half of 2024 and plan to open another 12 to 15 new Twin Peaks lodges in 2024, ending the year with approximately 125 lodges. Additionally, our first conversion of a Smokey Bones location is officially underway. We see this as the first of many sites we will use to fuel Twin Peaks’ fast-paced growth.”

Rob Rosen, Co-Chief Executive Officer of FAT Brands, concluded, “Opportunities in 2024 are abundant. Our long-term strategy is to create value through the organic expansion of our existing brands, acquire additional brands that strategically complement our portfolio, realize value from strategic divestments when appropriate to manage outstanding debt, and ultimately increase long-term value for our stakeholders.”

Fiscal Second Quarter 2024 Highlights

  • Total revenue improved 42.4% to $152.0 million compared to $106.8 million in the fiscal second quarter of 2023
    • System-wide sales growth of 8.6% in the fiscal second quarter of 2024 compared to the prior year fiscal quarter
      • Year-to-date system-wide same-store sales declined of 1.6% in the fiscal second quarter of 2024 compared to the prior year
    • 24 new store openings during the fiscal second quarter of 2024
  • Net loss of $39.4 million, or $2.43 per diluted share, compared to $7.1 million, or $0.53 per diluted share, in the fiscal second quarter of 2023
  • EBITDA(1) of $6.8 million compared to $25.6 million in the fiscal second quarter of 2023
  • Adjusted EBITDA(1) of $15.7 million compared to $23.1 million in the fiscal second quarter of 2023
  • Adjusted net loss(1) of $30.9 million, or $1.93 per diluted share, compared to adjusted net income(1) of $3.0 million, or

$0.08 per diluted share, in the fiscal second quarter of 2023

(1) EBITDA, adjusted EBITDA and adjusted net (loss) income are non-GAAP measures defined below, under “Non- GAAP Measures”. Reconciliation of GAAP net loss to EBITDA, adjusted EBITDA and adjusted net (loss) income are included in the accompanying financial tables.

Summary of Fiscal Second Quarter 2024 Financial Results

Total revenue increased $45.2 million, or 42.4%, in the second quarter of 2024 to $152.0 million compared to $106.8 million in the same period of 2023, driven by the acquisition of Smokey Bones in September 2023 and revenues from new restaurant openings.

Costs and expenses consist of general and administrative expense, cost of restaurant and factory revenues, depreciation and amortization, refranchising net loss and advertising fees. Costs and expenses increased $66.4 million, or 75.2%, in the second quarter of 2024 to $154.7 million compared to the same period in the prior year, primarily due to the acquisition of Smokey Bones in September 2023 and increased activity from Company-owned restaurants and the Company’s factory.

General and administrative expense increased $19.6 million, or 197.2%, in the second quarter of 2024 compared to $9.9 million in the same period in the prior year, primarily due to the acquisition of Smokey Bones in September 2023 and the recognition of
$12.7 million in Employee Retention Credits during the second quarter of fiscal year 2023, partially offset by the recognition of
$2.1 million in Employee Retention Credits during the second quarter of fiscal year 2024.

Cost of restaurant and factory revenues was related to the operations of the company-owned restaurant locations and dough factory and increased $40.6 million, or 68.3%, in the second quarter of 2024, primarily due to the acquisition of Smokey Bones in September 2023 and higher company-owned restaurant sales.

Depreciation and amortization increased $3.2 million, or 45.1% in the second quarter of 2024 compared to the same period in the prior year, primarily due to the acquisition of Smokey Bones in September 2023 and depreciation of new property and equipment at company-owned restaurant locations.

Refranchising net loss in the second quarter of 2024 of $0.2 million was comprised of $0.5 million in net loss related to the sale or closure of refranchised restaurants, offset by $0.3 million in restaurant food sales, net of operating costs. Refranchising net loss in the second quarter of 2023 of $0.2 million was comprised of $0.2 million in restaurant operating costs, net of food sales.

Advertising expenses increased $3.0 million in the second quarter of 2024 compared to the prior year period, primarily due to the acquisition of Smokey Bones in September 2023. Additionally, these expenses vary in relation to advertising revenues.

Total other expense, net, for the second quarter of 2024 and 2023 was $34.8 million and $24.2 million, respectively, which is inclusive of interest expense of $34.0 million and $24.3 million, respectively. This increase is primarily due to new debt issuances.

