Tag: Consumer

Release – Round Table Pizza Debuts in Houston

Posted on by aweinsoff@channelchek.com

Research News and Market Data on FAT

December 19, 2023

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Beloved Pizza Chain Expands Texas Footprint in Richmond Suburb

LOS ANGELES, Dec. 19, 2023 (GLOBE NEWSWIRE) — FAT (Fresh. Authentic. Tasty.) Brands Inc. , parent company of Round Table Pizza and 17 other restaurant concepts, announces that it has officially opened its first Round Table Pizza location in greater Houston. Located in Richmond, Texas, the new restaurant is operated by franchisee Paul Tran, an oil industry veteran and retiree, and will be a welcome addition to the West Houston suburbs.

Since its founding, Round Table Pizza has been recognized as “Pizza Royalty™” for its homemade dough, signature three-cheese blend, and gold-standard ingredients topped to the edge. Customers can enjoy the chain’s proprietary handmade pizzas, salads, baked-to-perfection Garlic Parmesan Twists, classic and boneless wings, and more.

“Establishing a presence in Houston represents a pivotal step in Round Table Pizza’s domestic growth strategy, especially as we continue building upon our presence in Texas,” says Taylor Wiederhorn, Chief Development Officer of FAT Brands. “Round Table Pizza has seen great success in the San Antonio and Dallas markets, and we believe the Richmond community will enjoy what we have to offer.”

Round Table Pizza in Richmond will be located at 8323 Farm to Market Rd 723, Richmond, TX 77406. It is open Sunday through Thursday, 11 a.m. to 9 p.m., and Fridays and Saturdays, 11 a.m. to 10 p.m. For more information on Round Table Pizza, please 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 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, Hot Dog on a Stick, Buffalo’s Cafe & Express, Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Smokey Bones, 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 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.

MEDIA CONTACT:
Erin Mandzik FAT Brands
emandzik@fatbrands.com
860-212-6509

Source: FAT Brands Inc.

QuantaSing Group Limited (QSG) – A Surprisingly Low Stock Valuation

Posted on by cpereira@noblefcm.com


Friday, December 15, 2023

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.

Fiscal Q1 revenue growth. The company reported fiscal 2024 Q1 revenue of RMB869.1 million, 11% better than our estimate and a 32% increase over the prior year period. Adj. EBITDA of RMB71.5 million was below our estimate of RMB90.5 million.

Other Personal Interest Courses at forefront. The impressive revenue growth was driven by the Other Personal Interest Courses category, which was up RMB292.5 million over the prior year period. Importantly, we expect the Other Personal Interest category to be the main revenue growth driver for the company over the short term.


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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. 

Research – The ODP Corporation Earns Top Score in Human Rights Campaign Foundation’s 2023-2024 Corporate Equality Index for Twelfth Consecutive Year

Posted on by aweinsoff@channelchek.com

Research News and Market Data on ODP

BOCA RATON, Fla.–(BUSINESS WIRE)–Dec. 14, 2023– The ODP Corporation (NASDAQ:ODP), a leading provider of products, services and technology solutions to businesses and consumers, today announced that it received a score of 100 on the Human Rights Campaign Foundation’s 2023-2024 Corporate Equality Index (CEI), the nation’s foremost benchmarking survey and report measuring corporate policies and practices related to LGBTQ+ workplace equality. The ODP Corporation joins the ranks of 545 major U.S. businesses that also earned top marks this year.

“The ODP Corporation is proud to be recognized as a top-scoring company 12 years in a row,” said Zoë Maloney, executive vice president and chief human resources officer for The ODP Corporation. “We are committed to fostering an inclusive workplace where our associates feel safe, respected, and valued for who they are. Embracing diverse perspectives allows us to connect more deeply with our customers and communities and unlocks the full potential of our team to innovate for continued progress.”

