Tag: Consumer

Release – HNI Corporation to Acquire Steelcase Inc.

Posted on by aweinsoff@channelchek.com

Research News and Market Data on SCS

August 4, 2025

Highly Complementary Brand Portfolios, Dealer Networks, and Industry Segments will Enhance Customer Reach

Combined Capabilities to Drive Accretion and Accelerate Strategic Initiatives to Better Serve Customers

HNI and Steelcase to Host Conference Call and Webcast at 8:30 AM ET Today

MUSCATINE, Iowa & GRAND RAPIDS, Mich.–(BUSINESS WIRE)– HNI Corporation (NYSE: HNI) and Steelcase Inc. (NYSE: SCS) today announced that they have entered into a definitive agreement under which HNI will acquire Steelcase in a cash and stock transaction, with a total consideration of approximately $2.2 billion to Steelcase common shareholders.

Under the terms of the agreement, Steelcase shareholders will receive $7.20 in cash and 0.2192 shares of HNI common stock for each share of Steelcase they own. The implied per share purchase price of $18.30 is based on HNI’s closing share price of $50.62 on Friday, August 1, 2025, reflecting a valuation multiple at transaction close1 for Steelcase of approximately 5.8x TTM2 Adjusted EBITDA, inclusive of run-rate cost synergies of $120 million. Upon closing, HNI shareholders will own approximately 64% and Steelcase shareholders will own approximately 36% of the combined company.

“This acquisition brings together two respected companies with complementary strengths and represents an exciting milestone in HNI’s growth journey,” said Jeffrey Lorenger, HNI’s Chairman, President, and Chief Executive Officer. “We have long admired Steelcase for its insight-led approach, which has helped shape our industry for decades. With the Steelcase portfolio of brands and as in-office work trends accelerate, we will be even better positioned to meet the evolving needs of the workplace, enhance dealer and customer relationships, unlock new opportunities for growth, and create compelling value for the combined company’s shareholders.”

“Joining with HNI is a bold step that marks the next era for Steelcase, our customers, dealers, and employees,” said Sara Armbruster, President and Chief Executive Officer of Steelcase. “Together, we will be positioned to redefine what’s possible in the world of work, workers, and workplaces. Like Steelcase, HNI is an organization that leads with purpose, shares similar values, and puts the customer at the center of everything they do. I’m excited to see this combination shape our industry.”

Compelling Strategic Benefits

  • Combines Complementary Portfolios and Dealer Networks to Enhance Customer Reach: HNI’s and Steelcase’s geographic footprints and dealer networks are highly complementary, which bolsters the combined company’s ability to serve more customers across diverse industry segments, including small and medium business, large corporate, healthcare, education, and hospitality customers. The companies have the industry’s most respected and widely recognized brands, allowing the combined company to better support an expanded customer base and capture growth opportunities from industry tailwinds.
  • Brings Together World-Class Capabilities: Uniting a strong innovation engine with operational excellence, the combined organization will accelerate delivery of more advanced solutions to customers, while increasing value for shareholders.
  • Strong Financial Profile: The combined company will have pro forma annual revenue of approximately $5.8 billion, pro forma Adjusted EBITDA of approximately $745 million, and 2.1x net leverage. 3 These metrics are based on each company’s respective last reported 12-month results and are inclusive of annual run-rate synergies. Net leverage is expected to return to pre-acquisition levels within 18-24 months.
  • Highly Synergistic Combination: With recent experience in M&A execution and a disciplined integration approach, HNI’s proven ability to successfully combine core capabilities and deliver cost synergies will maximize the new organization’s future success. Annual run-rate synergies are expected to total $120 million when fully mature. The company projects the combination will be highly accretive to non-GAAP earnings per share beginning in 2027.
  • Accelerates Strategic Framework: The acquisition is fully aligned with HNI’s strategic framework focused on driving long-term profitable growth. With an enhanced financial profile, the new company will also be better positioned to accelerate and increase investments in long-term operational enhancements, digital transformation, and customer-centric buying experiences.

HNI and Steelcase share a deep commitment to respecting people, protecting the planet, operating with excellence, and acting with integrity. As a stronger and more diversified organization, the combined company will bring together the strengths of both HNI and Steelcase to create new career growth opportunities for team members, deliver more value for customers, and further support and invest in the communities where they operate.

Following the close of the transaction, the combined company will continue to be led by Jeffrey Lorenger, HNI’s Chairman, President, and Chief Executive Officer. HNI will continue to operate its corporate headquarters in Muscatine, Iowa, and Steelcase will maintain its headquarters in Grand Rapids, Michigan. HNI will maintain the Steelcase brand following the transaction’s close. In addition, post-closing, HNI’s Board of Directors will expand from 10 directors to 12, to include two of Steelcase’s current independent board members.

Approvals, Financing, and Timing to Close

The transaction, which is expected to close by the end of calendar year 2025, is subject to approval by HNI and Steelcase shareholders, the receipt of required regulatory clearances, and the satisfaction of other customary closing conditions.

Certain shareholders of Steelcase have entered into a voting agreement to vote in favor of the transaction at the special meeting of Steelcase shareholders to be held in connection with the transaction.

In support of the transaction, JPMorgan Chase Bank, N.A. and Wells Fargo Bank, N.A. have executed a commitment letter to provide committed financing to HNI, subject to the terms and conditions therein.

Advisors

J.P. Morgan Securities LLC is serving as exclusive financial advisor to HNI, and Davis Polk & Wardwell LLP is serving as legal counsel. Goldman Sachs & Co. LLC and BofA Securities are serving as financial advisors to Steelcase, and Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal counsel.

Conference Call, Webcast and Presentation

HNI and Steelcase will hold a conference call to discuss the transaction today, August 4, 2025 at 8:30 a.m. Eastern Time. To listen, call (855) 761-5600 and use conference ID number 7006893. Access to a live audio webcast and slide presentation will be available on the Events & Presentations page of the Investor Relations section of HNI Corporation’s website or at the following link: https://events.q4inc.com/attendee/369737700 [events.q4inc.com].

About HNI Corporation

HNI Corporation (NYSE: HNI) has been improving where people live, work, and gather for more than 75 years. HNI is a manufacturer of workplace furnishings and residential building products, operating under two segments. The Workplace Furnishings segment is a leading global designer and provider of commercial furnishings, going to market under multiple unique brands. The Residential Building Products segment is the nation’s leading manufacturer and marketer of hearth products, which include a full array of gas, electric, wood, and pellet-burning fireplaces, inserts, stoves, facings, and accessories. More information can be found on the Corporation’s website at www.hnicorp.com.

About Steelcase

Steelcase (NYSE: SCS) is a global design and thought leader in the world of work. Our purpose is to help the world work better. Along with more than 30 creative and technology partner brands, we research, design and manufacture furnishings and solutions for many of the places where work happens — including offices, homes, and learning and health environments. Together with our 11,300 employees, we’re working toward better futures for the wellbeing of people and the planet. Our solutions come to life through our global community of expert Steelcase dealers in approximately 790 locations, store.steelcase.com and other retail partners. For more information, visit Steelcase.com.

Forward-Looking Statements

This communication contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 and Section 27A of the Securities Act of 1933, which involve risks and uncertainties. Any statements about HNI’s, Steelcase’s or the combined company’s plans, objectives, expectations, strategies, beliefs, or future performance or events and any other statements to the extent they are not statements of historical fact are forward-looking statements. Words, phrases or expressions such as “anticipate,” “believe,” “could,” “confident,” “continue,” “estimate,” “expect,” “forecast,” “hope,” “intend,” “likely,” “may,” “might,” “objective,” “plan,” “possible,” “potential,” “predict,” “project”, “target,” “trend” and similar words, phrases or expressions are intended to identify forward looking statements but are not the exclusive means of identifying such statements. Forward-looking statements are based on information available and assumptions made at the time the statements are made. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. Forward-looking statements in this communication include, but are not limited to, statements about the benefits of the transaction between HNI and Steelcase (the “Transaction”), including future financial and operating results, the combined company’s plans, objectives, expectations and intentions, and other statements that are not historical facts.