Adjusted net loss(1) of $30.9 million, or $1.93 per diluted share, compared to adjusted net income(1) of $3.0 million, or $0.08 per diluted share, in the fiscal second quarter of 2023.

Key Financial Definitions

New store openings – The number of new store openings reflects the number of stores opened during a particular reporting period. The total number of new stores per reporting period and the timing of stores openings has, and will continue to have, an impact on our results.

Same-store sales growth – Same-store sales growth reflects the change in year-over-year sales for the comparable store base, which we define as the number of stores open and in the FAT Brands system for at least one full fiscal year. For stores that were temporarily closed, sales in the current and prior period are adjusted accordingly. Given our focused marketing efforts and public excitement surrounding each opening, new stores often experience an initial start-up period with considerably higher than average sales volumes, which subsequently decrease to stabilized levels after three to six months. Additionally, when we acquire a brand, it may take several months to integrate fully each location of said brand into the FAT Brands platform. Thus, we do not include stores in the comparable base until they have been open and in the FAT Brands system for at least one full fiscal year.

System-wide sales growth – System wide sales growth reflects the percentage change in sales in any given fiscal period compared to the prior fiscal period for all stores in that brand only when the brand is owned by FAT Brands. Because of

acquisitions, new store openings and store closures, the stores open throughout both fiscal periods being compared may be different from period to period.

Conference Call and Webcast

FAT Brands will host a conference call and webcast to discuss its fiscal second quarter 2024 financial results today at 5:00 PM ET. Hosting the conference call and webcast will be Andy Wiederhorn, Chairman of the Board, and Ken Kuick, Co-Chief Executive Officer and Chief Financial Officer.

The conference call can be accessed live over the phone by dialing 1-844-826-3035 from the U.S. or 1-412-317-5195 internationally. A replay will be available after the call until Wednesday, August 21, 2024, and can be accessed by dialing 1-844-512-2921 from the U.S. or 1-412-317-6671 internationally. The passcode is 10189773. The webcast will be available at www.fatbrands.com under the “Investors” section and will be archived on the site shortly after the call has concluded.

About FAT (Fresh. Authentic. Tasty.) Brands

FAT Brands (NASDAQ: FAT) is a leading global franchising company that strategically acquires, markets, and develops fast casual, quick-service, casual dining, and polished casual dining concepts around the world. The Company currently owns 18 restaurant brands: Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli’s, Twin Peaks, Smokey Bones, Great American Cookies, Hot Dog on a Stick, Buffalo’s Cafe & Express, Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Native Grill & Wings, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses and franchises and owns approximately 2,300 units worldwide. For more information, please visit www.fatbrands.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the future financial and operating results of the Company, the timing and performance of new store openings, our ability to conduct future accretive acquisitions and our pipeline of new store locations. Forward- looking statements generally use words such as “expect,” “foresee,” “anticipate,” “believe,” “project,” “should,” “estimate,” “will,” “plans,” “forecast,” and similar expressions, and reflect our expectations concerning the future. Forward-looking statements are subject to significant business, economic and competitive risks, uncertainties and contingencies, many of which are difficult to predict and beyond our control, which could cause our actual results to differ materially from the results expressed or implied in such forward-looking statements. We refer you to the documents that we file from time to time with the Securities and Exchange Commission, such as our reports on Form 10-K, Form 10-Q and Form 8-K, for a discussion of these and other risks and uncertainties that could cause our actual results to differ materially from our current expectations and from the forward-looking statements contained in this press release. We undertake no obligation to update any forward-looking statements to reflect events or circumstances occurring after the date of this press release.

Non-GAAP Measures (Unaudited)

This press release includes the non-GAAP financial measures of EBITDA, adjusted EBITDA and adjusted net (loss) income.

EBITDA is defined as earnings before interest, taxes, and depreciation and amortization. We use the term EBITDA, as opposed to income from operations, as it is widely used by analysts, investors, and other interested parties to evaluate companies in our industry. We believe that EBITDA is an appropriate measure of operating performance because it eliminates the impact of expenses that do not relate to business performance. EBITDA is not a measure of our financial performance or liquidity that is determined in accordance with generally accepted accounting principles (“GAAP”), and should not be considered as an alternative to net loss as a measure of financial performance or cash flows from operations as measures of liquidity, or any other performance measure derived in accordance with GAAP.

