Consumer Archives - Page 12 of 29

ACCO Brands (ACCO) – Fourth Quarter First Look

Posted on February 23, 2024February 23, 2024 by cpereira@noblefcm.com

Friday, February 23, 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, 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.

A Mixed Fiscal Year. A weaker macroenvironment globally, mixed with softer technology demand, lower than anticipated return to office trends and, in some quarters, a stronger U.S. dollar led to a decline in net sales from the prior year. However, increases in the Company’s gross and operating margin is attributable to management’s cumulative global price increases and cost reduction initiatives. With the recent announcement of a multi-year restructuring and cost savings program, we expect these increases to continue over the next year.

Results. Net sales for the fourth quarter were $488.6 million compared to $499.4 million last year and above our estimate of $475 million. Comparable sales decreased 4.6%. Net loss for ACCO was $59.4 million, or $0.62/sh, compared to net income of $18.8 million, or $0.20/sh, last year. An $89.5 million impairment charge and an increase in restructuring charges were the primary drivers of the 4Q23 loss. Adjusted net income was $37.5 million, or $0.39 per share, compared with $30.5 million, or $0.32, in 2022.

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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.

FAT Brands (FAT) – Company Receives Wells Notice

Posted on February 21, 2024February 21, 2024 by cpereira@noblefcm.com

Wednesday, February 21, 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, 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.

Wells Notice. In an 8-K filed yesterday, FAT Brands reported that the Company, Chairman Andrew Wiederhorn, and one current and one former officer of the Company each received a Wells Notice from the staff of the SEC. The notice is related to the previously disclosed SEC investigation of the Company. The Company continues to cooperate with the SEC and maintains its actions were appropriate, and intends to pursue the Wells Notice process, including submitting a formal response to the SEC.

What Is a Wells Notice? According to the Cornell Law School Legal Information Institute, “A ‘Wells Notice’ is a letter sent by a securities regulator to a prospective respondent, notifying him of the substance of charges that the regulator intends to bring against the respondent, and affording the respondent with the opportunity to submit a written statement to the ultimate decision maker.”

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

Release – Xcel Brands Announces Participation In Noble Capital Markets C-Suite Interview Series

Posted on February 20, 2024February 20, 2024 by aweinsoff@channelchek.com

Research News and Marketing Data on XELB

February 20, 2024 at 8:00 AM EST

PDF Version

NEW YORK, Feb. 20, 2024 (GLOBE NEWSWIRE) — Xcel Brands, Inc. (NASDAQ: XELB), a media and consumer products company with expertise in livestream shopping and social commerce, announced their participation in Noble Capital Markets’ C-Suite Interview Series, presented by Channelchek.

Xcel Brands CEO, Robert D’Loren, sat down with Noble Capital Markets Senior Research, Michael Kupinski, for this exclusive two-part series. Topics covered include:

Part one, Xcel Brands CEO Robert D’Loren provides a corporate overview, discussing Xcel’s core business model, their brands, key revenue figures, current financial outlook, and their new e-commerce platform, ORME. Learn more on Xcel Brands here.
Part two highlights the launch of ORME, a next generation short form video marketplace, which will become a game changer in the social influencer marketplace. Learn more on ORME here.

The interview was recorded on February 1, 2024, and is available now on Channelchek.

About Xcel Brands

Xcel Brands, Inc. (NASDAQ: XELB) is a media and consumer products company engaged in the design, marketing, live streaming, social commerce sales of branded apparel, footwear, accessories, fine jewelry, home goods and other consumer products, and the acquisition of dynamic consumer lifestyle brands. Xcel was founded in 2011 with a vision to reimagine shopping, entertainment, and social media as one thing. Xcel owns the Judith Ripka, Halston, LOGO by Lori Goldstein, and C. Wonder by Christian Siriano brands and a minority stake in the Isaac Mizrahi brand. It also owns and manages the Longaberger brand through its controlling interest in Longaberger Licensing LLC and a 50% interest in a JV in TWRHLL (“Tower Hill”) by Christie Brinkley. Xcel is pioneering a true modern consumer products sales strategy which includes the promotion and sale of products under its brands through interactive television, digital live-stream shopping, social commerce, brick-and-mortar retail, and e-commerce channels to be everywhere its customer’s shop. The company’s brands have generated in excess of $4 billion in retail sales via livestreaming in interactive television and digital channels alone. Headquartered in New York City, Xcel Brands is led by an executive team with significant live streaming, production, merchandising, design, marketing, retailing, and licensing experience, and a proven track record of success in elevating branded consumer products companies. www.xcelbrands.com.