The following Transaction-related factors, among others, could cause actual results to differ materially from those expressed in or implied by forward-looking statements: the occurrence of any event, change, or other circumstance that could give rise to the right of one or both of the parties to terminate the definitive merger agreement between HNI and Steelcase; the outcome of any legal proceedings that may be instituted against HNI or Steelcase; the possibility that the Transaction does not close when expected or at all because required regulatory, shareholder, or other approvals and other conditions to closing are not received or satisfied on a timely basis or at all (and the risk that seeking or obtaining such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the Transaction); the risk that the benefits from the Transaction may not be fully realized or may take longer to realize than expected, including as a result of changes in, or problems arising from, general economic and market conditions, interest and exchange rates, monetary policy, trade policy (including tariff levels), laws and regulations and their enforcement, and the degree of competition in the geographic and business areas in which HNI and Steelcase operate; any failure to promptly and effectively integrate the businesses of HNI and Steelcase; the possibility that the Transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; reputational risk and potential adverse reactions of HNI’s or Steelcase’s customers, employees or other business partners, including those resulting from the announcement, pendency or completion of the Transaction; the dilution caused by HNI’s issuance of additional shares of its capital stock in connection with the Transaction; and the diversion of management’s attention and time to the Transaction from ongoing business operations and opportunities.

Additional important factors relating to Steelcase that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to, competitive and general economic conditions domestically and internationally; acts of terrorism, war, governmental action, natural disasters, pandemics and other Force Majeure events; cyberattacks; changes in the legal and regulatory environment; changes in raw material, commodity and other input costs; currency fluctuations; changes in customer demand; and the other risks and contingencies detailed in Steelcase’s most recent Annual Report on Form 10-K and its other filings with the U.S. Securities and Exchange Commission (the “SEC”).

Additional important factors relating to HNI that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to, HNI’s ultimate realization of the anticipated benefits of the acquisition of Kimball International; disruptions in the global supply chain; the effects of prolonged periods of inflation and rising interest rates; labor shortages; the levels of office furniture needs and housing starts; overall demand for HNI’s products; general economic and market conditions in the United States and internationally; industry and competitive conditions; the consolidation and concentration of HNI’s customers; HNI’s reliance on its network of independent dealers; change in trade policy, including with respect to tariff levels; changes in raw material, component, or commodity pricing; market acceptance and demand for HNI’s new products; changing legal, regulatory, environmental, and healthcare conditions; the risks associated with international operations; the potential impact of product defects; the various restrictions on HNI’s financing activities; an inability to protect HNI’s intellectual property; cybersecurity threats, including those posed by potential ransomware attacks; impacts of tax legislation; and force majeure events outside HNI’s control, including those that may result from the effects of climate change, a description of which risks and uncertainties and additional risks and uncertainties can be found in HNI’s most recent Annual Report on Form 10-K and its other filings with the SEC.

These factors are not necessarily all of the factors that could cause HNI’s, Steelcase’s or the combined company’s actual results, performance, or achievements to differ materially from those expressed in or implied by any forward-looking statements. Other unknown or unpredictable factors also could harm HNI’s, Steelcase’s or the combined company’s results.

All forward-looking statements attributable to HNI, Steelcase, or the combined company, or persons acting on HNI’s or Steelcase’s behalf, are expressly qualified in their entirety by the cautionary statements set forth above. Forward-looking statements speak only as of the date they are made, and HNI and Steelcase do not undertake or assume any obligation to update publicly any of these statements to reflect actual results, new information or future events, changes in assumptions, or changes in other factors affecting forward-looking statements, except to the extent required by applicable law. If HNI or Steelcase updates one or more forward-looking statements, no inference should be drawn that HNI or Steelcase will make additional updates with respect to those or other forward-looking statements. Further information regarding HNI, Steelcase and factors that could affect the forward-looking statements contained herein can be found in HNI’s Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q, and its other filings with the SEC, and in Steelcase’s Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q, and its other filings with the SEC.

No Offer or Solicitation

This communication is not an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

Important Information and Where to Find It

In connection with the Transaction, HNI will file with the SEC a Registration Statement on Form S-4 to register the shares of HNI common stock to be issued in connection with the Transaction. The Registration Statement will include a joint proxy statement of HNI and Steelcase that also constitutes a prospectus of HNI. The definitive joint proxy statement/prospectus will be sent to the shareholders of each of HNI and Steelcase.

INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT ON FORM S-4 AND THE JOINT PROXY STATEMENT/PROSPECTUS WHEN THEY BECOME AVAILABLE, AS WELL AS ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC IN CONNECTION WITH THE TRANSACTION OR INCORPORATED BY REFERENCE INTO THE JOINT PROXY STATEMENT/PROSPECTUS, BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION REGARDING HNI, STEELCASE, THE TRANSACTION AND RELATED MATTERS.

Investors and security holders may obtain free copies of these documents and other documents filed with the SEC by HNI or Steelcase through the website maintained by the SEC at http://www.sec.gov or from HNI at its website, www.hnicorp.com, or from Steelcase at its website, www.steelcase.com (information included on or accessible through either of HNI’s or Steelcase’s website is not incorporated by reference into this communication).

Participants in the Solicitation

HNI, Steelcase, their respective directors and certain of their respective executive officers may be deemed to be participants in the solicitation of proxies in connection with the Transaction under the rules of the SEC. Information about the interests of the directors and executive officers of HNI and Steelcase and other persons who may be deemed to be participants in the solicitation of proxies in connection with the Transaction and a description of their direct and indirect interests, by security holdings or otherwise, will be included in the joint proxy statement/prospectus related to the Transaction, which will be filed with the SEC. Information about the directors and executive officers of HNI and their ownership of HNI common stock is set forth in the definitive proxy statement for HNI’s 2025 Annual Meeting of Shareholders, filed with the SEC on March 11, 2025; in Table I (Information about our Executive Officers) at the end of Part I of HNI’s Annual Report on Form 10 K for the fiscal year ended December 28, 2024, filed with the SEC on February 25, 2025; in HNI’s Current Report on Form 8 K filed with the SEC on June 20, 2025; in the Form 3 and Form 4 statements of beneficial ownership and statements of changes in beneficial ownership filed with the SEC by HNI’s directors and executive officers; and in other documents filed by HNI with the SEC. Information about the directors and executive officers of Steelcase and their ownership of Steelcase common stock can be found in Steelcase’s definitive proxy statement in connection with its 2025 Annual Meeting of Shareholders, filed with the SEC on May 28, 2025; under the heading “Supplementary Item. Information About Our Executive Officers” in Steelcase’s Annual Report on Form 10 K for the fiscal year ended February 28, 2025, filed with the SEC on April 18, 2025; in Steelcase’s Amendment No. 1 to Current Report on Form 8-K/A filed with the SEC on July 11, 2025; in the Form 3 and Form 4 statements of beneficial ownership and statements of changes in beneficial ownership filed with the SEC by Steelcase’s directors and executive officers; and in other documents filed by Steelcase with the SEC. Free copies of the documents referenced in this paragraph may be obtained as described above under the heading “Important Information and Where to Find It.”

____________________
1 Assumes transaction close at 12/31/2025 with $21 million of net debt; equity consideration is at time of announcement
2 TTM as of 05/30/2025
3 Includes EBITDA add-backs, which encompass two-year look-forward run-rate synergies, as defined within the credit agreement

HNI Corporation

Investors
Vincent P. Berger
Executive Vice President and Chief Financial Officer
(563) 272-7400

Matthew S. McCall
Vice President, Investor Relations and Corporate Development
(563) 275-8898

Media
Lauren Odell / Felipe Ucrós
Gladstone Place Partners
hni@gladstoneplace.com
(212) 230-5930

Steelcase Inc.

Investors
Mike O’Meara
Investor Relations
ir@steelcase.com

Media
Brodie Bertrand
Corporate Communications
pr@steelcase.com

Andi Rose / Mahmoud Siddig
Joele Frank, Wilkinson Brimmer Katcher
arose@joelefrank.com / msiddig@joelefrank.com
(212) 355-4449

Source: HNI Corporation and Steelcase Inc.

