Category: Consumer

Release – Office Depot OfficeMax Partners with Dormify, a Leader in Dorm Room Essentials, to Ease Back-To-School Shopping and Logistics Across 200 Markets

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on ODP

From essential bed sheets and stylish accessories to sleek storage solutions and full room bundles — the Office Depot OfficeMax assortment of Dormify essentials will be accessible to students in stores and online, making it easier than ever to plan for move-in week.

BOCA RATON, Fla.–(BUSINESS WIRE)–Jun. 17, 2024– Office Depot is setting college students up for a successful 2024–2025 school year with its expanded collection of college dorm and school supplies in a new partnership with Dormify, a leader in dorm room decor and clever essentials. Students can shop an array of new stylish furniture and dorm room must-haves online at officedepot.com and in 200 stores.

“Our partnership with Dormify allows Office Depot OfficeMax to offer more college dorm supplies through our efficient and versatile shopping and shipping options,” said Kevin Moffitt, executive vice president of The ODP Corporation and president of Office Depot. “We’re passionate about enabling our customers’ educational goals, and providing students with the tools to be successful is an essential part of that mission. We are proud to empower students of all ages to thrive and positively impact the world.”

There are many ways to shop and ship beyond standard deliveries and in-store purchases. For those who plan ahead, Dormify products will be available in almost 200 stores throughout the summer with the option to ship to another store location for pickup in your college area during move-in. Students who buy online can take advantage of Office Depot’s free 20-minute in-store/curbside pickup or free delivery on orders over $35.

“The preparation for college move-in is rife with to-do lists, errands, and tasks. We’re committed to making the process as easy as possible by simplifying the logistics and have found a great partner in Office Depot,” says Amanda Zuckerman, co-founder of Dormify. “We’re thrilled that students and their families will have the opportunity to see, feel, and shop our products in-person at Office Depot in 200 markets that are around the corner from so many campuses. Students will also be able to place orders over the summer at a store near their hometown and have it ready for pickup at an Office Depot location near their school during move-in—a critical offering that we know our customers are requesting.”

The Dormify college dorm collection at Office Depot OfficeMax includes stylish storage and décor items that range from $15.99 to $309.99 such as best-sellers like eyelash fringe comforter and sham set, velvet flower-shaped pillow, 3-drawer cart with USB ports, twin XL bedding bundle, and much more.

Office Depot is giving 10 people a chance to try the new collection themselves with a dorm makeover. Now through June 24, enter for your chance to win a $500 Office Depot OfficeMax merchandise card to put towards a fully outfitted dorm room for the upcoming school year. No purchase necessary. Visit officedepot.com/giveaways to enter.

To see and shop the full collection of college dorm furniture and décor, please visit: www.officedepot.com/l/school-supplies/college-supplies.

About Office Depot
Office Depot, LLC, an operating company of The ODP Corporation, is a leading specialty retailer providing innovative products and services delivered through a fully integrated omnichannel platform of Office Depot and OfficeMax retail stores and an award-winning online presence, OfficeDepot.com, to support the productivity and organization of its small business, home office and education clients. Office Depot is committed to enabling its clients’ success, strengthening local communities and providing equal opportunities for all. For more information, visit officedepot.com, download the Office Depot app on your iPhone or Android and follow @officedepot on Facebook, Twitter, Instagram and TikTok.

Office Depot is a trademark of The Office Club, LLC. OfficeMax is a trademark of OMX, Inc. Any other product or company names mentioned herein are the trademarks of their respective owners.

About Dormify
Dormify is a college lifestyle and small-space decorating destination for the style-obsessed. Dormify simplifies the shopping experience for college students and post-grads by curating and creating exclusive products designed for small-space living without sacrificing style. Founded by Amanda Zuckerman and her mom, Karen, in 2011 when Amanda was in college, Dormify has become a trusted resource that makes outfitting your college dorm or apartment with everything you need (and want) stress-free and fun. Dormify has been highlighted by The New York Times, The Washington Post, Good Morning America, and The TODAY Show, and co-founder Amanda Zuckerman was named to Forbes “30 Under 30” list.

To learn more, visit dormify.com.