“For well over two decades, businesses have played an important role in furthering LGBTQ+ equality by centering employee needs and voices when it comes to workplace inclusion. While there is much more work to be done, year-over-year growth in CEI participation is evidence of a business community that recognizes the responsibility and value in upholding equity and inclusion,” said RaShawn “Shawnie” Hawkins, Human Rights Campaign senior director of workplace equality. “Our goal at the Human Rights Campaign Foundation is to work in a spirit of partnership with companies, providing educational resources and leading benchmarking, and collaborating on ways for businesses to support the LGBTQ+ community at a time when we face unprecedented legislative attacks, heightened anti-LGBTQ+ rhetoric and physical violence. The CEI is an ever-evolving tool – a blueprint that companies can use to show up more effectively in supporting their LGBTQ+ employees and their families.”

The results of the 2023-2024 CEI showcase how U.S.-based companies are promoting LGBTQ+ friendly workplace policies in the U.S. and abroad. The first year of the CEI included 319 participants, and the 2023-2024 CEI now includes 1,384 participants; further demonstrating the tremendous trajectory of the CEI, a record-breaking 1,340 businesses have non-discrimination protections specific to gender identity, up from just 17 in 2002. These critical non-discrimination protections cover 21 million employees in the U.S. and around the globe. The ODP Corporation’s efforts in satisfying all the CEI’s criteria earned a score of 100 and the designation as recipient of the Equality 100 Award: Leader in LGBTQ+ Workplace Inclusion.

The CEI rates employers providing these crucial protections to over 20 million U.S. workers and an additional 18 million outside of the U.S. Companies rated in the CEI include Fortune magazine’s 500 largest publicly traded businesses, American Lawyer magazine’s top 200 revenue-grossing law firms (AmLaw 200), and hundreds of publicly and privately held mid- to large-sized businesses.

The CEI rates companies on detailed criteria falling under four central pillars:

  • Non-discrimination policies across business entities;
  • Equitable benefits for LGBTQ+ workers and their families;
  • Supporting an inclusive culture; and,
  • Corporate social responsibility.

The full report is available online at www.hrc.org/cei.

About the Human Rights Campaign Foundation The Human Rights Campaign Foundation is the educational arm of the Human Rights Campaign (HRC), America’s largest civil rights organization working to achieve equality for lesbian, gay, bisexual, transgender and queer (LGBTQ+) people. Through its programs, the HRC Foundation seeks to make transformational change in the everyday lives of LGBTQ+ people, shedding light on inequity and deepening the public’s understanding of LGBTQ+ issues, with a clear focus on advancing transgender and racial justice. Its work has transformed the landscape for more than 15 million workers, 11 million students, 1 million clients in the adoption and foster care system and so much more. The HRC Foundation provides direct consultation and technical assistance to institutions and communities, driving the advancement of inclusive policies and practices; it builds the capacity of future leaders and allies through fellowship and training programs; and, with the firm belief that we are stronger working together, it forges partnerships with advocates in the U.S. and around the globe to increase our impact and shape the future of our work.

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. 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/20231214567319/en/

Jennifer Robins
Media Relations
Jennifer.Robins@theodpcorp.com

Swati Joshi
Media Relations
Swati.Joshi@theodpcorp.com

Source: The ODP Corporation

The ODP Corporation (ODP) – NobleCon19 Presentation Notes

Posted on by cpereira@noblefcm.com


Thursday, December 14, 2023

Office Depot, Inc., together with its subsidiaries, supplies a range of office products and services. It offers merchandise, such as general office supplies, computer supplies, business machines and related supplies, and office furniture through its chain of office supply stores under the Office Depot, Foray, Ativa, Break Escapes, Worklife, and Christopher Lowell brand names. The company also provides graphic design, printing, reproduction, mailing, shipping, and other services through design, print, and ship centers. It has operations throughout North America, Europe, Asia, and Central America. The company also sells its products and services through direct mail catalogs, contract sales force, Internet sites, and retail stores, through a mix of company-owned operations, joint ventures, licensing and franchise agreements, alliances, and other arrangements. As of December 31, 2008, Office Depot operated 1,267 North American retail division office supply stores and 162 international division retail stores, as well as participated under licensing and merchandise arrangements in 98 stores. The company was founded in 1986 and is based in Boca Raton, Florida.