Release – FAT Brands Announces Proposed Settlement of Stockholder Derivative Lawsuits

Posted on by aweinsoff@channelchek.com

Research News and Market Data on FAT

08/04/2025

LOS ANGELES, Aug. 04, 2025 (GLOBE NEWSWIRE) — FAT (Fresh. Authentic. Tasty.) Brands Inc. (NASDAQ: FAT) (the “Company”) announced today that it has entered into a stipulation of settlement to resolve two stockholder derivative lawsuits pending in the Court of Chancery of the State of Delaware (the “Court”) on behalf of the Company against certain current and former directors and officers of the Company. The stockholder derivative claims were filed in June 2021 (Case No. 2021-0511-NAC, relating to the Company’s December 2020 merger with Fog Cutter Capital Group), and March 2022 (Case No. 2022-0254-NAC, relating to the Company’s June 2021 recapitalization).

The settlement will resolve all claims asserted against the named defendants in the derivative lawsuits without any liability or wrongdoing attributed to them personally or the Company. Under the terms of the proposed settlement, the Company’s Board of Directors agreed to adopt and implement certain corporate governance modifications. In addition, the Company’s insurers will pay to the Company $10 million, from which fees and expenses of plaintiffs’ counsel will be deducted, and Fog Cutter Holdings LLC will contribute 200,000 shares of Twin Hospitality Group Inc. (NASDAQ: TWNP), to the Company.

The settlement is subject to approval of the Court, and non-objection by the United States.

About FAT (Fresh. Authentic. Tasty.) Brands

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

Forward Looking Statements

This news release contains forward-looking statements within the meaning of certain securities laws, including the Private Securities Litigation Reform Act of 1995, including statements regarding the agreement to settle the pending derivative lawsuits, and other statements that are not purely historical facts. These statements involve risks and uncertainties, including, among others, the uncertainty of obtaining court approval and non-objection by the United States of the proposed settlement, whether any proposed settlement is appealed, and the timing of the settlement payment. There can be no assurance that the litigation will be finally resolved in accordance with the agreement or at all. For a further description of additional risks and uncertainties relating to the business of the Company, see the Company’s filings with the Securities and Exchange Commission, including the Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Any forward-looking statements are made only as of the date hereof and the Company does not intend to update or revise any of them, except as required by law.

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

Primary Logo

Source: FAT Brands Inc.

Release – Xcel Brands Announces Pricing of $2.6 Million Public Offering and Concurrent Management-Led Private Placement

Posted on by aweinsoff@channelchek.com

Research News and Market Data on XCEL

August 1, 2025 at 8:50 AM EDT

PDF Version

NEW YORK, Aug. 01, 2025 (GLOBE NEWSWIRE) — Xcel Brands (NASDAQ: XELB), a leading media and consumer products company known for building socially driven, live-commerce-focused brands, today announced the pricing of its public offering of 2,181,818 shares of common stock at a public offering price of $1.10 per share. In a concurrent private placement, the Company also agreed to issue and sell an aggregate of 145,147 unregistered shares to certain insiders of the Company including the Company’s Chief Executive Officer, Robert D’Loren, at a purchase price of $1.36, which is equal to the closing price of the Company’s common stock on July 31, 2025. The closing of the offering is expected to occur on or about August 4, 2025, subject to the satisfaction of customary closing conditions.

Maxim Group LLC is acting as the sole placement agent for the offering.

The combined gross proceeds from the public offering and concurrent private placement, before deducting the placement agent’s fees and other offering expenses, are expected to be approximately $2.6 million. The Company intends to use the net proceeds from this offering for brand development and launch, working capital and other general corporate purposes, including payment of outstanding payables.

The securities described above are being offered pursuant to a registration statement on Form S-1, as amended (File No. 333-288495), which was declared effective by the Securities and Exchange Commission (the “SEC”) on July 31, 2025. The offering is being made only by means of a prospectus which forms a part of the effective registration statement. A preliminary prospectus relating to the offering has been filed with the SEC. The shares to be issued in the concurrent private placement were offered under Section 4(a)(2) of the Securities Act of 1933, as amended (the “Act”), and Regulation D promulgated thereunder and have not been registered under the Act or applicable state securities laws. Electronic copies of the final prospectus, when available, may be obtained on the SEC’s website at www.sec.gov and may also be obtained by contacting Maxim Group LLC at 300 Park Avenue, 16th Floor, New York, NY 10022, Attention: Prospectus Department, or by telephone at (212) 895-3745 or by email at syndicate@maximgrp.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About Xcel Brands

Xcel Brands, Inc. (NASDAQ: XELB) is a media and consumer products company engaged in the design, licensing, marketing, live streaming, and social commerce sales of branded apparel, footwear, accessories, fine jewelry, home goods and other consumer products, and the acquisition of dynamic consumer lifestyle brands. Xcel was founded in 2011 with a vision to reimagine shopping, entertainment, and social media as social commerce. Xcel owns the Halston, Judith Ripka, and C. Wonder brands, as well as the co-branded collaboration brands TowerHill by Christie Brinkley, LB70 by Lloyd Boston, Trust. Respect. Love by Cesar Millan, GemmaMade by Gemma Stafford, and a brand in development with Coco Rocha and also holds noncontrolling interests or long-term license agreements in the Isaac Mizrahi brand, Orme Live and Mesa Mia Live by Jenny Martinez. Xcel also owns and manages the Longaberger brand through its controlling interest in Longaberger Licensing, LLC. Xcel is pioneering a true modern consumer products sales strategy which includes the promotion and sale of products under its brands through interactive television, digital live-stream shopping, social commerce, brick-and-mortar retailers, and e-commerce channels to be everywhere its customers shop. The company’s brands have generated in excess of $5 billion in retail sales via livestreaming in interactive television and digital channels alone and consisting of over 20,000 hours of content production time in live-stream and social commerce. The brand portfolio reaches in excess of 43 million social media followers with broadcast reach into 200 million households. Headquartered in New York City, Xcel Brands is led by an executive team with significant live streaming, production, merchandising, design, marketing, retailing, and licensing experience, and a proven track record of success in elevating branded consumer products companies. For more information, visit www.xcelbrands.com.

Forward-Looking Statements

This press release contains certain statements which are not historical facts, which are forward-looking statements within the meaning of the federal securities laws, for the purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. These forward-looking statements include certain statements made with respect to the services offered by Xcel Brands and the markets in which it operates, and Xcel Brands’ projected future results. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions provided for illustrative purposes only, and projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties that could cause the actual results to differ materially from the expected results. These risks and uncertainties include, but are not limited to: general economic, political and business conditions; those factors identified in our “Risk Factors” included in the Form S-1 for this offering and in our periodic filings with the SEC; the ability of Xcel Brands to achieve its projected revenue, and its continued access to sources of additional debt or equity capital if needed. While Xcel Brands may elect to update these forward-looking statements at some point in the future, Xcel Brands specifically disclaims any obligation to do so.

For further information please contact:
Seth Burroughs
Xcel Brands
sburroughs@xcelbrands.com

Primary Logo

Source: Xcel Brands, Inc

Release – The ONE Group Hospitality, Inc. to Host Second Quarter 2025 Earnings Conference Call and Webcast at 4:30 PM ET on August 5, 2025

Posted on by aweinsoff@channelchek.com

Research News and Market Data on STKS

 Download as PDF

August 01, 2025

DENVER–(BUSINESS WIRE)– The ONE Group Hospitality, Inc. (“The ONE Group” or the “Company”) (Nasdaq: STKS) today announced that Emanuel “Manny” Hilario, President and Chief Executive Officer, and Tyler Loy, Chief Financial Officer, will host a conference call and webcast to discuss second quarter 2025 financial results on Tuesday, August 5, 2025 at 4:30 PM ET. A press release containing the second quarter 2025 financial results will be issued after market close that same afternoon.