Jennifer Robins or Swati Joshi
Media Relations
mediarelations@officedepot.com

Source: Office Depot, LLC

Primo Water and BlueTriton Join Forces in $6.5B Healthy Hydration Mega-Merger

Posted on by slightbourne@noblecapitalmarkets.com

In a transformative move to build a dominant healthy hydration platform across North America, Primo Water Corporation and BlueTriton Brands have agreed to merge in an all-stock deal. The combination will create a new water industry juggernaut with over $6.5 billion in projected annual revenues from its diversified portfolio of bottled water, dispensers and delivery services.

The companies announced the definitive merger agreement on June 17th, under which Primo Water shareholders will own 43% of the new combined entity and BlueTriton shareholders will hold the remaining 57% stake. Upon closing, expected in the first half of 2025, the new company will boast significant scale and market presence as the leading pure-play healthy hydration business in North America.

Primo Water, based in Tampa, Florida, is a major provider of sustainable hydration solutions with a broad range of purified bottled waters sold through large format dispensers, watermakers and water refill stations. Its brand stable includes Primo Water, Crystal Springs, Mountain Valley and Sparkletts, among others.

BlueTriton, headquartered in Stamford, Connecticut, owns some of the most recognized regional spring water brands like Poland Spring, Deer Park, Ozarka, Ice Mountain, Zephyrhills and Arrowhead. Through its ReadyRefresh home and office delivery service, it also has a strong direct-to-consumer channel.

The combined company projects a staggering $1.5 billion in pro forma adjusted EBITDA for the 12 months ended March 2024, including an expected $200 million in annual cost synergies to be fully realized within three years post-close. Primo and BlueTriton anticipate over $565 million in adjusted free cash flow for that period.

The increased brand presence, diversified offerings across formats and price points, and enhanced distribution capabilities position the combined entity for sustained long-term growth in the healthy hydration space.

BlueTriton’s owner, private equity firm One Rock Capital Partners, sees the deal as creating an industry-leading healthy beverage platform with iconic American water brands that can capitalize on increasing consumer focus on health and wellness. The press release states it is “an important milestone” for the beverage category.

To help fund the integration, Primo Water plans to pay a special dividend of up to $133 million to its current shareholders prior to closing. The new entity intends to maintain Primo’s existing $0.36 per share annualized dividend policy initially.

The transaction, already approved by both companies’ boards, still requires regulatory approvals, a green light from Primo Water shareholders, and court approval of the legal arrangement. But if cleared as expected, the merged business projects a solid financial profile with forecasted leverage of 3.0x net debt to EBITDA at closing and a target to delever to 2.0-2.5x in the medium-term.

With beverage giants increasingly pushing into functional and better-for-you categories, the supercharged scale and brand diversity arising from the Primo-BlueTriton union could make for a powerful contender in capturing health-conscious consumer demand for enhanced, sustainable hydration options.

Learn about more emerging growth companies by attending Noble Capital Markets’ Consumer / TMT Virtual Equity Conference on June 26-27, 2024.

Apple Reclaims World’s Most Valuable Company Crown with Transformative AI Strategy

Posted on by slightbourne@noblecapitalmarkets.com

In the relentless battle for tech supremacy, Apple has reclaimed its throne, dethroning Microsoft as the world’s most valuable public company after unveiling an ambitious artificial intelligence roadmap. The iPhone maker’s market capitalization surged past $3.3 trillion on Wednesday, surpassing Microsoft’s $3.2 trillion valuation, as investors rallied behind Apple’s audacious AI vision.

For years, Apple had remained relatively muted about its artificial intelligence pursuits, even as rivals like Microsoft, Google, and OpenAI raced ahead with generative AI models and conversational assistants. However, the company’s silence was shattered at its Worldwide Developers Conference (WWDC) on Monday, where it unveiled “Apple Intelligence” – a sweeping initiative to infuse AI capabilities across its product ecosystem.

At the core of Apple’s AI strategy is a suite of generative AI features that will be deeply integrated into its software and hardware. From writing assistance in core apps like Mail and Notes to AI-powered image and emoji generation, Apple aims to make artificial intelligence a seamless part of its user experience. Crucially, many of these cutting-edge AI capabilities will be exclusive to the latest iPhone models, potentially driving a surge in device upgrades and sales – a phenomenon analysts are calling an “iPhone super cycle.”