Adjusted EBITDA is defined as EBITDA (as defined above), excluding expenses related to acquisitions, refranchising loss, impairment charges, and certain non-recurring or non-cash items that the Company does not believe directly reflect its core operations and may not be indicative of the Company’s recurring business operations.

Adjusted net (loss) income is a supplemental measure of financial performance that is not required by or presented in accordance with GAAP. Adjusted net (loss) income is defined as net (loss) income plus the impact of adjustments and the tax effects of such adjustments. Adjusted net (loss) income is presented because we believe it helps convey supplemental information to investors regarding our performance, excluding the impact of special items that affect the comparability of results in past quarters to expected results in future quarters. Adjusted net (loss) income as presented may not be comparable to other similarly titled measures of other companies, and our presentation of adjusted net loss should not be construed as an inference that our future results will be unaffected by excluded or unusual items. Our management uses this non-GAAP financial measure to analyze changes in our underlying business from quarter to quarter based on comparable financial results.

Reconciliations of net loss presented in accordance with GAAP to EBITDA, adjusted EBITDA and adjusted net loss are set forth in the tables below.

Investor Relations:

ICR
Michelle Michalski
ir-fatbrands@icrinc.com
646-277-1224

Media Relations:

Erin Mandzik emandzik@fatbrands.com 860-212-6509

FAT Brands Inc. Consolidated Statements of Operations

Click here for full report

FAT Brands (FAT) – Overview of 2Q24 Operating Results

Posted on by cpereira@noblefcm.com


Thursday, August 01, 2024

FAT Brands (NASDAQ: FAT) is a leading global franchising company that strategically acquires, markets, and develops fast casual, quick-service, casual dining, and polished casual dining concepts around the world. The Company currently owns 17 restaurant brands: Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli’s, Twin Peaks, Great American Cookies, Hot Dog on a Stick, Buffalo’s Cafe & Express, Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Native Grill & Wings, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses, and franchises and owns over 2,300 units worldwide. For more information on FAT Brands, please visit www.fatbrands.com.

Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

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

Note: FAT Brands has entered into an Equity Distribution Agreement with Noble Capital Markets relating to the potential sale of up to $10.335 million of Class A common stock and/or 8.25% Series B Cumulative Preferred stock. As a result, this report will just focus on a review of FAT Brands’ second quarter operating results.

2Q24 Results. FAT’s 2Q24 results were very similar to 1Q24 results. While we had hoped for some sequential improvement, given the overall industry challenges seen so far this reporting season, relatively flat results are not too bad. Revenue totaled $152 million, flat sequentially and up 42.4% y-o-y. Adjusted EBITDA totaled $15.7 million versus $23.1 million last year, with the decline reflecting lower employee retention credits this quarter. FAT reported a net loss of $41.3 million, or $2.43 per share, compared to a loss of $8.7 million, or a loss of $0.53/sh in 2Q23.


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. 

Xcel Brands (XELB) – A Set Up For 2025

Posted on by cpereira@noblefcm.com


Tuesday, July 30, 2024

Xcel Brands, Inc. 1333 Broadway 10th Floor New York, NY 10018 United States https:/Sector(s): Consumer Cyclical Industry: Apparel Manufacturing Full Time Employees: 84 Key Executives Name Title Pay Exercised Year Born Mr. Robert W. D’Loren Chairman, Pres & CEO 1.27M N/A 1958 Mr. James F. Haran CFO, Principal Financial & Accou

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 Q2 preliminary results. The company announced limited, preliminary operating results from Q2. Revenue in the quarter is expected to be $3.0 million, modestly below our estimate of $3.6 million, and adj. EBITDA of negative $40,000 was in line with our estimate of negative $64,000. 

LOGO sale finalized. The sale of the LOGO brand was finalized on June 30, and the company is expected to recognized a one time gain of $3.8 million. We estimate that Lori Goldstein accounted for roughly $5 million in annual revenues and $2 million in adj. EBITDA. However, after earn-outs, we estimate that the company was losing money on the brand.


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. 