The conference call can be accessed live over the phone by dialing 412-542-4186. A replay will be available after the call and can be accessed by dialing 412-317-6671; the passcode is 10200059. The replay will be available until Tuesday, August 19, 2025.

The webcast can be accessed from the Investor Relations tab of The ONE Group’s website at www.togrp.com under “News / Events”.

About The ONE Group

The ONE Group Hospitality, Inc. (Nasdaq: STKS) is an international restaurant company that develops and operates upscale and polished casual, high-energy restaurants and lounges and provides hospitality management services for hotels, casinos and other high-end venues both in the U.S. and internationally. The ONE Group’s focus is to be the global leader in Vibe Dining, and its primary restaurant brands and operations are:

  • STK, a modern twist on the American steakhouse concept with restaurants in major metropolitan cities in the U.S., Europe and the Middle East, featuring premium steaks, seafood and specialty cocktails in an energetic upscale atmosphere.
  • Benihana, an interactive dining destination with highly skilled chefs preparing food right in front of guests and served in an energetic atmosphere alongside fresh sushi and innovative cocktails. The Company franchises Benihanas in the U.S., Caribbean, Central America, and South America.
  • Kona Grill, a polished casual, bar-centric grill concept with restaurants in the U.S., featuring American favorites, award-winning sushi, and specialty cocktails in an upscale casual atmosphere.
  • RA Sushi, a Japanese cuisine concept that offers a fun-filled, bar-forward, upbeat, and vibrant dining atmosphere with restaurants in the U.S. anchored by creative sushi, inventive drinks, and outstanding service.
  • Salt Water Social is your gateway to the seven seas, featuring an array of signature and unique fresh seafood items, complemented by the highest quality beef dishes and elegant, delicious cocktails.
  • Samurai, an interactive dining experience located in sunny Miami, FL provides a distinctive dining experience where skilled personal chefs masterfully perform the ancient art of teppanyaki right before your eyes.
  • ONE Hospitality, The ONE Group’s food and beverage hospitality services business develops, manages and operates premier restaurants and turnkey food and beverage services within high-end hotels and casinos currently operating venues in the U.S. and Europe.

Additional information about The ONE Group can be found at www.togrp.com.

Investors:
ICR
Michelle Michalski or Raphael Gross
(646) 277-1224
Michelle.Michalski@icrinc.com

Media:
ICR
Seth Grugle
(646) 277-1272
seth.grugle@icrinc.com

Source: The ONE Group Hospitality, Inc.

Released August 1, 2025

Release ACCO Brands Reports Second Quarter Results

Posted on by aweinsoff@channelchek.com

Research News and Market Data on ACCO

07/31/2025

  • Reported net sales of $395 million, within the Company’s outlook
  • Earnings per share of $0.31, adjusted earnings per share of $0.28, within outlook
  • SG&A down compared to prior year
  • Multi-year cost reduction program has yielded more than $40 million of savings
  • Third quarter and full year 2025 outlook provided

LAKE ZURICH, Ill.–(BUSINESS WIRE)– ACCO Brands Corporation (NYSE: ACCO) today reported financial results for its second quarter and six-months ended June 30, 2025.

“We reported second quarter net sales and adjusted EPS in line with our outlook. We felt the immediate disruption from the tariffs in April, with trends improving sequentially throughout the quarter. We continue to make progress on our multi-year cost reduction program realizing more than $40 million in cumulative cost savings since the plan’s inception. Our flexible global supply chain is a competitive advantage as we navigate the evolving business environment,” stated ACCO Brands’ President and Chief Executive Officer, Tom Tedford.

“We expect sales in the third quarter to moderately improve as economies stabilize, and benefit from the weakening dollar. Our momentum in new product development is accelerating, with an exciting pipeline of innovative products launching across multiple categories in the second half of the year. Our disciplined cost management and operational optimization efforts, position us well to drive enhanced long-term shareholder value as sales trends improve. We are building a resilient organization that is well-positioned to capitalize on opportunities as market conditions improve,” concluded Mr. Tedford.

Second Quarter Results

Net sales were $394.8 million, down 9.9 percent from $438.3 million in 2024. Favorable foreign exchange increased sales by $2.6 million, or 0.6 percent. Comparable sales decreased 10.5 percent. Sales in the quarter were negatively impacted by disruptions in purchasing as tariffs were announced. The decline in net sales also reflects softer global demand for consumer and business products, partially offset by growth in gaming accessories.

Operating income was $33.0 million versus operating loss of $111.2 million in 2024. The loss in 2024 was primarily due to non-cash impairment charges of $165.2 million related to goodwill and intangible assets within the Americas segment. Restructuring expense of $9.4 million compares to $0.3 million of reserve release in the prior year. Current year operating income benefited from a gain on sale of assets of $6.9 million. Adjusted operating income was $47.1 million compared to $64.6 million in 2024. The decline in adjusted operating income reflects lower sales volume and lower fixed-cost absorption which was partially offset by cost savings and lower incentive compensation expense.

Net income was $29.2 million, or $0.31 per share, compared with prior-year net loss of $125.2 million, or $(1.29) per share. Both the current and prior year results reflect the items noted above in operating income. Current year net income was positively impacted as the Company settled the outstanding tax assessments in Brazil, resulting in a net discrete tax benefit of $13.4 million. Adjusted net income was $25.8 million compared with adjusted net income of $36.6 million in 2024, and adjusted earnings per share was $0.28 compared with $0.37 in 2024.

Business Segment Results

ACCO Brands Americas – Second quarter segment net sales of $248.5 million decreased 15.0 percent from $292.3 million in the prior year. Adverse foreign exchange reduced sales by 1.1 percent. Comparable sales were $251.6 million, down 13.9 percent versus the prior year. Net sales in the quarter were negatively impacted by disruptions in customer purchases as tariffs were announced and sales improved throughout the quarter. The decline in net sales is also attributable to softer demand for certain consumer and business products, partially offset by growth in gaming accessories.

Second quarter operating income was $40.7 million compared to an operating loss of $108.7 million a year earlier. The prior year loss was primarily due to non-cash charges of $165.2 million related to the impairment of goodwill and intangible assets. Current year operating income benefited from a gain on sale of assets of $5.7 million. Adjusted operating income was $43.2 million, down from $63.2 million in the prior year. The decrease in adjusted operating income reflects lower sales volume, lower fixed-cost absorption and impacts from tariffs, partially offset by cost savings.

ACCO Brands International – Second quarter segment net sales of $146.3 million increased 0.2 percent from $146.0 million in the prior year. Favorable foreign exchange increased sales by 3.9 percent. Comparable sales were $140.6 million, down 3.7 percent versus the prior year. Comparable sales declines reflect reduced demand for certain business products, partially offset by the benefit of price increases and the acquisition of Buro Seating, as well as growth in gaming accessories.

Second quarter operating loss was $0.8 million, compared to an operating income of $7.8 million in the prior year. Restructuring expense associated with the multi-year cost reduction program of $8.6 million, compares to a reserve release of $0.3 million in the prior year. Adjusted operating income was $12.4 million compared with $11.7 million in the prior year. The increase in adjusted operating income reflects pricing actions, cost savings and lower incentive compensation expense, which more than offset the impact of lower sales volume.

Six Month Results

Net sales were $712.2 million, down 10.7 percent from $797.2 million in 2024. Adverse foreign exchange reduced sales by $9.1 million, or 1.1 percent. Comparable sales decreased 9.6 percent. Net sales declines reflect the impact from the tariff announcements, and softer global demand for consumer and business products and technology accessories categories.

Operating income was $26.3 million versus operating loss of $105.3 million in 2024, primarily due to non-cash impairment charges of $165.2 million related to goodwill and intangible assets within the Americas segment in the prior year. Restructuring expense of $11.7 million, compares to reserve releases of $0.6 million in the prior year. Adjusted operating income was $54.0 million, down from $80.8 million in 2024. Adjusted operating income decline reflects lower sales volume which was partially offset by cost savings.