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.

NobleCon19. The ODP Corporation CFO Anthony Scaglione presented at NobleCon19. Highlights included are the optimization of Office Depot, growth drivers in Varis and Veyer, and returning value to shareholders. A rebroadcast is available at https://www.channelchek.com/videos/the-odp-corporation-noblecon19-replay.

Office Depot. The Company discussed the optimization of its store footprint from a current store count of roughly 930 stores to 800-900 stores by 2025. These stores, which the optimization should reduce costs, in our view, mixed with the eCommerce website, provide ODP with strong free cash flow generation to be deployed in its faster growing segments, Varis and Veyer.


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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) – A Good Start

Posted on by cpereira@noblefcm.com


Thursday, December 14, 2023

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.

Strong fiscal Q1 revenue growth. The company reported fiscal 2024 Q1 revenue of RMB869.1 million, 11% better than our estimate and a 32% increase over the prior year period. Adj. EBITDA of RMB71.5 million was below our estimate of RMB90.5 million. Figure #1 Fiscal Q1 Results illustrates the company’s performance in the quarter.

Other Personal Interest Courses scaling. The impressive revenue growth was driven by the Other Personal Interest Courses category, which was up RMB292.5 million over the prior year period. Importantly, we expect the Other Personal Interest category to be the main revenue growth driver for the company over the short term.


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. 

Vera Bradley (VRA) – Third Quarter Fiscal 2024 Results Mixed

Posted on by cpatches


Monday, December 11, 2023

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.

3QFY24. Net revenue of $114.9 million, compared to $124.0 million in 3Q23, and below our estimate of $124 million. Gross margin improved to 54.8%, up 190 basis points y-o-y. Net income of $5.1 million, or $0.16/sh ($0.19/sh adjusted) compared to net income of $5.2 million, or $0.17/sh (adjusted of $0.20). We had forecasted net income of $4.5 million, or $0.14/sh.

Segments. VB Direct segment revenues totaled $72.3 million, a 9.7% decrease y-o-y. Comparable sales declined 8.2% in the third quarter, primarily driven by weakness in the outlet channel. VB Indirect segment revenues totaled $25.0 million, a 12.0% increase y-o-y, reflecting a significant one-time key account order in 3Q24. Pura Vida revenues totaled $17.7 million, an 18.3% decrease y-o-y, reflecting a decline in sales to wholesale accounts and a decline in ecommerce sales.


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) – Moving Rating to Market Perform after Sharp Rise in Stock Price

Posted on by cpereira@noblefcm.com


Monday, November 27, 2023

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.

Moving to Market Perform. With the shares exceeding our recently instituted $13 price target, we are lowering our rating to Market Perform from Outperform. While we remain impressed with operating results, we believe a good portion of the recent share performance is being driven in anticipation of a sale of the Company, which we do not believe is imminent.

Stock Performance. LWAY shares are up 82% since closing at $9.38 on November 13th. While we believe the sell off in the shares following strong operating results was unwarranted, the subsequent price rebound has exceeded our $13 price target. To maintain an Outperform rating, our PT would need to exceed $19.50, which we believe would have LWAY shares “priced to perfection” from an operating standpoint, which, given the uncertain state of the economy, is a stretch in our view.


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. 

Black Friday 2023 Kicks Off After Strong Online Sales on Thanksgiving

Posted on by slightbourne@noblecapitalmarkets.com

Black Friday 2023 is officially here, kicking off the year’s biggest shopping weekend both online and in stores. Early indicators suggest consumers are hungry for deals, with e-commerce sales on Thanksgiving Day jumping 5.5% year-over-year to $5.6 billion according to Adobe Analytics.