But Apple’s ambitions extend far beyond consumer-facing features. The company also announced plans to integrate large language models developed by OpenAI, a company in which Microsoft is a major investor, into its products and services. This strategic partnership underscores the complex web of alliances and rivalries that are emerging in the AI race.

While Apple’s AI plans have garnered widespread enthusiasm, skeptics question whether the company’s walled garden approach can truly compete with the open ecosystems fostered by rivals like Microsoft and Google. Apple’s insistence on maintaining tight control over its platforms and data has long been a source of contention, and some analysts worry that this could hamper the company’s ability to develop cutting-edge AI models at scale.

Nevertheless, Apple’s AI announcement has sent shockwaves through the tech industry, reigniting the battle for market dominance and technological leadership. As the company leverages its vast resources, cutting-edge hardware, and loyal user base to integrate AI into its products, it is poised to reshape the tech landscape and solidify its position as a formidable force in the AI revolution.

The resurgence of Apple as the world’s most valuable company is a testament to the immense potential – and potential pitfalls – of artificial intelligence. While AI promises to revolutionize industries and reshape the way we live and work, it also raises complex ethical and societal questions that must be grappled with by tech giants and policymakers alike.

As the AI race intensifies, companies like Apple and Microsoft will not only be vying for market supremacy but also shouldering the responsibility of shaping the future of this transformative technology. From addressing issues of bias and privacy to navigating the ethical implications of AI, these tech titans will play a pivotal role in determining how this powerful technology is developed and deployed.

With its latest AI offensive, Apple has reasserted its position as a tech leader, but the battle for AI dominance is far from over. As the industry continues to evolve at a breakneck pace, the companies that can strike the right balance between innovation, ethics, and user trust will emerge as the true winners in this high-stakes race.

Emerging Growth Consumer / TMT Virtual Equity Conference

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QuantaSing Group Limited (QSG) – Taking a More Sober View

Posted on by cpereira@noblefcm.com


Friday, June 07, 2024

QuantaSing is a leading online service provider in China dedicated to improving people’s quality of life and well-being by providing lifelong personal learning and development opportunities. The Company is the largest service provider in China’s online adult learning market and China’s adult personal interest learning market in terms of revenue, according to a report by Frost & Sullivan based on data from 2022. By leveraging its proprietary tools and technology, QuantaSing offers easy-to-understand, affordable, and accessible online courses to adult learners under a variety of brands, including QiNiu, JiangZhen and QianChi, empowering users to pursue personal development. Leveraging its extensive experience in individual online learning services, the Company has also expanded its services to corporate clients including, among others, marketing services and enterprise talent management services.

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.

Q3 results disappoint. The company reported Q3 revenue of RMB945.6 million, beating our estimate of RMB860.0 million by 10%. But, adj. EBITDA in the quarter was RMB12.2 million, well below our recently lowered estimate of RMB86.0 million. Notably, the lower than expected adj. EBITDA was due to increased sales and marketing expenses, which likely influenced the revenues in the quarter.

Adjusting business strategy. The company plans to invest more heavily into its new growth verticals, such as e-commerce products geared towards its existing user base, including its private label Chinese liquor sales. Additionally, the company is investing in its overseas learning markets, and in-person teaching locations. 


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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. 

QuantaSing Group Limited (QSG) – Fiscal Q3 Preview

Posted on by cpereira@noblefcm.com


Wednesday, June 05, 2024

QuantaSing is a leading online service provider in China dedicated to improving people’s quality of life and well-being by providing lifelong personal learning and development opportunities. The Company is the largest service provider in China’s online adult learning market and China’s adult personal interest learning market in terms of revenue, according to a report by Frost & Sullivan based on data from 2022. By leveraging its proprietary tools and technology, QuantaSing offers easy-to-understand, affordable, and accessible online courses to adult learners under a variety of brands, including QiNiu, JiangZhen and QianChi, empowering users to pursue personal development. Leveraging its extensive experience in individual online learning services, the Company has also expanded its services to corporate clients including, among others, marketing services and enterprise talent management services.