About ORME

ORME is based in New York and is a next generation short form video marketplace inspiring our users through honest and authentic content created by shoppers, creators, influencers and brands wherever they create, watch, listen, connect and socialize in the digital universe. ORME was cofounded by Xcel Brands and KonnectBio, Inc.

ORME is committed to evolving through innovations in technology including the major application of AI, making deep connections with our users and community and providing opportunity to all in the retail commerce flywheel. ORME makes the everyday shopper a paid influencer. www.ormelive.com

About Noble Capital Markets

Noble Capital Markets, Inc. was incorporated in 1984 as a full-service SEC / FINRA registered broker-dealer, dedicated exclusively to serving underfollowed small / microcap companies through investment banking, wealth management, trading & execution, and equity research activities. Over the past 37 years, Noble has raised billions of dollars for these companies and published more than 45,000 equity research reports. www.noblecapitalmarkets.com email: contact@noblecapitalmarkets.com

About Channelchek

Channelchek (.com) is a comprehensive investor-centric portal – featuring more than 6,000 emerging growth companies – that provides advanced market data, independent research, balanced news, video webcasts, exclusive c-suite interviews, and access to virtual road shows. The site is available to the public at every level without cost or obligation. Research on Channelchek is provided by Noble Capital Markets, Inc., an SEC / FINRA registered broker-dealer since 1984. www.channelchek.com email: contact@channelchek.com

Source: Xcel Brands, Inc

Release – ACCO Brands Corporation Declares Quarterly Dividend

Posted on February 16, 2024February 16, 2024 by aweinsoff@channelchek.com

Research News and Market Data on ACCO

02/16/2024

LAKE ZURICH, Ill.–(BUSINESS WIRE)– ACCO Brands Corporation (NYSE: ACCO) today announced that its board of directors has declared a quarterly cash dividend of $0.075 per share. The dividend will be paid on March 27, 2024, to stockholders of record as of the close of business on March 15, 2024.

“This is the Company’s 25^th quarterly cash dividend since it began paying dividends in 2018. The Company’s dividend has become an important part of our capital allocation strategy and we remain committed to supporting our quarterly dividend with our robust free cash flow. At the current stock price, on an annualized basis, our shareholders are receiving a 5% yield on their investment,” said Tom Tedford, President, and Chief Executive Officer of ACCO Brands.

About ACCO Brands Corporation

ACCO Brands, the Home of Great Brands Built by Great People, designs, manufactures and markets consumer and end-user products that help people work, learn, play and thrive. 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.

Chris McGinnis
Investor Relations
(847) 796-4320

Kori Reed
Media Relations
(224) 501-0406

Source: ACCO Brands Corporation

Mortgage Rates Remain Elevated as Inflation Persists

Posted on February 15, 2024February 15, 2024 by slightbourne@noblecapitalmarkets.com

Mortgage rates have climbed over the past year, hovering around 7% for a 30-year fixed rate mortgage. This is significantly higher than the 3% rates seen during the pandemic in 2021. Rates are being pushed higher by several key factors.

Inflation has been the main driver of increased borrowing costs. The consumer price index rose 7.5% in January 2024 compared to a year earlier. While this was down slightly from December, inflation remains stubbornly high. The Federal Reserve has been aggressively raising interest rates to combat inflation. This has directly led to higher mortgage rates.

As the Fed Funds rate has climbed from near zero to around 5%, mortgage rates have followed. Additional Fed rate hikes are expected this year as well, keeping upward pressure on mortgage rates. Though inflation eased slightly in January, it remains well above the Fed’s 2% target. The central bank has signaled they will maintain restrictive monetary policy until inflation is under control. This means mortgage rates are expected to remain elevated in the near term.