The robust online sales activity on Turkey Day comes ahead of an expected $9.6 billion in Cyber Monday revenue, a 5.7% increase from last year. While these growth figures represent a slowdown from the blistering pace set during the pandemic, they highlight that holiday shoppers are still responding to discounts even amidst broader economic uncertainty.

This sets the stage for a pivotal Black Friday that may determine whether projections for up to 4% gains in total holiday sales materialize. Shoppers are expected to turn out in force to scoop up deals on popular items like toys, apparel, jewelry, and consumer tech that were top sellers online on Thanksgiving.

Mobile Shopping Surge Drives Online Revenue

Fueling the growth in Thanksgiving e-commerce sales is the continued surge in smartphone shopping. A record 59% of online revenue came from mobile devices as people browsed and bought gifts on the go. With mobile penetration rising every year, retailers have adapted their sites and apps to make it easier for iPhone and Android users to capitalize on promotions.

Savvy shoppers are discovering they can beat crowds and inventory shortages by taking advantage of online-only deals as well as ordering online and picking up in store. Retailers are encouraging this omnichannel behavior by making curbside pickup fast and frictionless. The convenience of mobile ordering combined with flexible fulfillment options underlies the shift towards more Thanksgiving and Black Friday spending happening digitally.

Top Deals Entice Consumers

Despite economic pressures from inflation and higher interest rates, consumers have shown a willingness to spend when the price is right. Adobe tracked toys discounted up to 28%, electronics up to 27% off, and computers 22% off on Thanksgiving, leading to triple-digit surge in those categories versus October.

Amazon and Target rolled out additional Black Friday toy deals with major markdowns on Barbie dream campers, Marvel action figures, and Nintendo Switch gaming bundles expected to rank among the most popular purchases.

Similarly, doors opening early at retailers like Best Buy, Walmart, and Apple will likely attract shoppers chasing deals on big-screen TVs, Bluetooth speakers, tablets, and the hot new Airpods Pro 2 earbuds. Though buying conditions are tougher this year, bargain hunters still prioritize snagging discounted must-have gifts for loved ones.

What’s at Stake for Retailers

While Thanksgiving and Black Friday don’t determine overall holiday fortunes, they set the tone for retailers during the critical year-end sales period. Those who miss targets this weekend play catch-up and may have to result to profit-busting promotions to move stagnant inventory later in December.

However, retailers who excite shoppers out the gates with alluring deals and experiences create positive momentum they can ride into the New Year. The outperformance of those players better able to adapt to the mobile and omnichannel-centric future of holiday shopping will be on full display this weekend.

For consumers, the state of Black Friday offers clues into buying conditions for the next month as they weigh completing wish lists amidst budget realities. With early reads tilting positive, cautious optimism seems warranted – though restraint may still pay off waiting to see if deals sweeten further in December.

One thing is certain: all eyes turn to how activity plays out on the unofficial start to the holiday sales season. Black Friday retains symbolic importance for retailers and consumers alike – so expect the 2023 version to again provide intrigue and insights into the health of the US consumer.

Xcel Brands (XELB) – All According To Plan

Posted on by cpereira@noblefcm.com


Wednesday, November 22, 2023

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.

Solid Q3 results. The company reported $2.9 million in revenue, which was in-line with our estimate of $2.6 million. Adj. EBITDA loss of $1.4 million was modestly lower than our estimate of a loss of $0.8 million. Notably, Q3 operating results were affected by less QVC programming due to talent scheduling conflicts related to a return to an in-studio production policy and non-recurring restructuring expenses.

Favorable licensing model. In November, the company completed its transition to a licensing model, and should report the last portion of its restructuring costs in Q4. Notably, we anticipate significant reductions in direct operating expenses from 2022 levels of roughly $7.5 million to roughly $4.0 million in 2024. Additionally, in Q4, we estimate sequential licensing revenue growth from Q3.