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

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

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

A shift in business strategy. We believe the company plans to invest more heavily into its new growth verticals, such as e-commerce (private label Chinese liquor sales), overseas learning markets, and in-person teaching locations. This is a shift in its priority from its online adult learning services business, which appears to be maturing. As such, we are adjusting our revenue and cash flow outlook for the company. 

Fiscal Q3 preview. We are lowering our fiscal Q3 revenue forecast from RMB930.0 million to RMB860.0 million because of anticipated slower revenue growth in its online learning business. Adj. EBITDA is expected to be slightly better than our previous estimate. 


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 – The ODP Corporation Announces Board Changes

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on ODP

Proven Finance Executives Amy Schioldager and Evan Levitt to Join the Board

Wendy Schoppert Appointed Board Chair

BOCA RATON, Fla.–(BUSINESS WIRE)–Jun. 3, 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 the appointment of financial executives Amy Schioldager and Evan Levitt to its Board of Directors.

The Company also announced that Wendy Schoppert, ODP Board member since 2020, will assume the role of independent Board Chair as Joseph Vassalluzzo steps down from the Board after 11 years of service.

These changes will be effective on June 10, 2024. ODP’s Board size will be increased from seven members to eight, with directors having an average tenure of approximately five years.

“We are thrilled to welcome Amy and Evan to the ODP Board at this juncture, as we continue to evolve our business and position our Company to drive future profitable growth,” said Wendy Schoppert, Chair-Elect of the Board. “They bring valuable perspectives to further enhance the diverse skills of our Board, advance our value creation initiatives, and champion the continued growth of our strong 5C Culture.”

“Both Amy and Evan are proven financial executives with decades of leadership experience at Fortune 500 companies,” Schoppert continued. “With 25 years of experience at BlackRock, Amy brings technical and strategic expertise, having led investment teams across markets and segments, and has deep shareholder and public company governance experience. Evan has extensive financial and audit expertise across industries, as well as a strong understanding of distribution and consumer businesses. We look forward to leveraging their unique backgrounds as we continue to focus on driving long-term profitable growth and shareholder value.

“We would also like to thank Joe for his Board service, including as independent Chairman for the past seven years. His leadership and insight have been instrumental through ODP’s evolution. We wish him all the best in the future,” Schoppert concluded.

About Amy Schioldager

Amy has over 25 years of experience in various leadership positions at BlackRock, Inc., where she led investment teams across global equity markets and client segments. Most recently, Amy served as Senior Managing Director and Global Head of Beta Strategies. In this role, she oversaw $2.5 trillion in assets under management across seven global offices. She also served on BlackRock’s Global Executive Committee, which oversaw $11 billion in profit and loss and 13,000 employees across 30 countries. In addition to her investment and business leadership experience, Amy has strong board experience: she currently serves on the public company boards of Intermediate Capital Group plc and Corebridge Financial Inc, as well as the private organization boards of Boardspan Inc and California State University – East Bay. She previously served on the board of American International Group Inc.

About Evan Levitt

Evan brings over 30 years of experience in finance and accounting and has served in numerous leadership positions across industries. Most recently, Evan was Interim Executive Vice President and Chief Financial Officer at BrandSafway, a leading construction company providing solutions to the industrial, commercial and infrastructure markets. Prior to that, he held various leadership roles at The Home Depot, Inc. / HD Supply Holdings over the course of 17 years, during which time he played a pivotal role in negotiating the sale of HD Supply to The Home Depot, Inc. His most recent role at the company was as Senior Vice President, Chief Financial Officer, Chief Administrative Officer of HD Supply Holdings Inc. He currently serves on the private company boards of Artera Services, where he is a member of the Audit Committee, and WASH, where he serves as the Chairman of the Audit and Risk Committee.

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.

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

Source: The ODP Corporation

Xcel Brands (XELB) – A Growth Focus

Posted on by cpereira@noblefcm.com


Thursday, May 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.

Sells LOGO. The company announced on May 24th that it has an agreement to sell its Lori Goldstein (LOGO) assets to Lori Goldstein for an undisclosed amount. As a part of the agreement, the company waives the rights to the unpaid portion of the earn-out for 2023 and a pro rata portion of the earn-out payments for 2024. The sales is expected to be completed by June 21, 2024. 