Another factor pushing rates higher is the winding down of the Fed’s bond buying program, known as quantitative easing. For the past two years, the Fed purchased Treasury bonds and mortgage-backed securities on a monthly basis. This helped keep rates low by increasing demand. With these purchases stopped, upward pressure builds on rates.

The yield on the 10-year Treasury note also influences mortgage rates. As this yield has climbed from 1.5% to around 4% over the past year, mortgage rates have moved higher as well. Investors demand greater returns on long-term bonds as inflation eats away at fixed income. This in turn pushes mortgage rates higher.

With mortgage rates elevated, the housing market is feeling the effects. Home sales have slowed significantly as higher rates reduce buyer affordability. Prices are also starting to moderate after rapid gains the past two years. Housing inventory is rising while buyer demand falls. This should bring more balance to the housing market after it overheated during the pandemic.

For potential homebuyers, elevated rates make purchasing more expensive. Compared to 3% rates last year, the monthly mortgage payment on a median priced home is around 60% higher at current 7% rates. This prices out many buyers, especially first-time homebuyers. Households looking to move up in home size also face much higher financing costs.

Those able to buy may shift to adjustable rate mortgages (ARMs) to get lower initial rates. But ARMs carry risk as rates can rise substantially after the fixed period. Lower priced homes and smaller mortgages are in greater demand. Refinancing has also dropped off sharply as existing homeowners already locked in historically low rates.

There is hope that mortgage rates could decline later this year if inflation continues easing. However, most experts expect rates to remain above 6% at least through 2024 until inflation is clearly curtailed. This will require the Fed to maintain their aggressive stance. For those able to buy at current rates, refinancing in the future is likely if rates fall. But higher rates look to be the reality for 2024.

Release – The ODP Corporation to Announce Fourth Quarter and Full Year 2023 Results Wednesday, February 28, 2024

Posted on February 15, 2024February 15, 2024 by aweinsoff@channelchek.com

Research News and Market data on ODP

BOCA RATON, Fla.–(BUSINESS WIRE)–Feb. 14, 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 fourth quarter and full year 2023 financial results before the market open on Wednesday, February 28th, 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; Veyer, LLC; and Varis, Inc., 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240214104525/en/

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

Source: The ODP Corporation

Cocoa Prices Climb Before Valentine’s Day

Posted on February 14, 2024February 14, 2024 by slightbourne@noblecapitalmarkets.com

This Valentine’s Day, chocolate lovers may experience some sticker shock. Cocoa prices have soared to record highs, driving up the cost of sweets. While pricier candy may cause consternation, the cocoa boom offers key investing insights around commodities and consumer stocks.

The surge in cocoa futures to all-time highs comes as adverse weather hammered crops in major producing countries like Ghana and Ivory Coast. With chocolate a staple gift for Valentine’s Day, limited cocoa supplies are creating a supply-demand mismatch. This highlights the importance of monitoring key commodity markets for indications of inflationary pressures and consumer impacts.

While candy makers will pass on higher input costs, demand for affordable treats remains strong. In fact, chocolate has historically been recession-resistant as consumers seek small indulgences during tough times. This illustrates why careful stock picking among consumer stocks can pay dividends, even amid high inflation.

Major chocolate manufacturers like Hershey and Mondelez have pricing power to maintain margins amid commodity inflation. Their brand recognition and dominance in impulse buy categories like candy help sustain volumes.

However, these companies still face risks from consumers trading down to cheaper alternatives. Investors should assess how they are adapting their product mix and packaging to maintain appeal. Companies keeping prices restrained and managing costs may fare better.

Hershey has invested in upgrading its Reese’s brand through new flavors and packaging while Mondelez has expanded its premium offerings. Their balance of classic candies and innovative products helps broaden their consumer base.

Further down the value chain, cocoa suppliers and traders like Cargill and Barry Callebaut play an outsized role in global chocolate production. They benefit from rising commodity prices but face risks if high prices reduce demand. Their processing capabilities, logistics infrastructure and long-term contracts provide resilience.