Release – FAT Brands to Announce Second Quarter 2024 Financial Results On July 31, 2024

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on FAT

LOS ANGELES, July 29, 2024 (GLOBE NEWSWIRE) — FAT (Fresh. Authentic. Tasty.) Brands Inc. (NASDAQ: FAT) (“FAT Brands” or the “Company”), a leading global franchising company and parent company of iconic brands including Round Table Pizza, Fatburger, Johnny Rockets, Twin Peaks, Fazoli’s and 13 other restaurant concepts, today announced that the Company will host a conference call to review its second quarter 2024 financial results on Wednesday, July 31, 2024 at 5:00 PM ET. A press release with second quarter 2024 financial results will be issued prior to the conference call that day.

The conference call can be accessed live over the phone by dialing 1-844-826-3035 from the U.S. or 1-412-317-5195 internationally. A replay will be available after the call until Wednesday, August 31, 2024, and can be accessed by dialing 1-844-512-2921 from the U.S. or 1-412-317-6671 internationally. The passcode is 10189773. Hosting the call will be Andy Wiederhorn, Chairman, and Ken Kuick, Co-Chief Executive Officer and Chief Financial Officer.

The conference call will also be webcast live from the corporate website at www.fatbrands.com, under the “Investors” section. A replay of the webcast will be available through the corporate website shortly after the call has concluded.

About FAT (Fresh. Authentic. Tasty.) Brands

FAT Brands (NASDAQ: FAT) is a leading global franchising company that strategically acquires, markets, and develops fast casual, quick-service, casual dining, and polished casual dining concepts around the world. The Company currently owns 18 restaurant brands: Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli’s, Twin Peaks, Great American Cookies, Smokey Bones, Hot Dog on a Stick, Buffalo’s Cafe & Express, Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Native Grill & Wings, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses, and franchises and owns over 2,300 units worldwide. For more information on FAT Brands, please visit www.fatbrands.com.

Investor Relations:
ICR
Michelle Michalski
IR-FATBrands@icrinc.com
646-277-1224

Media Relations:
Erin Mandzik
emandzik@fatbrands.com
860-212-6509

The Rise of Chinese E-commerce Giants and Their Impact on US Tech Earnings

Posted on by slightbourne@noblecapitalmarkets.com
Key Points:
– Temu and Shein’s rapid growth in the US market is influencing tech earnings and competition.
– These platforms leverage low prices and aggressive marketing strategies to gain market share.
– The impact of Chinese e-commerce companies on US tech giants raises questions about fair competition and trade policies.

In recent months, the e-commerce landscape in the United States has been dramatically altered by the meteoric rise of Chinese discount shopping apps Temu and Shein. As Wall Street prepares for the latest round of tech earnings reports, the influence of these platforms on industry giants like Amazon, Meta, and eBay is becoming increasingly apparent.

Temu and Shein have captured the attention of American consumers with their rock-bottom prices and aggressive marketing campaigns. Temu, which launched in the US in 2022, quickly surpassed established social media apps in popularity on the Apple App Store. Shein, present in the US market since 2017, has seen similar success. Both platforms offer incredibly low-priced goods, such as $3 shoes or $15 smartwatches, directly from Chinese manufacturers to American consumers.

The success of these platforms is partially attributed to a trade loophole known as the de minimis exception. This rule allows packages valued under $800 to enter the US duty-free, giving Chinese retailers a significant competitive advantage. Amazon’s top public policy executive, David Zapolsky, has expressed concern about this trend, suggesting that some business models may be unfairly subsidized.

The impact of Temu and Shein extends beyond just e-commerce. Their substantial ad spending has become a significant revenue source for companies like Google and Facebook. However, recent data suggests that Temu may be adjusting its marketing strategy, potentially affecting ad revenue for these tech giants.

Established e-commerce players are responding to this new competition in various ways. Amazon, while emphasizing its delivery speed advantage, is reportedly planning to launch its own discount store featuring unbranded items priced below $20. eBay has stressed its differentiated selection, while Etsy has highlighted its focus on artisan goods.

The rise of these Chinese platforms has also sparked discussions about fair competition and trade policies. US officials, along with their counterparts in the European Union, are considering closing the de minimis loophole, which could significantly impact the growth of Temu and Shein.

Despite the challenges posed by these new entrants, analysts suggest that major players like Amazon and Walmart are relatively insulated from the competition. The established e-commerce giants’ superior shipping speeds and extensive logistics networks provide a significant competitive advantage.