Net income was $16.0 million, or $0.17 per share, compared with a net loss of $131.5 million, or $(1.37) per share, in 2024. Net income in the six-month period was positively impacted by the same items noted above for the second quarter. The prior year loss reflects the items noted above in operating income. Adjusted net income was $23.7 million compared with $39.2 million in 2024, and adjusted earnings per share were $0.25 per share compared with $0.40 per share in 2024.

Capital Allocation and Dividend

Year to date, operating cash flow was an outflow of $33.4 million versus an inflow of $2.6 million in the prior year. Adjusted free cash flow was an outflow of $23.7 million compared to an outflow of $2.3 million in the prior year. The Company’s consolidated leverage ratio as of June 30, 2025 was 4.3x.

Year to date, the Company paid dividends of $13.5 million and repurchased 3.2 million shares of common stock for $15.1 million.

Effective July 29, 2025, the Company entered into an amendment to its bank credit agreement which increases its maximum Consolidated Leverage Ratio financial covenant through 2026.

On July 25, 2025, ACCO Brands announced that its board of directors declared a regular quarterly cash dividend of $0.075 per share. The dividend will be paid on September 10, 2025 to stockholders of record at the close of business on August 22, 2025.

Full Year 2025 and Third Quarter Outlook

For the full year, the Company expects reported sales to be down in the range of 7.0% to 8.5%. Full year adjusted EPS is expected to be within a range of $0.83 to $0.90. The Company expects 2025 adjusted free cash flow to be approximately $100 million, which includes $17 million in cash proceeds from the sale of two owned facilities.

In the third quarter, the Company expects reported sales to be down within a range of 5.0% to 8.0% and adjusted EPS within a range of $0.21 to $0.24.

Both the full year and third quarter outlooks reflect a cautious view of the demand environment in reaction to evolving trade policies and continued softness in consumer and business discretionary spending.

“While the demand environment remains soft due to evolving trade policy, we do expect trends to improve in the second half of the year. We are confident in our long-term strategy to improve revenue trends and optimize our cost structure and are executing well against our strategic initiatives. We remain optimistic about our future and are confident in our leading brands,” concluded Mr. Tedford.

Webcast

At 8:30 a.m. ET on August 1, 2025, ACCO Brands Corporation will host a conference call to discuss the Company’s second quarter 2025 results. The call will be broadcast live via webcast. The webcast can be accessed through the Investor Relations section of www.accobrands.com. The webcast will be in listen-only mode and will be available for replay following the event.

About ACCO Brands Corporation

ACCO Brands is the leader in branded consumer products that enable productivity, confidence and enjoyment while working, when learning and while playing. 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.

Non-GAAP Financial Measures

In addition to financial results reported in accordance with generally accepted accounting principles (GAAP), we have provided certain non-GAAP financial information in this earnings release to aid investors in understanding the Company’s performance. Each non-GAAP financial measure is defined and reconciled to its most directly comparable GAAP financial measure in the “About Non-GAAP Financial Measures” section of this earnings release.

Forward-Looking Statements

Statements contained herein, other than statements of historical fact, particularly those anticipating future financial performance, business prospects, growth, strategies, business operations and similar matters, results of operations, liquidity and financial condition, and those relating to cost reductions and anticipated pre-tax savings and restructuring costs are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the beliefs and assumptions of management based on information available to us at the time such statements are made. These statements, which are generally identifiable by the use of the words “will,” “believe,” “expect,” “intend,” “anticipate,” “estimate,” “forecast,” “project,” “plan,” and similar expressions, are subject to certain risks and uncertainties, are made as of the date hereof, and we undertake no duty or obligation to update them. Forward-looking statements are subject to the occurrence of events outside the Company’s control and actual results and the timing of events may differ materially from those suggested or implied by such forward-looking statements due to numerous factors that involve substantial known and unknown risks and uncertainties. Investors and others are cautioned not to place undue reliance on forward-looking statements when deciding whether to buy, sell or hold the Company’s securities.

Our outlook is based on certain assumptions which we believe to be reasonable under the circumstances. These include, without limitation, assumptions regarding consumer demand, tariffs, global geopolitical and economic uncertainties, and fluctuations in foreign currency exchange rates; and the other factors described below.

Among the factors that could cause our actual results to differ materially from our forward-looking statements are: changes in trade policy and regulations, including changes in trade agreements and the imposition of tariffs, and the resulting consequences; global political and economic uncertainties; a limited number of large customers account for a significant percentage of our sales; sales of our products are affected by general economic and business conditions globally and in the countries in which we operate; risks associated with foreign currency exchange rate fluctuations; challenges related to the highly competitive business environment in which we operate; our ability to develop and market innovative products that meet consumer demands and to expand into new and adjacent product categories; our ability to successfully expand our business in emerging markets and the exposure to greater financial, operational, regulatory, compliance and other risks in such markets; the continued decline in the use of certain of our products; risks associated with seasonality, the sufficiency of investment returns on pension assets, risks related to actuarial assumptions, changes in government regulations and changes in the unfunded liabilities of a multi-employer pension plan; any impairment of our intangible assets; our ability to secure, protect and maintain our intellectual property rights, and our ability to license rights from major gaming console makers and video game publishers to support our gaming accessories business; our ability to grow profitably through acquisitions, and successfully integrate them; our ability to successfully execute our multi-year restructuring and cost savings program and realize the anticipated benefits; continued disruptions in the global supply chain; risks associated with inflation and other changes in the cost or availability of raw materials, transportation, labor, and other necessary supplies and services and the cost of finished goods; risks associated with outsourcing production of certain of our products, information technology systems and other administrative functions; the failure, inadequacy or interruption of our information technology systems or its supporting infrastructure; risks associated with a cybersecurity incident or information security breach, including that related to a disclosure of personally identifiable information; risks associated with our indebtedness, including limitations imposed by restrictive covenants, our debt service obligations, and our ability to comply with financial ratios and tests; a change in or discontinuance of our stock repurchase program or the payment of dividends; product liability claims, recalls or regulatory actions; the impact of litigation or other legal proceedings; the impact of additional tax liabilities stemming from our global operations and changes in tax laws, regulations and tax rates; our failure to comply with applicable laws, rules and regulations and self-regulatory requirements, the costs of compliance and the impact of changes in such laws; changes in trade policy and regulations, including changes in trade agreements and the imposition of tariffs, and the resulting consequences; our ability to attract and retain qualified personnel; the volatility of our stock price; risks associated with circumstances outside our control, including those caused by telecommunication failures, labor strikes, power and/or water shortages, public health crises, such as the occurrence of contagious diseases, severe weather events, war, terrorism and other geopolitical incidents; and other risks and uncertainties described in “Part I, Item 1A. Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2024, and in other reports we file with the Securities and Exchange Commission.

View full release here.

For further information:

Christopher McGinnis
Investor Relations
(847) 796-4320

Kori Reed
Media Relations
(224) 501-0406

Source: ACCO Brands Corporation

Release – FAT Brands Inc. Reports Second Quarter 2025 Financial Results

Posted on by aweinsoff@channelchek.com

Research News and Market Data on FAT

07/30/2025

Conference call and webcast today at 4:30 p.m. ET

LOS ANGELES, July 30, 2025 (GLOBE NEWSWIRE) — FAT (Fresh. Authentic. Tasty.) Brands Inc. (NASDAQ: FAT) (“FAT Brands” or the “Company”) today reported financial results for the fiscal second quarter ended June 29, 2025.

Andy Wiederhorn, Chairman of FAT Brands, said: “Backed by a robust pipeline of roughly 1,000 signed deals, we opened 18 new locations during the second quarter, including three co-branded Marble Slab Creamery and Great American Cookies stores, and are well positioned to meet our goal of more than 100 restaurant openings this year. In Florida, we’ve signed a development deal to open 40 additional Fatburger locations over the next decade, growing our state presence to approximately 50 locations. Our diversified portfolio strategy is paying dividends, led by a strong performance in our snacks segment. We are also seeing meaningful impact from our digital initiatives. At Great American Cookies, digital sales now account for 25% of total revenue with loyalty-driven sales up 40% while Round Table Pizza is experiencing 21% loyalty-driven sales growth and 18% higher customer engagement.”