Take a moment to take a look at 1-800-Flowers.com, a leading e-commerce provider of gifts designed to help inspire customers to give more, connect more, and build more and better relationships.

Diversified commodities giants like Cargill can hedge their chocolate exposure through other segments. But more specialized players like Callebaut are doubling down – investing over $775 million to expand cocoa processing capacity amid the supply shortages.

Ingredient suppliers like Ingredion and Archer-Daniels-Midland could see higher demand for cocoa substitutes and chocolate alternatives as manufacturers reformulate products. Companies that adapt best to the changing industry trends can capture market share.

Ingredion produces specialty starches that can replace cocoa butter to lower costs. ADM offers cocoa replacers using grains like oats. With their R&D and patented technologies, they provide options for chocolate makers facing margin pressures.

For retailers, merchandising and promotions will be key to managing chocolate inventory this Valentine’s Day. Discount retailers like Dollar Tree and Dollar General selling smaller packaging at impulse price points may have an edge. Monitoring sales volumes and margins at leading retailers around holidays offers clues on consumer health.

Dollar stores appeal to budget-conscious shoppers when prices are high while prestige retailers like Godiva attract gift givers wanting luxury chocolates. Tracking consumer bifurcation across income levels provides insights on discretionary demand.

While Americans consume $22 billion in chocolate annually, it is still a cyclical agricultural commodity. Cocoa’s meteoric rise this year reminds investors not to overextend on consumer stocks when input costs are inflated. Monitoring commodity trends provides valuable context on margins and pricing power.

Consumer staples stocks shine brightest when they judiciously pass on costs while maintaining loyal brand recognition. Keeping pulse on consumer sentiment through holidays like Valentine’s Day informs on how discretionary some categories truly are.

Finally, analyzing the full supply chain offers unique angles, whether transporters fueling commerce, packaging tying together trends, or warehouses at the nucleus of distribution. Even when commodity markets look frothy, the diversified ecosystem supporting consumer spending reveals pockets of value.

So this Valentine’s Day, both candy lovers and investors have something to take away from cocoa’s climb. While chocolate prices may be testing appetites, they represent just one ingredient in a recipe for long-term returns.

Release – Marble Slab Creamery Strengthens Foothold in Canada with 40-Unit Development Deal

Posted on February 12, 2024February 12, 2024 by aweinsoff@channelchek.com

Research News and Market Data on FAT

02/12/2024

Leading Ice Cream Chain to Grow Presence in Country to 140 Units

LOS ANGELES, Feb. 12, 2024 (GLOBE NEWSWIRE) — FAT (Fresh. Authentic. Tasty.) Brands Inc., parent company of Marble Slab Creamery and 17 other restaurant concepts, announces a new development deal set to open 40 new Marble Slab Creamery franchised locations throughout Canada in partnership with Canadian Ice Cream Company Inc. The Marble Slab Creamery locations are set to open over the next 10 years, with the first of the new locations slated to open by the end of 2024. The development deal will bolster the brand’s presence from approximately 100 stores that are operating today in the country to 140 units.

“We are very pleased with the continued market growth in Canada with our experienced master franchise partner, Canadian Ice Cream Company Inc.,” said Taylor Wiederhorn, Chief Development Officer of FAT Brands. “Since entering the country nearly 20 years ago, Marble Slab Creamery has made a name for itself. Our homemade ice cream and unlimited mix-in philosophy resonate with fans and our franchisees as we continue to expand the concept across Canada and the world.”

For nearly 40 years, Marble Slab Creamery has been an innovator in the ice cream space, dreaming up the frozen slab technique and offering homemade, small-batch ice cream with free unlimited mix-ins, shakes in a variety of flavors, and ice cream cakes.

For more information on Marble Slab Creamery, visit www.marbleslab.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 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 fatbrands.com.