As the tech industry braces for the upcoming earnings reports, all eyes will be on how companies address the impact of Temu and Shein. Investors will be particularly interested in any commentary on changes in e-commerce marketplaces and shifts in ad spending patterns.

The story of Temu and Shein’s rise in the US market is more than just a tale of successful market entry. It represents a shifting dynamic in global e-commerce, raising important questions about international trade policies, fair competition, and the future of retail. As these Chinese platforms continue to grow and evolve, their impact on the US tech industry and broader economy will likely remain a topic of intense scrutiny and debate.

Release – CVG Announces Second Quarter 2024 Earnings Call

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on CVGI

NEW ALBANY, Ohio, July 26, 2024 (GLOBE NEWSWIRE) — CVG (NASDAQ: CVGI) will hold its quarterly conference call on Tuesday, August 6, 2024, at 8:30 a.m. ET, to discuss second quarter 2024 financial results. CVG will issue a press release and presentation prior to the conference call.

Toll-free participants dial (800) 549-8228 using conference code 11335. International participants dial (289) 819-1520 using conference code 11335. This call is being webcast and can be accessed through the “Investors” section of CVG’s website at ir.cvgrp.com where it will be archived for one year.

A telephonic replay of the conference call will be available until August 20, 2024. To access the replay, toll-free callers can dial (877) 674-7070 using access code 11335#.

About CVG

At CVG, we deliver real solutions to complex design, engineering and manufacturing problems while creating positive change for our customers, industries, and communities we serve. Information about the Company and its products is available on the internet at www.cvgrp.com.

Investor Relations Contact:
Ross Collins or Stephen Poe
Alpha IR Group
CVGI@alpha-ir.com                                                

Source: Commercial Vehicle Group, Inc.

Noble Capital Markets Emerging Growth TMT / Consumer Conference Presentation Replays

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  • Emerging Growth Public TMT/Consumer Company Executive Presentations
  • Q&A Sessions Moderated by Noble’s Analysts
  • Scheduled 1×1 Meetings with Qualified Investors

Noble Capital Markets, a full-service SEC / FINRA registered broker-dealer, dedicated exclusively to serving emerging growth companies, is pleased to present the Consumer, Communications, Media, and Technology Emerging Growth Virtual Equity Conference, taking place June 26th and 27th, 2024. This virtual gathering is set to be an immersive experience, bringing together a unique blend of investors, industry leaders, and experts in the consumer, communications, media, and technology sectors..

Part of Noble’s Robust 2024 Events Calendar

The Consumer, Communications, Media, and Technology Emerging Growth Virtual Equity Conference is part of Noble’s 2024 event programming, featuring a range of c-suite interviews, in-person non-deal roadshows throughout the United States, two other sector-specific virtual equity conferences, and culminating in Noble’s preeminent in-person investor conference, NobleCon20, to be held at Florida Atlantic University in Boca Raton, Florida December 3-4. Keep an eye out for the official press release on NobleCon20 coming soon.

Check out the calendar of upcoming in-person non-deal roadshows here.

Sign up to receive more information on Noble’s other virtual conferences here.

What to Expect

The Consumer, Communications, Media, and Technology Emerging Growth Virtual Equity Conference will feature 2 days of corporate presentations from up to 50 innovative public consumer, communications, media, and technology companies, showcasing their latest advancements and investment opportunities. Each presentation will be followed by a fireside-style Q&A session proctored by one of Noble’s analysts or bankers, with questions taken from the audience during the presentation. Panel presentations are planned, featuring key opinion leaders in these sectors, providing valuable insights on emerging trends. Scheduled one-on-one meetings with public company executives, coordinated by Noble’s dedicated Investor Outreach team, are also available to qualified investors.

Why Your Company Should Present

Looking to increase awareness in your company and increase liquidity? Paid participation in Noble’s investor conferences, both virtual and in-person, provides that opportunity, with a tailored experience aimed at delivering substantial value. After 40 years of serving emerging growth companies, and the investors who follow them, Noble has built an investor base eager to discover where the next success story lies.

Noble’s investor base is relevant and, in many cases, new to your company. Noble’s dedicated Investor Outreach team provides unmatched exposure to investors that can invest in your company, including small money managers, family offices, RIAs, wealth managers, self-directed investors, and institutions. Most of Noble’s investors specifically seek undervalued, overlooked, emerging investment opportunities.

