Tag: Consumer

Commercial Vehicle Group (CVGI) – First Look at 2Q24

Posted on by cpereira@noblefcm.com


Tuesday, August 06, 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.

Still Challenging. 2Q24 revenue declined 12.3% y-o-y to $229.9 million due to softening global customer demand. We had projected $237.5 million. Operating income was $0.8 million and adjusted operating income totaled $5.7 million, down 65.9% y-o-y. CVGI reported a net loss of $1.6 million, or $0.05/sh, and adjusted net income of $2.1 million, or EPS of $0.06. We had forecast adjusted EPS of $0.21. Adjusted EBITDA of $10 million was down 51.9% y-o-y and short of our $16 million estimate.

Drivers. Second quarter results were challenged due to multiple factors. In particular, continued softening in the construction and agricultural end markets and reduced volumes in new business win launches, impacting the key growth segment in Electrical Systems. CVG also experienced operational inefficiencies in the Vehicle Solutions segment resulting from a new product launch with a major customer across multiple sites, as well as activities to prepare the Cab Structures business for sale.


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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. 

ACCO Brands (ACCO) – 2Q 2024: A Closer Look

Posted on by cpereira@noblefcm.com


Monday, August 05, 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.

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

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

Segment results. Americas revenue totaled $292.3 million in Q2, a decrease of 13.1% from the prior year period. Comparable sales were down 12.7%. International revenue was $146.0 million in Q2, a decrease of 7.1% from the prior period. Comparable sales decreased 5.1%. While revenue was modestly below our estimates, largely due to soft demand for business and consumer office products and a shift from lower margin products, we believe the Company’s outlook is favorable.

Cost reduction efforts. The company made significant progress towards its cost reduction target of $60 million in annualized savings, with $10 million in cost reductions realized so far this year, and $20 million of savings expected for full year 2024. Notably, the Company reduced inventory levels by 17% from the prior year with its technology enabled SKU rationalization.


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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. 

Commercial Vehicle Group (CVGI) – A Strategic Sale

Posted on by cpereira@noblefcm.com


Friday, August 02, 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.

Cab Structures. Yesterday, after the market close, Commercial Vehicle Group (CVG) announced the sale of its Kings Mountain, NC Cab Structures business. This is another step in the Company’s strategic plan to lessen the impact of the highly cyclical Class 8 truck business.

Details. Net proceeds of the transaction are expected to be $40 million, with closure in the second half of 2024. We expect the majority of the net proceeds to be used for debt paydown and other general corporate purposes. CVG did not release unit financial performance, but we do expect management to update its full-year 2024 outlook to reflect the impact of the business unit divesture during its 2Q24 earnings conference call on August 6th.


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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. 

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. 

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.


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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. 

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.


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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) – 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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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 – SKYX Announces Production of its New Global Patented Advanced, Smart, Plug & Play Recessed Light

Posted on by aweinsoff@channelchek.com

Research News and Market Data on SKYX

The Global Recessed Light Market is a Multi-Billion Unit Market

As SKYX Continues to Grow its Market Penetration it Expects its Recessed Light to Significantly Contribute to Growth

SKYX’s New Plug & Play Recessed Light Global Patents include the U.S., China, Canada, Hong-Kong and Mexico

MIAMI, July 11, 2024 (GLOBE NEWSWIRE) — SKYX (NASDAQ: SKYX) (d/b/a “SKYX Technologies”), a highly disruptive smart platform technology company with over 94 issued and pending patents in the U.S. and globally, and which owns over 60 lighting and home décor websites with a mission to make homes and buildings become smart, safe, and advanced as the new standard announced today that it will start production of its new global patented advanced, smart, plug & play recessed light.

The global recessed light market is a multi-billion-unit market. SKYX’s new Plug & Play recessed light global patents include the U.S., China, Canada, Hong-Kong and Mexico.

As billions of recessed lights are installed globally with hazardous electrical wires, SKYX’s recessed light solution enables an advanced, simple Plug & Play installation that saves time, cost and lives.

SKYX’s Plug & Play recessed lights can be controlled through SKYX’s App, Voice Control and Phone and works with Apple’s Siri, Amazon Alexa, Google Home and Samsung.