About Marble Slab Creamery
Since dreaming up the frozen slab technique and serving fresh homemade, small-batch ice cream in-store since 1983, Marble Slab Creamery has always known how to dream big. We sprinkle our customers with imagination and promise to inspire with infinite ice cream possibilities to feed your curiosity and capture cravings. With our free unlimited mix-in philosophy, delicious ice cream and shakes in a variety of flavors, hand-rolled waffle cones, and ice cream cakes, imagination has no limits. Today, Marble Slab Creamery is enjoyed by consumers across the globe with locations in Bahrain, Bangladesh, Canada, Kuwait, Pakistan, Saudi Arabia, Guam, Puerto Rico, and the United States. For more information, visit www.marbleslab.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 and area development agreements. Forward-looking statements reflect expectations of FAT Brands Inc. (“we” or “our”) concerning the future and are subject to significant business, economic and competitive risks, uncertainties and contingencies. These factors are difficult to predict and beyond our control, and could cause our actual results to differ materially from those 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 factors. We undertake no obligation to update any forward-looking statement to reflect events or circumstances occurring after the date of this press release.

MEDIA C ONTACT :
Erin Mandzik, FAT Brands
emandzik@fatbrands.com
860-212-6509

Source: FAT Brands Inc.

What Investors Can Learn From the Super Bowl

Posted on February 12, 2024February 12, 2024 by slightbourne@noblecapitalmarkets.com

This Sunday, over 100 million viewers will tune in to the Super Bowl, the biggest single sporting event of the year. The Super Bowl is about more than just football – it’s a cultural phenomenon that offers some interesting parallels to the world of investing. Here are a few key lessons investors can take away from the gridiron action.

Do Your Research

Top NFL teams like the Chiefs and 49ers do endless hours of film study, analyzing their opponents’ strengths and weaknesses. Similarly, successful investors research companies thoroughly before buying shares. They dig into financial statements, study industry trends and competitive dynamics, and evaluate leadership. Just as teams dissect game tape, investors need to do their homework before putting money on the line.

Stick to Your Game Plan

NFL teams map out detailed game plans listing the plays and strategies they will employ against a given opponent. But when things go awry during a game, emotions can take over and teams may abandon their plan. Investors face the same challenge. When market volatility spikes, it’s easy to panic and stray from your investment strategy. But patience and trusting your game plan, like asset allocation and time horizons, tends to pay off in the long run.

Remember Past Performance Doesn’t Guarantee Future Success

The 49ers and Chiefs have been among the hottest teams this season. But past performance doesn’t guarantee victory in the Super Bowl. Likewise, investors should be wary of stocks that have recently soared. Valuations may already price in expected growth. And markets humbles previous high flyers all the time. Picking stocks based on long-term fundamentals rather than short-term momentum is the better bet.

Expect the Unexpected

From major injuries to fluke plays, the Super Bowl often hinges on unpredictable events. Investing also involves constant surprises that can disrupt even the most ironclad strategies. Political turmoil, natural disasters, new technologies – the market is always full of unknown unknowns. Having flexibility to adapt to unforeseen events helps minimize damage and take advantage of mispriced assets when volatility strikes.

Patience Is a Virtue

Building a championship roster takes years. Teams must strategically draft prospects, develop their skills, and assemble complementary pieces patiently over time. Becoming a successful investor also requires long-term commitment. There are few get-rich quick schemes that work. Compounding modest gains over decades through steady contributions is the surest path to building wealth. Keep your eyes on the long-term prize.

Minimize Costs and Taxes

NFL teams structure contracts and manage salary caps astutely to get the most bang for their buck. As an investor, costs and taxes also directly impact your net returns. Minimizing investment fees, trading commissions, and avoiding short-term capital gains taxes helps grow your portfolio. Every basis point counts.

Diversify Your Holdings

Smart NFL general managers build depth at every position. If injuries arise, the next player up can step in seamlessly. Similarly, investors should diversify across asset classes, sectors, geographies, and risk levels. If certain segments of the market decline, gains in other areas can offset the losses. Spreading your investments helps smooth out volatility.

Stay Disciplined and Stick to Your Strategy

The bright lights of the Super Bowl can cause teams to get away from their identity. The same thing happens to investors during periods of market turmoil. It’s crucial to stay disciplined, avoid emotional decisions, and stick to your long-term strategy even as others lose their nerve. Composure under pressure leads to victory.