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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) – Likely To Be The Trough Toward Improved Results

Posted on by cpereira@noblefcm.com


Tuesday, November 21, 2023

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.

Solid Q3 results. The company reported $2.9 million in revenue, which was in-line with our estimate of $2.6 million. Adj. EBITDA loss of $1.4 million was modestly lower than our estimate of a loss of $0.8 million, as illustrated in Figure #1 Q3 Results. Notably, Q3 operating results were affected by less QVC programming due to talent scheduling conflicts related to a return to an in-studio production policy and non-recurring restructuring expenses.

Transition toward a licensing model. In November, the company completed a restructuring process by entering into licensing agreements for its Longaberger and made in the US baskets businesses. The new licensing model is expected to significantly lower operating costs and be a key catalyst toward a swing to positive cash flow in 2024.


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 Achieves Validation of Science-Based Emission Reduction Targets

Posted on by aweinsoff@channelchek.com

Research News and Market Data on ODP

Validated science-based targets emphasize The ODP Corporation’s commitment to environmental sustainability

BOCA RATON, Fla.–(BUSINESS WIRE)–Nov. 16, 2023– The ODP Corporation is proud to announce that it has successfully earned validation from the Science Based Targets initiative (SBTi) of its science-based targets for scope 1, scope 2, and scope 3 greenhouse gas (GHG) emissions. This significant milestone demonstrates The ODP Corporation’s commitment to environmental sustainability and aligns with its ongoing efforts to combat the effects of climate change.

The science-based targets reflect The ODP Corporation’s goals for reducing GHG emissions, including a commitment to reduce absolute scope 1 and 2 GHG emissions 46.2% by 2030 from a 2019 base year. The Company further commits to reduce scope 3 GHG emissions from downstream transportation and distribution and use of sold products 55% per USD value added by 2030 from a 2019 base year.

As part of its dedication to driving sustainability throughout its supply chain, The ODP Corporation also commits that 75% of its suppliers by spend covering purchased goods and services will have science-based targets by 2027. This collaborative effort will contribute to reducing emissions and fostering an environmentally responsible business ecosystem.

“We are incredibly proud to have our science-based targets validated, as it underscores our commitment to make meaningful changes in our environmental impact,” said Shannon Hunter, vice president of sustainability at The ODP Corporation. “By setting these targets, we are sending a clear message to all of our stakeholders—including our employees, customers, and partners—that we are dedicated to environmental sustainability and actively reducing our carbon footprint.”

Achieving validation of our science-based targets is a testament to The ODP Corporation’s ongoing sustainability journey. The ODP Corporation remains committed to continuously improving its environmental practices and embracing innovative solutions. This announcement marks a pivotal step forward in the company’s sustainability efforts and reinforces its position as a responsible corporate citizen.

For more information about sustainability initiatives 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. 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

Release – Xcel Brands To Report Third Quarter 2023 Financial Results On November 20, 2023

Posted on by aweinsoff@channelchek.com

Research News and Market Data on XELB

November 15, 2023 at 4:15 PM EST

PDF Version

Conference call scheduled for 5:00 p.m. ET on November 20, 2023

NEW YORK, Nov. 15, 2023 (GLOBE NEWSWIRE) — Xcel Brands, Inc. (NASDAQ: XELB) (“Xcel” or the “Company”), a media and consumer products company with billions of dollars in retail sales generated by its brands through social commerce and live-stream shopping, today announced that it will report its third quarter 2023 financial results on November 20, 2023. The Company will hold a conference call with the investment community on November 20, 2023, at 5:00 p.m. ET.

A webcast of the conference call will be available live on the Investor Relations section of Xcel’s website at https://xcelbrands.co/pages/events-and-presentations or directly at https://edge.media-server.com/mmc/p/8zxctvoi.