Ken Kuick, Co-Chief Executive Officer and Chief Financial Officer of FAT Brands said: “We continue to take decisive steps to strengthen our financial position, including securing a bondholder agreement to convert amortizing bonds to interest-only, which will generate an additional $30 to $40 million in annual cash flow savings. Our indenture-related dividend pause remains in effect until we reach the $25 million principal reduction threshold, preserving $36 to $40 million annually. We have also implemented over $5 million in annual G&A reductions while actively working toward refinancing our three remaining securitization silos well ahead of their July 2026 maturity. These combined actions position us to achieve cash flow positive status in the coming quarters.”

Taylor Wiederhorn, Co-Chief Executive Officer of FAT Brands, said: “A key strategic priority for us is expanding our manufacturing capacity. To support this, we are actively pursuing strategic partnerships that broaden our brand reach and strengthen our manufacturing capabilities, reinforcing our commitment to growing our market presence and delivering exceptional products to our customers.”

Fiscal Second Quarter 2025 Highlights

  • Total revenue declined 3.4% to $146.8 million compared to $152.0 million in the fiscal second quarter of 2024
    • System-wide sales declined 3.7%
    • System-wide same-store sales declined 3.9%
    • 18 new store openings during the fiscal second quarter of 2025
  • Net loss of $54.2 million, or $3.17 per diluted share, compared to $39.4 million, or $2.43 per diluted share, in the fiscal second quarter of 2024
  • Negative EBITDA(1) of $6.0 million compared to EBITDA(1) of $6.8 million in the fiscal second quarter of 2024
  • Adjusted EBITDA(1) of $15.7 million in the fiscal second quarter of 2025 and 2024
  • Adjusted net loss(1) of $49.0 million, or $2.88 per diluted share, compared to adjusted net loss(1) of $30.9 million, or $1.93 per diluted share, in the fiscal second quarter of 2024

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

Summary of Fiscal Second Quarter 2025 Financial Results

Total revenue decreased $5.2 million, or 3.4%, in the second quarter of 2025 to $146.8 million compared to $152.0 million in the year-ago quarter, primarily driven by a decrease in restaurant revenue resulting from the closure of five underperforming Smokey Bones locations, the temporary closure of one Smokey Bones location for conversion into a Twin Peaks lodge and lower same-store sales, partially offset by the opening of new Twin Peaks lodges.

General and administrative expense increased $14.8 million, or 50.3%, in the second quarter of 2025 to $44.4 million compared to $29.6 million in the same period in the prior year, primarily due to increased share-based compensation expense related to Twin Hospitality Group Inc. and the recognition of $2.1 million in Employee Retention Credits during the prior year quarter.

Cost of restaurant and factory revenues was related to the operations of the company-owned restaurant locations and dough factory and decreased $2.1 million, or 2.1%, in the second quarter of 2025 to $98.1 million compared to $100.1 million in the year-ago quarter, primarily due to the decreased costs at company-owned restaurants and factory revenue.

Advertising expenses decreased $3.1 million in the second quarter of 2025 to $11.5 million compared to $14.7 million in the same period in the prior year. These expenses vary in relation to advertising revenues.

Total other expense, net, for the second quarter of 2025 and 2024 was $39.4 million and $34.8 million, respectively, which is inclusive of interest expense of $39.4 million and $34.0 million, respectively.

Adjusted net loss(1) was $49.0 million, or $2.88 per diluted share, compared to adjusted net loss(1) of $30.9 million, or $1.93 per diluted share, in the fiscal second quarter of 2024.

Key Financial Definitions

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

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

System-wide sales growth – System-wide sales growth reflects the percentage change in sales in any given fiscal period compared to the prior fiscal period for all stores in that brand only when the brand is owned by FAT Brands. Because of acquisitions, new store openings and store closures, the stores open throughout both fiscal periods being compared may be different from period to period.

Conference Call and Webcast

FAT Brands will host a conference call and webcast to discuss its fiscal second quarter 2025 financial results today at 4:30 PM ET. Hosting the conference call and webcast will be Andy Wiederhorn, Chairman of the Board, and Ken Kuick, Co-Chief Executive Officer and Chief Financial Officer.

The conference call can be accessed live over the phone by dialing 1-877-704-4453 from the U.S. or 1-201-389-0920 internationally. A replay will be available after the call until Wednesday, August 20, 2025, and can be accessed by dialing 1-844-512-2921 from the U.S. or 1-412-317-6671 internationally. The passcode is 13754156. The webcast will be available at www.fatbrands.com under the “Investors” section and will be archived on the site shortly after the call has concluded.

About FAT (Fresh. Authentic. Tasty.) Brands

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

Forward-Looking Statements

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

Non-GAAP Measures (Unaudited)

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

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

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

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

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

Investor Relations:

ICR
Michelle Michalski
ir-fatbrands@icrinc.com

Media Relations:

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

Release – Xcel Brands and TSC Product Lab Partner to Launch Products under the Trust. Respect. Love By Cesar Milan Brand in innovative pet electronic devices and small appliances category

Posted on by aweinsoff@channelchek.com

Research New and Market Data on XELB

July 30, 2025 at 8:00 AM EDT

PDF Version

NEW YORK, July 30, 2025 (GLOBE NEWSWIRE) — Xcel Brands (NASDAQ: XELB), a leading media and consumer products company known for building socially driven, live-commerce-focused brands, is proud to announce a strategic licensing partnership with TSC Product Lab, an innovation hub dedicated to premium lifestyle and wellness products, to launch new products for Trust. Respect. Love by Cesar Millan brand. This unique collaboration blends TSC Product Lab’s forward-thinking product development capabilities with Xcel’s expertise in omnichannel brand building, products and social commerce in the rapidly growing creator economy.

Together, Xcel and TSC Product Lab will produce a line of elevated pet products designed with purpose and functionality while keeping Cesar Millan’s philosophy at the forefront. The product line will include smart electronic devices and small appliances—all developed with pet wellbeing and human-animal harmony in mind.

“Nothing matters more these days than the health and wellness of our four legged best friends” said Rick Lapine, President of TSC Product Lab, “with that single focus we are innovating leading edge products that embody the spirit and guidance Cesar teaches, with affordable solutions for every family’s most loved companions”

With over 20 years of experience transforming the lives of dogs and their humans, Cesar Millan brings authenticity and purpose to the brand. His signature philosophy—Trust. Respect. Love—serves as the foundation for a product line built to strengthen bonds and provide practical, meaningful solutions for everyday pet ownership.

“This launch represents our continued commitment to creating lifestyle brands that resonate with modern consumers,” said Robert W. D’Loren, Chairman and CEO of Xcel Brands. “The pet space is evolving rapidly, and with TSC Product Lab’s innovation-first approach and Cesar Millan’s unmatched authenticity, we’re introducing a brand that blends education, design, and emotional connection.”