Just as fans love dissecting every nuance of the big game, studying the market from all angles is key for investment success. Enjoy the Super Bowl, but also reflect on the winning lessons it provides for building wealth. Your portfolio will thank you.

1·800·Flowers.com, Inc. (FLWS) – Benefitting From Moderating Inflation

Posted on February 2, 2024February 2, 2024 by cpereira@noblefcm.com

Friday, February 02, 2024

For more than 45 years, 1-800-Flowers.com has offered truly original floral arrangements, plants and unique gifts to celebrate birthdays, anniversaries, everyday occasions, and seasonal holidays, and to deliver comfort during times of grief. Backed by a caring team obsessed with service, 1-800-Flowers.com provides customers thoughtful ways to express themselves and connect with the most important people in their lives. 1-800-Flowers.com is part of the 1-800-FLOWERS.COM, Inc. family of brands. Shares in 1-800-FLOWERS.COM, Inc. are traded on the NASDAQ Global Select Market, ticker symbol: FLWS.

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.

Adj. EBITDA exceeds expectations. The company had a solid Q2, even though revenue of $822.1 million was below our estimate of $830.1 million. Adj. EBITDA of $130.1 beat our estimate of $127.9 million, by 1.7%. Notably, the company’s cost reduction efforts and easing commodity costs have driven year-over-year gross margin improvement for 5 consecutive quarters.

Favorable margin outlook. The company reported strong gross margins of 43% in Q2, an improvement of 230 basis points from the prior year period. The favorable gross margin improvement was driven by lower in-bound shipping, labor and commodity costs. Notably, the company has made significant progress in returning gross margins to pre-pandemic levels in the low 40% range. Management indicated that there is still opportunities for moderating commodity prices.

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

ACCO Brands (ACCO) – New Cost Reduction Plan

Posted on January 31, 2024January 31, 2024 by cpereira@noblefcm.com

Wednesday, January 31, 2024

Joe Gomes, 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 Plan. ACCO announced a multi-year restructuring and cost savings program, with anticipated annualized pre-tax cost savings of at least $60 million. The Company expects to record a pre-tax restructuring charge for the period ended December 31, 2023 of approximately $13 million. This is in addition to a $9 million charge relating to the closure of the Sidney, NY facility. Total cash expenditures are expected to be $26 million with cash outflows of $18 million in 2024 and $8 million in 2025. The restructuring will better position the Company for long-term sustainable profitable growth, in our view, adding to the Company’s 2023 improvement in margins.

Details. The program incorporates initiatives to simplify and delayer the Company’s operating structure and reduce costs through headcount reductions, supply chain optimization, global footprint rationalization, and better leveraging of sourcing capabilities.

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

Release – ACCO Brands Corporation Announces Cost Reduction Program Targeting Annualized Pre-Tax Savings of at least $60 Million

Posted on January 30, 2024January 30, 2024 by aweinsoff@channelchek.com

Research News and Market Data on ACCO

01/30/2024

LAKE ZURICH, Ill.–(BUSINESS WIRE)– ACCO Brands Corporation (NYSE: ACCO) announces a multi-year restructuring and cost savings program, with anticipated annualized pre-tax cost savings of at least $60 million. The program incorporates initiatives to simplify and delayer the Company’s operating structure and reduce costs through headcount reductions, supply chain optimization, global footprint rationalization, and better leveraging of our sourcing capabilities. As a result of these actions, the Company will improve its speed of execution and bring key leaders closer to the customers. In connection with this program, the Company will file a Form 8-K with the SEC disclosing its restructuring charges.

“The actions we are announcing today will better position the Company for long-term sustainable profitable growth. The cost reduction actions, as well as a renewed focus on innovation and new product development, will provide fuel for reinvestment and an improved growth trajectory for the long-term. During 2023, we were able to restore the Company’s margin profile and strengthen the balance sheet despite a slow demand environment. Our preliminary results indicate that we ended the year with reported sales and cash flows above our previously communicated outlook. I remain confident in the long-term growth prospects of the Company given our geographically diverse operating platform and our collection of leading brands” said ACCO Brands’ President and Chief Executive Officer, Tom Tedford.