The cost to present includes your corporate presentation with a Q&A session proctored by one of Noble’s analysts or bankers, a webcast recording, scheduled 1×1 meetings with qualified investors, and marketing on Channelchek.

Benefits for Investors

Hear directly from the c-suite of the next innovators in consumer, communications, media, and technology and learn about new investment opportunities. The Q&A portion of each presentation gives you the opportunity to have your questions answered during or after the proctored session. The planned panel presentations are sure to provide expert insight on growing trends in the healthcare space. And, for qualified investors, one-on-one meetings are available with company executives; scheduled by Noble’s dedicated Investor Outreach team. All from the comfort of your own desk, and at no cost.

How to Register

If you have any questions about presenting, please contact events@noblecapitalmarkets.com

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Contact events@noblecapitalmarkets.com for sponsorship information.

Release – The ODP Corporation to Announce Second Quarter 2024 Results Wednesday, August 7, 2024

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on ODP

BOCA RATON, Fla.–(BUSINESS WIRE)–Jul. 24, 2024– The ODP Corporation (NASDAQ:ODP) (“ODP,” or the “Company”), a leading provider of business services, products and digital workplace technology solutions to businesses and consumers, will announce second quarter 2024 financial results before the market open on Wednesday, August 7th, 2024. The ODP Corporation will webcast a call with financial analysts and investors that day at 9:00 am Eastern Time which will be accessible to the media and the general public.

To listen to the conference call via webcast, please visit The ODP Corporation’s Investor Relations website at investor.theodpcorp.com. A replay of the webcast will be available approximately two hours following the event. A copy of the earnings press release, supplemental financial disclosures and presentation will also be available on the website.

About The ODP Corporation

The ODP Corporation (NASDAQ:ODP) is a leading provider of products and services through an integrated business-to-business (B2B) distribution platform and omnichannel presence, which includes world-class supply chain and distribution operations, dedicated sales professionals, a B2B digital procurement solution, online presence and a network of Office Depot and OfficeMax retail stores. Through its operating companies Office Depot, LLC; ODP Business Solutions, 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. Varis is a trademark of Varis, Inc. Grand&Toy is a trademark of Grand & Toy, LLC in Canada. Any other product or company names mentioned herein are the trademarks of their respective owners.

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

Source: The ODP Corporation

Lifeway Foods (LWAY) – The Family Feud Continues

Posted on by cpereira@noblefcm.com


Friday, July 19, 2024

Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

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

New Demands. Ludmila and Edward Smolyansky renewed their demands for the immediate termination of Lifeway CEO Julie Smolyansky as well as the resignation of the majority of the Board. According to a press release issued yesterday, “The Smolyanskys believe these actions are necessary to avoid further underperformance and mismanagement of Company assets, and that new leadership can deliver swift and significant changes to shareholders.”

More. The release goes on to state, “it is impossible for the brand to achieve its full potential and value in the short and long term, and for Lifeway to move forward,” Julie Smolyansky must get out of the way. The Smolyanskys posted a related presentation at www.lifebacktolifeway.com, but the website did not appear to be working properly when we viewed it. Once again, the Smolyanskys call for an operational and strategic review of the business.


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Release – FAT Brands Inc. Announces Third Quarter Cash Dividend on Class A Common Stock and Class B Common Stock

Posted on by aweinsoff@channelchek.com

Research News and Market Data on FAT

07/11/2024

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LOS ANGELES, July 11, 2024 (GLOBE NEWSWIRE) — FAT (Fresh. Authentic. Tasty.) Brands Inc. (NASDAQ: FAT), a leading global franchising company and parent company of iconic brands including Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Twin Peaks, Fazoli’s, Smokey Bones and 11 other restaurant concepts, announced today that its Board of Directors has declared the Company’s fiscal 2024 third quarter cash dividend of $0.14 per share on each outstanding share of Class A common stock and Class B common stock. The dividend is payable on August 30, 2024 to holders of record of Class A common stock and Class B common stock as of the close of business on August 15, 2024.

The declaration and payment of future dividends, as well as the amounts thereof, are subject to the discretion of the Company’s Board of Directors. The amount and size of any future dividends will depend upon the Company’s future results of operations, financial condition, capital levels, cash requirements and other factors. There can be no assurance that the Company will declare and pay dividends in future periods.