Interested parties unable to access the conference call via the webcast may dial 800-715-9871 or 646-307-1963 and use the Conference ID 8167522. A replay of the webcast will be available on Xcel’s website.

About Xcel Brands
Xcel Brands, Inc. (NASDAQ: XELB) is a media and consumer products company engaged in the design, production, marketing, livestreaming, wholesale distribution and direct-to-consumer 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 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. Xcel is pioneering a true omni-channel sales strategy that includes the promotion and sale of products under its brands through interactive television, digital livestream shopping, social commerce, brick-and-mortar retail and e-commerce channels. 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 livestreaming, production, merchandising, design, marketing, retailing and licensing experience and has a proven track record of success in elevating branded consumer products companies. With an experienced team of professionals focused on design, production and digital marketing, Xcel maintains control of product quality and promotion across all of its product categories and distribution channels. Xcel differentiates by design. www.xcelbrands.com

For further information please contact:
Andrew Berger
SM Berger & Company
216-464-6400
andrew@smberger.com

Source: Xcel Brands, Inc

Release – ACCO Brands Announced as One of America’s Safest Companies for 2023 by EHS Today

Posted on by aweinsoff@channelchek.com

Research News and Market Data on ACCO

November 14, 2023

LAKE ZURICH, Ill.–(BUSINESS WIRE)– ACCO Brands (NYSE: ACCO), a world leader in branded consumer and end user products, was named one of America’s Safest Companies in 2023 by EHS Today. The magazine for environment, health, and safety leaders, announced its list of the 2023 America’s Safest Companies last month with 10 companies on the list. These companies are involved in a broad range of activities, from industrial contracting to robotics, from packaging to cabinetry, from consumer packaged goods to electrical construction, and more.

ACCO Brands was among the outstanding companies being honored because of a committed understanding of the value that safety brings to an organization. This is the third time that ACCO Brands has been awarded this title, something only six other companies have achieved.

For more than 20 years, the America’s Safest Companies competition has sought to identify those characteristics that differentiate good safety programs from great ones, and to then celebrate the best practices and procedures that exemplify safety excellence.

“Every America’s Safest Company winner is a standard-bearer of safety excellence. Each winning company has engrained into their culture and their employees a consistent and constant need to keep every person and every situation free from harm,” said EHS Today Editor-in-Chief Dave Blanchard.

To be considered as one of America’s Safest Companies, organizations must complete an application that requires them to demonstrate excellence in several areas: support from leadership and management for EHS efforts; employee involvement in the EHS process; innovative solutions to safety challenges; injury and illness rates lower than the average for their industries; comprehensive training programs; evidence that prevention of incidents is the cornerstone of the safety process; good communication about the value of safety; and a way to substantiate the benefits of the safety process.

As a company with a personal stake in all things ergonomic, ACCO Brands understands the discomfort of aches and pains. That is why the company provides on-site massages using the certified active release technique (ART) to all U.S. manufacturing and distribution center employees—regardless of whether those aches and pains are job-related or not.

“While there is a significant cost to providing the ART benefit to our employees, we believe we have prevented many minor employee issues from becoming more serious medical issues and have a healthier workforce as a result of this program,” says James Edwards, senior director of environmental, health and safety, ACCO Brands.

The best practices from the 2023 America’s Safest Companies are featured in a special section in the July/August 2023 issue of EHS Today magazine and on the brand’s website, www.ehstoday.com. Since 2002, America’s Safest Companies has honored more than 250 organizations for their unwavering commitment to worker safety, health, and environmental stewardship.

About ACCO Brands
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.

About EHS Today
Owned by Endeavor Business Media, EHS Today is an American occupational safety, and health media brand. It is the leading US magazine for environmental, health and safety management professionals in the manufacturing, construction, and service sectors.

Kori Reed
Corporate Communication, ACCO Brands
Kori.reed@acco.com

Source: ACCO Brands Corporation