The Company will operate and report under two segments. The Americas reportable segment will include the U.S., Canada, Brazil, Mexico and Chile and the International reportable segment will include EMEA, Australia, New Zealand and Asia. The Company will report on this basis for the fiscal year commencing January 1, 2024.

As a result of the segment realignment, effective January 1, 2024, Cezary Monko has been appointed Executive Vice President and President of the International segment and Patrick Buchenroth, has been appointed Executive Vice President and President of the Americas segment. These leaders have a long-established, successful history with the Company.

The Company will provide additional details about the restructuring program during its upcoming fourth quarter and full year 2023 earnings call.

About ACCO Brands Corporation

ACCO Brands, the Home of Great Brands Built by Great People, designs, manufactures and markets consumer and end-user products that help people work, learn, play and thrive. 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.

Forward-Looking Statements

Statements contained in this press release, other than statements of historical fact, particularly statements relating to cost reductions and the anticipated pre-tax savings from the cost reduction program, restructuring costs, footprint rationalization, simplifying and streamlining our operations, reducing complexity, enhancing the speed of decision-making, leveraging our sourcing capabilities and the timing of implementation and completion of the cost reduction program, 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,” “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 many 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.

Factors that could affect our results or cause our plans, actions and results to differ materially from current expectations described in this press release include, among others, our ability to successfully execute the actions identified as part of the cost reduction program and realize the anticipated cost savings and operational synergies as well as 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, 2022, and in other reports we file with the SEC. Forward-looking statements should be considered in light of these 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.

Christopher McGinnis
Investor Relations
(847) 796-4320

Kori Reed
Media Relations
(224) 501-0406

Source: ACCO Brands Corporation

Release – The ODP Corporation Provides Leadership Update

Posted on January 30, 2024January 30, 2024 by aweinsoff@channelchek.com

Research News and Market Data on ODP

The ODP Corporation Provides Leadership Update

Gerry Smith to Return from Temporary Medical Leave and Resume CEO Role on February 1

David Szymanski, Long-Time Member of ODP’s Board of Directors, to Retire from the Board on February 13

BOCA RATON, Fla.–(BUSINESS WIRE)–Jan. 29, 2024– The ODP Corporation (“ODP” or the “Company”) (NASDAQ:ODP), a leading provider of business services, products and digital workplace technology solutions to businesses and consumers, today announced that, following his temporary medical leave, Mr. Gerry Smith will resume his position as Chief Executive Officer (“CEO”), effective February 1, 2024. Upon Mr. Smith’s return, Mr. Joseph S. Vassalluzzo, who had been appointed by the Company’s Board of Directors to assume Mr. Smith’s authority and responsibilities during his medical leave, will return to his sole role as independent non-executive Chairman of the Board.

Mr. Smith said, “I would like to thank everyone for the support they showed during my leave, and especially to Joe for stepping in and leading the Company during my absence. I am very excited about returning to the helm, and eager to continue driving our corporate transformation and maximizing value for our stakeholders.”

In addition, Dr. David Szymanski, a member of ODP’s Board of Directors, notified the Company of his intention to retire from the Board, with his resignation effective February 13, 2024. Dr. Szymanski has served as a director of the Company and its predecessor, OfficeMax Incorporated, since 2004.

Mr. Vassalluzzo said, “On behalf of the Board and the Company, I would like to thank David for his long, dedicated service to ODP. He has been a valued member of the Board with his extensive retail experience, and as he retires from the Board, we wish him well in his future pursuits.”

Dr. Szymanski said, “It has been a pleasure for me to serve on ODP’s Board over the last decade. With the Company well positioned for future growth, and supported by an exceptional leadership team, I feel that now is the right time for me to step aside and provide others with the opportunity to participate and contribute to this great company as it moves forward.”