About FAT (Fresh. Authentic. Tasty.) Brands

FAT Brands Inc. (NASDAQ: FAT) (the Company) is a leading global franchising company that strategically acquires, markets and develops quick service, fast casual and casual dining restaurant concepts around the world. The Company currently owns eighteen restaurant brands: Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli’s, Twin Peaks, Smokey Bones, Great American Cookies, Hot Dog on a Stick, Buffalo’s Cafe & Express, Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Native Grill & Wings, Yalla Mediterranean, Ponderosa and Bonanza Steakhouses and franchises and owns over 2,300 units worldwide. For more information, please visit www.fatbrands.com.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to significant business, economic and competitive risks, uncertainties and contingencies, many of which are difficult to predict and beyond our control, which could cause our actual results to differ materially from the results expressed or implied in such forward-looking statements. We refer you to the documents we file from time to time with the Securities and Exchange Commission, such as our reports on Form 10-K, Form 10-Q and Form 8-K, for a discussion of these risks, uncertainties and contingencies. We undertake no obligation to update any forward-looking statement to reflect events or circumstances occurring after the date of this press release.

Investor Relations:
ICR
Michelle Michalski
IR-FATBrands@icrinc.com
646-277-1224

Media Relations:
FAT Brands Inc.
Erin Mandzik
emandzik@fatbrands.com
860-212-6509

Release – Fatburger and Round Table Pizza Announce Co-Branded Concept Headed to Utah

Posted on by aweinsoff@channelchek.com

Research News and Market Data on FAT

07/09/2024

Beloved California-Born Burger and Pizza Brands Set for Beehive State

LOS ANGELES, July 09, 2024 (GLOBE NEWSWIRE) — FAT (Fresh. Authentic. Tasty.) Brands Inc., parent company of Fatburger, Round Table Pizza, and 16 other restaurant concepts, announces a new development deal set to bring the iconic California-based pizza and burger chains to Utah. In partnership with franchisee Blacksheep Hospitality Group, LLC, the new deal will bring a total of 12 co-branded Fatburger and Round Table Pizza franchised restaurants to the Beehive State over the next six years, with the first unit set to open in 2025.

“Since debuting the Fatburger and Round Table Pizza co-branded pairing last year, we now have over 50 plus units in the development pipeline,” said Taylor Wiederhorn, Chief Development Officer of FAT Brands. “This momentum can be attributed to the model’s success right out of the gate in Texas. Shelby Jobe and his team opened the first co-branded store in Texas, and we are confident that he will be just as successful in expanding the concept throughout Utah with Blacksheep Hospitality Group, LLC.”

Ever since the first Fatburger opened in Los Angeles over 70 years ago, the chain has been known for its delicious, grilled-to-perfection and cooked-to-order burgers. Founder Lovie Yancey believed that a big burger with everything on it is a meal in itself. At Fatburger, “everything” is not just the usual lettuce, tomato, onion, mayo, mustard, pickles and relish. Burgers can be customized with multiple patties and toppings including bacon and eggs. In addition to its famous burgers, the Fatburger menu also includes Fat and Skinny Fries, Turkeyburgers, hand-breaded Crispy Chicken Sandwiches, and hand-scooped Milkshakes made from 100% real ice cream.

Since its founding in 1959, Round Table Pizza has been recognized as “Pizza Royalty™” for its homemade dough made from scratch and rolled fresh daily as well as for its dedication to using gold-standard ingredients like hand-sliced vegetables, high-quality meats, and the brand’s signature three cheese blend. Each pizza is hand-crafted with legendary toppings layered to the edge of Round Table’s perfectly baked crust.

For more information on Fatburger, visit www.fatburger.com. For more information on Round Table Pizza, visit www.roundtablepizza.com.

###

About FAT (Fresh. Authentic. Tasty.) Brands

FAT Brands (NASDAQ: FAT) is a leading global franchising company that strategically acquires, markets and develops fast casual, quick-service, casual and polished casual dining restaurant concepts around the world. The Company currently owns 18 restaurant brands: Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli’s, Twin Peaks, Great American Cookies, Smokey Bones, Hot Dog on a Stick, Buffalo’s Cafe & Express, Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Native Grill & Wings, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses, and franchises and owns over 2,300 units worldwide. For more information on FAT Brands, please visit www.fatbrands.com.