Move viewed favorably. The brand had been waning post Covid given scheduling conflicts with Lori Goldstein and her appearances on QVC. In our view, the move will allow the company to focus on its developing brands including C. Wonder and the recently launched Christie Brinkley’s Towerhill brand. Christie Brinkley is expected to be support her products by her strong social media presence. 


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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. 

Lifeway Foods (LWAY) – Sell-Off Overdone, Raising to Outperform

Posted on by cpereira@noblefcm.com


Thursday, May 30, 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.

Moving to Outperform. We are raising our rating on LWAY shares to Outperform from Market Perform, with a $20 price target. LWAY shares fell from a 52-week high of $28.61 on May 10th to $15.19 as of yesterday’s close. We believe the sell-off to be too swift and dramatic given the Company’s recent strong operating performance.

Behind the Decline. Without any news to point to, we believe a combination of factors caused the stock price decline. First is as simple as profit taking. Second is the insider selling. Since the beginning of May, both Ludmila and Julie Smolyansky have sold shares of LWAY. Third, a change in sentiment regarding a possible sale of the Company. And fourth, projected increased milk prices, a key component of COGS.


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 – QuantaSing to Report Third Fiscal Quarter Financial Results on June 6, 2024

Posted on by aweinsoff@channelchek.com

Research News and Market Data on QSG

May 29, 2024

PDF Version

BEIJING, May 29, 2024 (GLOBE NEWSWIRE) — QuantaSing Group Limited (NASDAQ: QSG) (“QuantaSing” or the “Company”), a leading online learning service provider in China, today announced that it plans to release its unaudited financial results for the quarter ended March 31, 2024, before the U.S. market opens on Thursday, June 6, 2024.

The Company’s management will hold an earnings conference call at 07:00 A.M. Eastern Time on Thursday, June 6, 2024 (07:00 P.M. Beijing Time on the same day) to discuss the financial results.

Listeners may access the call by dialing the following numbers:
International:
United States Toll Free:
Mainland China Toll Free: 
Hong Kong Toll Free:
Conference ID:		1-412-902-4272
1-888-346-8982
4001-201203
800-905945
QuantaSing Group Limited
  
The replay will be accessible through June 13, 2024 by dialing the following numbers:
International:
United States Toll Free:
Replay Access Code:		1-412-317-0088
1-877-344-7529
7529094
  

A live and archived webcast of the conference call will also be available at the Company’s investor relations website at https://ir.quantasing.com.

About QuantaSing Group Limited
QuantaSing is a leading online service provider in China dedicated to improving people’s quality of life and well-being by providing lifelong personal learning and development opportunities. The Company is the largest service provider in China’s online adult learning market and China’s adult personal interest learning market in terms of revenue, according to a report by Frost & Sullivan based on data from 2022. By leveraging its proprietary tools and technology, QuantaSing offers easy-to-understand, affordable, and accessible online courses to adult learners under a variety of brands, including QiNiu, JiangZhen, and QianChi, empowering users to pursue personal development. Leveraging its extensive experience in individual online learning services, the Company has also expanded its services to corporate clients including, among others, marketing services and enterprise talent management services.

For more information, please visit: https://ir.quantasing.com.

Contact
Investor Relations
Leah Guo
QuantaSing Group Limited
Email: ir@quantasing.com
Tel: +86 (10) 6493-7857

Robin Yang, Partner
ICR, LLC
Email: QuantaSing.IR@icrinc.com
Phone: +1 (212) 537-0429

Public Relations
Brad Burgess, Senior Vice President
ICR, LLC
Email: Brad.Burgess@icrinc.com

Release – The ODP Corporation Releases 2024 Sustainability Report

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on ODP

Report Presents the Company’s Environmental, Social and Governance (ESG) Practices and Goals

BOCA RATON, Fla.–(BUSINESS WIRE)–May 22, 2024– The ODP Corporation (“ODP,” or the “Company”) (NASDAQ:ODP), a leading provider of products and services through an integrated business-to-business (B2B) distribution platform and omnichannel presence, today announced the release of its 2024 Corporate Sustainability Report, providing information on the Company’s sustainability practices and goals.