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, a B2B digital procurement solution, online presence, and a network of Office Depot and OfficeMax retail stores. Through its operating companies ODP Business Solutions, LLC; Office Depot, LLC; Veyer, LLC; and Varis, Inc, 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. ©2023 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 may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements or disclosures may discuss goals, intentions and expectations as to future trends, plans, events, results of operations, cash flow or financial condition, the potential impacts on our business due to the unknown severity and duration of the COVID-19 pandemic, or state other information relating to, among other things, the Company, based on current beliefs and assumptions made by, and information currently available to, management. Forward-looking statements generally will be accompanied by words such as “anticipate,” “believe,” “plan,” “could,” “estimate,” “expect,” “forecast,” “guidance,” “expectations”, “outlook,” “intend,” “may,” “possible,” “potential,” “predict,” “project,” “propose” or other similar words, phrases or expressions, or other variations of such words. These forward-looking statements are subject to various risks and uncertainties, many of which are outside of the Company’s control. There can be no assurances that the Company will realize these expectations or that these beliefs will prove correct, and therefore investors and stakeholders should not place undue reliance on such statements.

Factors that could cause actual results to differ materially from those in the forward-looking statements include, among other things, highly competitive office products market and failure to differentiate the Company from other office supply resellers or respond to decline in general office supplies sales or to shifting consumer demands; competitive pressures on the Company’s sales and pricing; the risk that the Company is unable to transform the business into a service-driven, B2B platform that such a strategy will not result in the benefits anticipated; the risk that the Company will not be able to achieve the expected benefits of its strategic plans, including its strategic shift to maintain all of its businesses under common ownership; the risk that the Company may not be able to realize the anticipated benefits of acquisitions due to unforeseen liabilities, future capital expenditures, expenses, indebtedness and the unanticipated loss of key customers or the inability to achieve expected revenues, synergies, cost savings or financial performance; the risk that the Company is unable to successfully maintain a relevant omni-channel experience for its customers; the risk that the Company is unable to execute the Maximize B2B Restructuring Plan successfully or that such plan will not result in the benefits anticipated; failure to effectively manage the Company’s real estate portfolio; loss of business with government entities, purchasing consortiums, and sole-or limited-source distribution arrangements; failure to attract and retain qualified personnel, including employees in stores, service centers, distribution centers, field and corporate offices and executive management, and the inability to keep supply of skills and resources in balance with customer demand; failure to execute effective advertising efforts and maintain the Company’s reputation and brand at a high level; disruptions in computer systems, including delivery of technology services; breach of information technology systems affecting reputation, business partner and customer relationships and operations and resulting in high costs and lost revenue; unanticipated downturns in business relationships with customers or terms with the suppliers, third-party vendors and business partners; disruption of global sourcing activities, evolving foreign trade policy (including tariffs imposed on certain foreign made goods); exclusive Office Depot branded products are subject to additional product, supply chain and legal risks; product safety and quality concerns of manufacturers’ branded products and services and Office Depot private branded products; covenants in the credit facility; general disruption in the credit markets; incurrence of significant impairment charges; retained responsibility for liabilities of acquired companies; fluctuation in quarterly operating results due to seasonality of the Company’s business; changes in tax laws in jurisdictions where the Company operates; increases in wage and benefit costs and changes in labor regulations; changes in the regulatory environment, legal compliance risks and violations of the U.S. Foreign Corrupt Practices Act and other worldwide anti-bribery laws; volatility in the Company’s common stock price; changes in or the elimination of the payment of cash dividends on Company common stock; macroeconomic conditions such as higher interest rates and future declines in business or consumer spending; increases in fuel and other commodity prices and the cost of material, energy and other production costs, or unexpected costs that cannot be recouped in product pricing; unexpected claims, charges, litigation, dispute resolutions or settlement expenses; catastrophic events, including the impact of weather events on the Company’s business; the discouragement of lawsuits by shareholders against the Company and its directors and officers as a result of the exclusive forum selection of the Court of Chancery, the federal district court for the District of Delaware or other Delaware state courts by the Company as the sole and exclusive forum for such lawsuits; and the impact of the COVID-19 pandemic on the Company’s business. The foregoing list of factors is not exhaustive. Investors and shareholders should carefully consider the foregoing factors and the other risks and uncertainties described in the Company’s Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K filed with the U.S. Securities and Exchange Commission. The Company does not assume any obligation to update or revise any forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240129500786/en/

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

Source: The ODP Corporation