About Fatburger

An all-American, Hollywood favorite, Fatburger is a fast-casual restaurant serving big, juicy, tasty burgers, crafted specifically to each customer’s liking. With a legacy spanning 70 years, Fatburger’s extraordinary quality and taste inspire fierce loyalty amongst its fan base, which includes a number of A-list celebrities and athletes. Featuring a contemporary design and ambiance, Fatburger offers an unparalleled dining experience, demonstrating the same dedication to serving gourmet, homemade, custom-built burgers as it has since 1952 – The Last Great Hamburger Stand™.

About Round Table Pizza

Inspired by the honor, valor, and revelry of the Knights of the Round Table, Round Table Pizza’s® superior pizza and commitment to quality and authenticity have earned the reputation of “Pizza Royalty™” for over 60 years. With more than 410 restaurants across the United States, Round Table celebrates community, family, and making merry. For more information, visit www.roundtablepizza.com.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the timing and performance of new store openings. Forward-looking statements generally use words such as “expect,” “foresee,” “anticipate,” “believe,” “project,” “should,” “estimate,” “will,” “plans,” “forecast,” and similar expressions, and reflect our expectations concerning the future. Forward-looking statements are subject to significant business, economic and competitive risks, uncertainties and contingencies, many of which are difficult to predict and beyond our control, which could cause our actual results to differ materially from the results expressed or implied in such forward-looking statements. We refer you to the documents that we file from time to time with the Securities and Exchange Commission, such as our reports on Form 10-K, Form 10-Q and Form 8-K, for a discussion of these and other risks and uncertainties that could cause our actual results to differ materially from our current expectations and from the forward-looking statements contained in this press release. We undertake no obligation to update any forward-looking statements to reflect events or circumstances occurring after the date of this press release.

MEDIA CONTACT:
Ali Lloyd, FAT Brands
alloyd@fatbrands.com
435-760-6168

Primary Logo

Source: FAT Brands Inc.

Luxury Retail Mergers and Acquisitions Reshape the Fashion Landscape

Posted on by cpatches

In a strategic move set to redefine the luxury retail sector, HBC, the parent company of Saks Fifth Avenue, announced plans to acquire Neiman Marcus Group for $2.65 billion. This landmark deal will pave the way for the formation of Saks Global, a powerhouse conglomerate encompassing Saks Fifth Avenue, Saks Off 5th, Neiman Marcus, and Bergdorf Goodman.

The acquisition comes amidst a turbulent period for brick-and-mortar retail, where consumer preferences have shifted towards experiential shopping over traditional goods. Luxury brands are increasingly bypassing department stores to establish direct connections with consumers through their own retail channels.

Marc Metrick, current CEO of Saks.com, will assume the role of CEO for the newly formed Saks Global, while Ian Putnam, President and CEO of HBC Properties and Investments, will lead the property and investments division.

This merger, long speculated upon, is expected to bolster the combined entity’s negotiating power with luxury brands, potentially driving down costs. It also marks a strategic alliance with tech giants Amazon and Salesforce, both of which will hold minority stakes in the new company. Amazon’s involvement underscores its ambition to penetrate the luxury retail market, leveraging its technological prowess and logistical infrastructure.

In a separate development reported by the Wall Street Journal, Arkhouse and Brigade Capital have increased their buyout offer for Macy’s to $6.9 billion. This revised bid represents a significant premium of nearly 43% over Macy’s closing price in December 2023, when the talks began. The proposal aims to acquire all outstanding Macy’s shares at $24.80 per share, indicating confidence in Macy’s potential despite its recent challenges.

Macy’s, facing declining sales and market share, has responded with store closures and strategic overhauls. Another option, taking the company private, could provide the flexibility needed to execute its turnaround plan away from the pressures of public markets.

Recent activity, and proposed activity, in the space highlights luxury brands trying to reposition themselves to survive in an ever-evolving consumer landscape that sees more and more consumers turning to online purchases and direct-to-consumer interaction. At the same time, it shows that many experts see the potential for a turnaround.

Gain more insight on the current, and future, state of the consumer, media, and tech sectors straight from the executives. Watch the replays from Noble’s recent virtual equity conference.