SKYX’s Total Addressable Market (TAM) of over $500 billion with its robust versatile U.S. and global patent portfolio creates tremendous company value and brings the company’s patent portfolio to a total of over 94 issued and pending patents, 36 of which are issued patents covering SKYX’s advanced Plug and Play and smart home platform technologies for safety, smart home, AI, electrical, lighting and ceiling fan industries.

Rani Kohen, Founder and Executive Chairman of SKYX Platforms, said, “We are happy to announce that we will start production of our new patented and advanced, smart, plug and play recessed lights. Our global robust intellectual property portfolio in the critical areas of our advanced safe, smart homes and sensor technologies, position SKYX as a leading technology provider of advanced smart home platform solutions for the smart home, AI, electrical, lighting and ceiling fan industries.”

About SKYX Platforms Corp.

As electricity is a standard in every home and building, our mission is to make homes and buildings become safe-advanced and smart as the new standard. SKYX has a series of highly disruptive advanced-safe-smart platform technologies, with over 94 U.S. and global patents and patent pending applications. Additionally, the Company owns over 60 lighting and home decor websites for both retail and commercial segments. Our technologies place an emphasis on high quality and ease of use, while significantly enhancing both safety and lifestyle in homes and buildings. We believe that our products are a necessity in every room in both homes and other buildings in the U.S. and globally. For more information, please visit our website at https://skyplug.com/ or follow us on LinkedIn.

Forward-Looking Statements

Certain statements made in this press release are not based on historical facts, but are forward-looking statements. These statements can be identified by the use of forward-looking terminology such as “aim,” “anticipate,” “believe,” “can,” “could,” “continue,” “estimate,” “expect,” “evaluate,” “forecast,” “guidance,” “intend,” “likely,” “may,” “might,” “objective,” “ongoing,” “outlook,” “plan,” “potential,” “predict,” “probable,” “project,” “seek,” “should,” “target” “view,” “will,” or “would,” or the negative thereof or other variations thereon or comparable terminology, although not all forward-looking statements contain these words. These statements reflect the Company’s reasonable judgment with respect to future events and are subject to risks, uncertainties and other factors, many of which have outcomes difficult to predict and may be outside our control, that could cause actual results or outcomes to differ materially from those in the forward-looking statements. Such risks and uncertainties include statements relating to the Company’s ability to successfully launch, commercialize, develop additional features and achieve market acceptance of its products and technologies and integrate its products and technologies with third-party platforms or technologies; the Company’s efforts and ability to drive the adoption of its products and technologies as a standard feature, including their use in homes, hotels, offices and cruise ships; the Company’s ability to capture market share; the Company’s estimates of its potential addressable market and demand for its products and technologies; the Company’s ability to raise additional capital to support its operations as needed, which may not be available on acceptable terms or at all; the Company’s ability to continue as a going concern; the Company’s ability to execute on any sales and licensing or other strategic opportunities; the possibility that any of the Company’s products will become National Electrical Code (NEC)-code or otherwise code mandatory in any jurisdiction, or that any of the Company’s current or future products or technologies will be adopted by any state, country, or municipality, within any specific timeframe or at all; risks arising from mergers, acquisitions, joint ventures and other collaborations; the Company’s ability to attract and retain key executives and qualified personnel; guidance provided by management, which may differ from the Company’s actual operating results; the potential impact of unstable market and economic conditions on the Company’s business, financial condition, and stock price; and other risks and uncertainties described in the Company’s filings with the Securities and Exchange Commission, including its periodic reports on Form 10-K and Form 10-Q. There can be no assurance as to any of the foregoing matters. Any forward-looking statement speaks only as of the date of this press release, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by U.S. federal securities laws.

Investor Relations Contact:

Jeff Ramson

PCG Advisory

jramson@pcgadvisory.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/38d19cf4-206c-442a-929e-44b6ac9a340b

A video accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4166d320-d532-4157-8c72-ede4456a00bd

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

Download(opens in new window)

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.

From Crypto to Computing: Bit Digital’s AI Pivot Pays Off Big

Posted on by slightbourne@noblecapitalmarkets.com

In a move that’s turning heads on Wall Street, Bit Digital (Nasdaq: BTBT) is doubling down on its artificial intelligence infrastructure play. The New York-based company, once primarily known for its cryptocurrency mining operations, has just inked a deal that could redefine its future – and potentially reshape the landscape of AI computing services.