“I am very excited to add another partner to our ever-growing Trust. Respect. Love by Cesar Millan pack. Technology should bring us closer to our pets, not farther apart. This partnership is about creating smart solutions that help pet parents better understand , connect with and care for their dogs in a natural balanced way. Together, we’re shaping the future of pet products—one innovation at a time” -Cesar Millan

The brand will be available through select retailers, e-commerce platforms, and live shopping channels. This announcement further pushes Xcel’s commitment to redefining social shopping through innovative partnerships with authentic, visionary creators. For more information, visit www.xcelbrands.com

About Xcel Brands
Xcel Brands, Inc. (NASDAQ: XELB) is a media and consumer products company engaged in the design, licensing, marketing, live streaming, and social commerce sales of branded apparel, footwear, accessories, fine jewelry, home goods and other consumer products, and the acquisition of dynamic consumer lifestyle brands. Xcel was founded in 2011 with a vision to reimagine shopping, entertainment, and social media as social commerce. Xcel owns the Halston, Judith Ripka, and C. Wonder brands, as well as the co-branded collaboration brands TowerHill by Christie Brinkley, LB70 by Lloyd Boston, Trust. Respect. Love by Cesar Millan, GemmaMade by Gemma Stafford, and a brand in development with Coco Rocha and also holds noncontrolling interests or long-term license agreements in the Isaac Mizrahi brand, Orme Live and Jenny Martinez Live brands. Xcel also owns and manages the Longaberger brand through its controlling interest in Longaberger Licensing, LLC. Xcel is pioneering a true modern consumer products sales strategy which includes the promotion and sale of products under its brands through interactive television, digital live-stream shopping, social commerce, brick-and-mortar retailers, and e-commerce channels to be everywhere its customers shop. The company’s brands have generated in excess of $5 billion in retail sales via livestreaming in interactive television and digital channels alone and consisting of over 20,000 hours of content production time in live-stream and social commerce. The brand portfolio reaches in excess of 43 million social media followers with broadcast reach into 200 million households. Headquartered in New York City, Xcel Brands is led by an executive team with significant live streaming, production, merchandising, design, marketing, retailing, and licensing experience, and a proven track record of success in elevating branded consumer products companies. For more information, visit www.xcelbrands.com.

About TSC Lab Products
The Sneaky Chef Product Lab (“TSC”) is a cost-effective product development and sourcing company specializing in innovative solutions for the home. The Company’s mission is to create products and brands for leading retailers. Since 2007, TSC has built a diverse portfolio of owned, private label and exclusively licensed brands and has partnered with such legacy names such as Martha Stewart, Sodastream, GreenPan and Calvin Klein. Its network of retail partners includes HSN, QVC, Walmart, Amazon and TJX Companies among others.

Led by Rick Lapine, an industry veteran with decades of experience, TSC is supported by a full-time team of passionate experts, bringing over 30 years of combined expertise in sourcing and production. This team has helped establish TSC as a trusted partner for efficient product development, manufacturing, and logistics, with the capability to execute projects rapidly and reliably.

About Cesar Millan 
Cesar Millan is a world-renowned dog behaviorist with over 25 years of experience transforming relationships between humans and their dogs. From his original hit TV series, the Dog Whisperer, to his most recent TV series Better Human, Better Dog, to his best-selling books and iconic workshops, Cesar has become a trusted guide for millions of dog lovers worldwide. With a social media following of over 21 million people and a legacy that spans two decades on television around the world, Cesar’s influence extends far and wide. Trusted by celebrities, world leaders, and first-time pet owners alike, Cesar is committed to helping you achieve lasting harmony with your dog. Cesar moves forward in his journey with purpose and you can follow this journey at www.cesarmillan.com.

For further information please contact:
Seth Burroughs
Xcel Brands
sburroughs@xcelbrands.com

Blanca Lassalle
Publicity Contact for Cesar Millan
blanca@creativelinkny.com

Primary Logo

Source: Xcel Brands, Inc

Release – FAT Brands to Announce Second Quarter 2025 Financial Results On July 30, 2025

Posted on by aweinsoff@channelchek.com

Research News and Market Data on FAT

07/28/2025

LOS ANGELES, July 28, 2025 (GLOBE NEWSWIRE) — FAT (Fresh. Authentic. Tasty.) Brands Inc. (NASDAQ: FAT) (“FAT Brands” or the “Company”), a leading global franchising company and parent company of iconic brands including Round Table Pizza, Fatburger, Johnny Rockets, Twin Peaks, Fazoli’s and 13 other restaurant concepts, today announced that the Company will host a conference call to review its second quarter 2025 financial results on Wednesday, July 30, 2025 at 4:30 PM ET. A press release with second quarter 2025 financial results will be issued prior to the conference call that day.

The conference call can be accessed live over the phone by dialing 1-877-704-4453 from the U.S. or 1-201-389-0920 internationally. A replay will be available after the call until Wednesday, August 20, 2025, and can be accessed by dialing 1-844-512-2921 from the U.S. or 1-412-317-6671 internationally. The passcode is 13754156. Hosting the call will be Andy Wiederhorn, Chairman, and Ken Kuick, Co-Chief Executive Officer and Chief Financial Officer.

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

About FAT (Fresh. Authentic. Tasty.) Brands

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

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

Media Relations:

Erin Mandzik
emandzik@fatbrands.com

Release – ACCO Brands Corporation Declares Quarterly Dividend

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07/25/2025

    LAKE ZURICH, Ill.–(BUSINESS WIRE)– ACCO Brands Corporation (NYSE: ACCO) today announced that its board of directors has declared a quarterly cash dividend of $0.075 per share. The dividend will be paid on September 10, 2025, to stockholders of record as of the close of business on August 22, 2025.

    About ACCO Brands Corporation
    ACCO Brands is the leader in branded consumer products that enable productivity, confidence and enjoyment while working, when learning and while playing. Our widely recognized brands include AT-A-GLANCE®, Five Star®, Kensington®, Leitz®, Mead®, PowerA®, Swingline®, Tilibra® and many others. More information about ACCO Brands Corporation (NYSE: ACCO) can be found at www.accobrands.com.

    Chris McGinnis
    Investor Relations
    (847) 796-4320

    Kori Reed
    Media Relations
    (224) 501-0406

    Source: ACCO Brands Corporation

    Release – The ODP Corporation to Announce Second Quarter 2025 Results Wednesday, August 6th, 2025

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    BOCA RATON, Fla.–(BUSINESS WIRE)–Jul. 23, 2025– The ODP Corporation (NASDAQ:ODP) (“ODP,” or the “Company”), a leading provider of products, services, and technology solutions to businesses and consumers, will announce second quarter 2025 financial results before the market open on Wednesday, August 6th, 2025. The ODP Corporation will webcast a call with financial analysts and investors that day at 9:00 am Eastern Time which will be accessible to the media and the general public.

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

    About The ODP Corporation
    The ODP Corporation (NASDAQ:ODP) is a leading provider of products and services through an integrated business-to-business (B2B) distribution platform and omni-channel presence, which includes supply chain and distribution operations, dedicated sales professionals, online presence, and a network of Office Depot and OfficeMax retail stores. Through its operating companies ODP Business Solutions, LLC; Office Depot, LLC; and Veyer, LLC, The ODP Corporation empowers every business, professional, and consumer to achieve more every day. For more information, visit theodpcorp.com.

    ODP and ODP Business Solutions are trademarks of ODP Business Solutions, LLC. Office Depot is a trademark of The Office Club, LLC. OfficeMax is a trademark of OMX, Inc. Veyer is a trademark of Veyer, LLC. Grand&Toy is a trademark of Grand & Toy, LLC in Canada. Any other product or company names mentioned herein are the trademarks of their respective owners.

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

    Source: The ODP Corporation

    Release – ACCO Brands Corporation Announces Second Quarter 2025 Earnings Webcast

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    07/18/2025

      LAKE ZURICH, Ill.–(BUSINESS WIRE)– ACCO Brands Corporation (NYSE: ACCO) today announced that it will release its second quarter 2025 earnings after the market close on July 31, 2025. The Company will host a conference call and webcast to discuss the results on August 1 at 8:30 a.m. EST. The webcast can be accessed through the Investor Relations section of www.accobrands.com and will be available for replay.

      About ACCO Brands Corporation

      ACCO Brands is the leader in branded consumer products that enable productivity, confidence and enjoyment while working, when learning and while playing. 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.

      For further information:
      Christopher McGinnis
      Investor Relations
      (847) 796-4320

      Kori Reed
      Media Relations
      (224) 501-0406

      Source: ACCO Brands Corporation

      Release – Fatburger Accelerates Florida Growth with 40-Unit Development Deal

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      07/02/2025

      Iconic Burger Franchise to Increase Footprint in State to Over 40 Restaurants

      LOS ANGELES, July 02, 2025 (GLOBE NEWSWIRE) — FAT (Fresh. Authentic. Tasty.) Brands Inc., parent company of Fatburger and 17 other restaurant concepts, announces a new development deal with existing franchisee Whole Factor Inc., to open 40 additional Fatburger locations across Florida over the next 10 years, including new areas such as Jacksonville. Since 2021, Whole Factor Inc. has been steadily growing the Fatburger brand across the state with a 14-unit development deal to grow in the Orlando and Tampa areas, with two restaurants open to date in Riverview and Celebration.