“I am excited to share our accomplishments and vision in our latest report for our People, Planet, and Prosperity—our triple bottom line approach to sustainability—with a strong focus on our 5C Culture,” said Gerry Smith, chief executive officer for The ODP Corporation. “We’re proud of our progress toward our sustainability commitments and goals and we will continue working toward creating a sustainable future for our company, our communities, and our planet.”

The 2024 Corporate Sustainability Report presents the Company’s notable achievements from 2023 and ongoing commitment to achieving its sustainability goals, supporting customers in meeting their sustainability commitments and making positive contributions to local communities. Accomplishments highlighted in the 2024 report include:

  • Achieved a 36% reduction in greenhouse gas (GHG) emissions from 2019 (MT CO2e Scopes 1 and 2)
  • Calculated our full scope of GHG inventory for the second year, which helped us set science-based targets and have them validated by SBTi
  • Delivered a 6.7% blended absolute plastic reduction in private label packaging and e-commerce shipping operations in 2023 from a 2022 baseline
  • Diverted 92% of waste from landfills across our distribution center network
  • Raised $5.6 million through in-store and online donations, powered by Round It Up America®, to support Title I public schools

To view the complete 2024 Corporate Sustainability Report or for more information about sustainability at The ODP Corporation, please visit theodpcorp.com/corporate-sustainability.

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 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. ©2024 Office Depot, LLC. All rights reserved. Any other product or company names mentioned herein are the trademarks of their respective owners.

Jennifer Robins
Media Relations
Jennifer.Robins@theodpcorp.com

Swati Joshi
Media Relations
Swati.Joshi@theodpcorp.com

Source: The ODP Corporation

Xcel Brands (XELB) – Revenue Momentum Appears To Be Building

Posted on by cpereira@noblefcm.com


Tuesday, May 21, 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.

Weak start to the year, largely expected. Q1 revenues declined 63% to $2.2 million, in line with our expectations. The revenue decline reflected the absence of merchandise sales as the company shifted toward a capital light, licensing model. The full benefits of this shift is expected to be reflected in second half results. Adj. EBITDA loss of $1.6 million was a little heavier than our $1.1 million loss estimate. 

Let go of the LOGO? The soft licensing revenue, which was down 1.7% yoy to $2.2 million reflected, in part, challenged revenue at LOGO by Lori Goldstein. LOGO sales have struggled, flat yoy in the quarter, as the popular talent has had scheduling issues and has not returned to regular studio production. Management indicated that it is exploring the disposition of 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. 

Lifeway Foods (LWAY) – Another Record Quarter

Posted on by cpereira@noblefcm.com


Wednesday, May 15, 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.

Continued Growth. The first quarter marked another quarter of net sales growth for Lifeway, the 18th consecutive quarter to do so. The quarter was also the 4th in a row of recording record net sales. The record quarter is coupled with an improved gross margin from the prior year, flowing through to an improved net income. We believe the continued growth is a testament to management’s strategy in marketing its products and investments made towards production efficiency.

Another Record. Net sales were $44.6 million, a new record for Lifeway, from $38.9 million in the previous year and above our estimate of $43 million. Gross margin was 25.8% from 21.7% last year. Net income totaled $2.4 million, or $0.16 per diluted share, compared to $0.8 million, or $0.06, in the prior year. We estimated net income of $3.6 million, or $0.24 per diluted share.


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

FAT Brands (FAT) – First Step To A Twin Peaks IPO

Posted on by cpereira@noblefcm.com


Wednesday, May 15, 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.

Filing. FAT Brands announced the operating unit for Twin Peaks (TP) and Smokey Bones (SB) confidentially submitted a registration statement to the SEC to become a standalone public reporting company. While timing and completion of an IPO of the units is subject to numerous conditions, this is a first step.

Confidential? The SEC permits issuers to submit draft registration statements relating to IPOs for review by the SEC staff on a confidential basis. The confidential submission process is intended to give issuers more flexibility to plan their offerings and reduce the potential for lengthy exposure to market fluctuations that can adversely affect an offering. It is our understanding that a confidential filing allows the issuer to defer the public disclosure of sensitive commercial and financial information.


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.