On June 25, 2024, Bit Digital announced the expansion of a contract with a major high-performance computing customer. The numbers are eye-popping: an additional 2,048 GPUs, bringing the total to 4,096, with a contract value of approximately $275 million over three years. That’s $92 million annually, for those keeping score at home.

But what’s really intriguing here isn’t just the scale of the deal – it’s what it represents. Bit Digital is making a calculated pivot, leveraging its expertise in managing complex computing operations to carve out a niche in the booming AI infrastructure market. And they’re doing it with gusto.

The company isn’t just talking a big game; they’re putting their money where their mouth is. They’ve placed an order for 256 servers from Dell Technologies, packed with Nvidia’s coveted HGX H100 GPUs. These aren’t your run-of-the-mill graphics cards; they’re the cream of the crop for AI computations, and Bit Digital is betting big on their potential.

What’s particularly savvy about this move is how Bit Digital is financing it. They’re using a mix of cash, digital assets, and a sale-leaseback agreement for half of the new GPUs. This financial juggling act demonstrates a level of fiscal acumen that should pique the interest of potential investors. It’s a strategy that minimizes upfront capital requirements while maximizing potential returns – music to any investor’s ears.

But here’s where it gets really interesting: this deal puts Bit Digital tantalizingly close to its goal of a $100 million annualized revenue run-rate by the end of 2024. They’re now sitting at over 90% of that target. For a company that was once primarily focused on bitcoin mining, this represents a remarkable transformation.

CEO Sam Tabar’s comments suggest this is just the beginning. He’s talking about “robust growth trajectory” and “scaling even further as the year progresses.” It’s the kind of optimistic language that makes investors’ ears perk up, especially when it’s backed by concrete deals like this one.

Of course, it’s not all smooth sailing. The AI infrastructure market is heating up, with tech giants and startups alike vying for a piece of the pie. Bit Digital will need to leverage its first-mover advantage and continue to execute flawlessly to maintain its edge.

Investors keen on getting more details won’t have to wait long. Bit Digital is slated to present at the Noble Capital Markets Consumer/TMT Virtual Conference this week. It’s an opportunity to hear directly from the company’s leadership about their strategy and future prospects.

As the lines between cryptocurrency, blockchain, and AI continue to blur, companies like Bit Digital are positioning themselves at the intersection of these transformative technologies. Their ability to pivot from crypto mining to AI infrastructure demonstrates an agility that could serve them well in the fast-paced tech sector.

For investors, Bit Digital represents an intriguing proposition. It’s a company with roots in the volatile world of cryptocurrency that’s now making significant inroads into the AI boom. As the demand for AI computing resources continues to skyrocket, Bit Digital’s bold moves could position them as a key player in this burgeoning field.

While the risks inherent in such a rapidly evolving sector shouldn’t be overlooked, Bit Digital’s recent contract win and ambitious revenue targets suggest a company that’s not just adapting to change, but actively shaping it. As always, potential investors should do their due diligence, but for those looking to ride the AI wave, Bit Digital is certainly a company worth watching.

Vince Holding Corp. (VNCE ) – Fashioning A Growth Company

Posted on by cpereira@noblefcm.com


Monday, June 24, 2024

500 5th Avenue 20th Floor New York, NY 10110 United States Sector(s): Consumer Cyclical Industry: Apparel Manufacturing Full Time Employees: 599 Key Executives Name Title Pay Exercised Year Born Mr. Jonathan CEO & Director 825.62k N/A 1958 Ms. Marie Fogel Senior VP and Chief Merchandising & Manufacturing Officer 633.19k N/A 1961 Mr. John Chief Financial Officer

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.

Initiating coverage. The company appears to be well on its way toward favorable revenue growth and improving margins, along with a healthier balance sheet. We believe that investors have not yet caught up to the story of the company’s transformation. We are initiating coverage with an Outperform rating and a $3 price target. 

Attractive position in the fashion industry. The company offers luxury, high quality men’s and women’s apparel that is in a fashion growth category of sophisticated, unstructured, casual wear. We believe that there is a significant price umbrella with other designer brands that should allow the company to reduce discounting, raise prices and increase its market share in the premium brand space. 


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