      “Two years ago, Fatburger made its return to the state of Florida after a 20-year absence, and we are not looking back,” said Taylor Wiederhorn, Co-CEO and Chief Development Officer of FAT Brands. “Our Riverview and Celebration locations have exceeded expectations with an incredible fanbase that loves our cooked-to-order burgers, fries, and hand-scooped milkshakes. Whole Factor is an excellent partner that understands what makes Fatburger such a unique, beloved brand, and their future growth will cement Fatburger as a key burger player in the state of Florida.”

      “We are excited to grow Fatburger across the state with Whole Factor Inc., bringing our fresh, handcrafted burgers to more communities in the Tampa and Orlando areas in addition to entering the Jacksonville market,” said Spike Singh, Owner of Whole Factor Inc. “With a new store opening later this year in Orange Park near Jacksonville, we are eager to share Fatburger’s iconic menu and vibrant atmosphere with even more fans.”

      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 roster of toppings. Burgers can be customized with everything from bacon and eggs to chili and onion rings. In addition to its famous burgers, the Fatburger menu also includes Fat and Skinny Fries, sweet potato fries, scratch-made onion rings, Impossible™ Burgers, turkeyburgers, hand-breaded crispy chicken sandwiches, and hand-scooped milkshakes made from 100 percent real ice cream.

      For more information on Fatburger, visit www.fatburger.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 over 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™.

      Forward Looking Statements

      This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the timing and performance of new store openings and area development agreements. Forward-looking statements reflect expectations of FAT Brands Inc. (“we” or “our”) concerning the future and are subject to significant business, economic and competitive risks, uncertainties and contingencies. These factors are difficult to predict and beyond our control, and could cause our actual results to differ materially from those expressed or implied in such forward-looking statements. We refer you to the documents that we file from time to time with the Securities and Exchange Commission, such as our reports on Form 10-K, Form 10-Q and Form 8-K, for a discussion of these and other factors. We undertake no obligation to update any forward-looking statement to reflect events or circumstances occurring after the date of this press release.

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

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      Source: FAT Brands Inc.

      Release – Xcel Brands Announces Strategic Partnership with Global Fashion Icon Coco Rocha

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      June 23, 2025 at 8:00 AM EDT

      NEW YORK, June 23, 2025 (GLOBE NEWSWIRE) — Xcel Brands (NASDAQ: XELB), an industry leading media and consumer products company specializing in building influencer-driven brands through social commerce and livestreaming, is proud to announce a groundbreaking new partnership with supermodel, advocate, and founder of Coco Rocha Model Camp, Coco Rocha.

      With more than two decades at the highest level of the fashion industry—having graced over 100 magazine covers, been shot by top photographers across the globe, and walked runways for luxury fashion houses ranging from Chanel, Louis Vuitton, John Galliano, Prada and Schiaparelli to Jean Paul Gaultier, Tom Ford, Moschino, and Marc Jacobs—Coco Rocha brings a rare depth of experience and insight to this collaboration. Rocha’s illustrious career has granted her a front-row seat to the inner workings of the world’s most legendary designers. Together, Coco Rocha and Xcel Brands will develop a bold, thoughtfully crafted fashion brand designed for women who lead with both strength and style.

      “What excites me about partnering with Xcel is the opportunity to finally channel all of those unbelievable lived experiences into something of my own,” said Rocha. “This isn’t about chasing trends or putting my name on a label—it’s about designing elevated essentials that reflect the life I live now as a mother, businesswoman, and creative.”

      This collaboration aims to speak to women seeking pieces that feel as powerful and dynamic as their daily lives. Coco Rocha’s collection will deliver runway-inspired elegance with everyday practicality.

      Robert W. D’Loren, Chairman and CEO of Xcel Brands, said, “Coco Rocha is one of the most influential fashion figures of our time. Her perspective, creativity, and commitment to authenticity make her the perfect partner for our next brand launch. We are thrilled to work alongside her in building something empowering and extraordinary.”

      This announcement further pushes Xcel’s commitment to redefining modern fashion through innovative partnerships with authentic, visionary creators. For more information, visit www.xcelbrands.com  

      About Xcel Brands
      Xcel Brands, Inc. (NASDAQ: XELB) is a media and consumer products company engaged in the design, licensing, marketing, live streaming, and social commerce sales of branded apparel, footwear, accessories, fine jewelry, home goods and other consumer products, and the acquisition of dynamic consumer lifestyle brands. Xcel was founded in 2011 with a vision to reimagine shopping, entertainment, and social media as social commerce. Xcel owns the Halston, Judith Ripka, and C. Wonder brands, as well as the co-branded collaboration brands TowerHill by Christie Brinkley, LB70 by Lloyd Boston, Trust. Respect. Love. by Cesar Millan, and GemmaMade by Gemma Stafford, and also holds noncontrolling interests or long-term license agreements in the Isaac Mizrahi brand, Orme Live and Jenny Martinez Live brands. Xcel also owns and manages the Longaberger brand through its controlling interest in Longaberger Licensing, LLC. Xcel is pioneering a true modern consumer products sales strategy which includes the promotion and sale of products under its brands through interactive television, digital live-stream shopping, social commerce, brick-and-mortar retailers, and e-commerce channels to be everywhere its customers shop. The company’s brands have generated in excess of $5 billion in retail sales via livestreaming in interactive television and digital channels alone and consisting of over 20,000 hours of content production time in live-stream and social commerce. The brand portfolio reaches in excess of 40 million social media followers with broadcast reach into 200 million households. Headquartered in New York City, Xcel Brands is led by an executive team with significant live streaming, production, merchandising, design, marketing, retailing, and licensing experience, and a proven track record of success in elevating branded consumer products companies. For more information, visit www.xcelbrands.com.

      About Coco Rocha  
      Coco Rocha is an internationally acclaimed supermodel, entrepreneur, and educator who has redefined the role of a model through two decades of innovation and influence. Named Model of the Year by Elle and Marie Claire, and hailed by Vogue Paris and Vogue Italia as one of the top models of all time, she has graced the runways of every major fashion house and appeared in countless international campaigns and covers.

      Widely known as the “Queen of Pose”, Coco is considered one of the most technically proficient and versatile models of her generation. In 2014, she authored Study of Pose, a 2,000-page visual encyclopedia that has become a go-to reference for models and photographers alike. A pioneer in digital influence, Coco was the first high-fashion model to fully embrace social media—amassing millions of followers and earning recognition from Time magazine and TikTok as a leading voice in fashion.

      An outspoken advocate for model rights, she played a pivotal role in passing legislation in New York to protect underage models. In 2018, she launched the Coco Rocha Model Camp (CRMC), a first-of-its-kind program offering hands-on modeling training combined with career and business strategy. Nearly 5,000 students have trained under Coco—including Kendall Jenner, Alix Earle, Bryce Dallas Howard, Dixie D’Amelio, Tabria Majors, and more.

      She has shared her expertise through guest lectures at Harvard, Brown, and SCAD, and co-founded Nomad MGMT, a boutique modeling agency with offices in three countries. Beyond fashion, Coco is an active investor and advisor to early-stage startups in tech, media, and commerce. She lives in New York with her husband and creative partner, James Conran, and their three children.

      Coco Rocha is represented by The Lions Management.

      For further information, please contact:
      Seth Burroughs
      Xcel Brands
      sburroughs@xcelbrands.com

      For press inquiries with Coco Rocha, please contact:
      Bianca Bianconi
      Bianca.Bianconi@42West.com
      Devin Wolf
      Devin.Wolf@42West.com

      A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d9ea093c-b36d-40db-a59d-54596ed22710

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      Coco Rocha

       

      Coco Rocha

      Source: Xcel Brands, Inc