Tag: Consumer

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

Posted on by aweinsoff@channelchek.com

Research News and Market Data on QSG

May 29, 2024

PDF Version

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

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

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

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

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

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

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

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

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

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

Posted on by cpereira@noblefcm.com


Tuesday, May 21, 2024

Xcel Brands, Inc. 1333 Broadway 10th Floor New York, NY 10018 United States https:/Sector(s): Consumer Cyclical Industry: Apparel Manufacturing Full Time Employees: 84 Key Executives Name Title Pay Exercised Year Born Mr. Robert W. D’Loren Chairman, Pres & CEO 1.27M N/A 1958 Mr. James F. Haran CFO, Principal Financial & Accou

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

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

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

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

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


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

Release – Xcel Brands To Host First Quarter 2024 Earnings Call On May 20

Posted on by aweinsoff@channelchek.com

Research News and Market Data on XELB

May 16, 2024 at 8:01 AM EDT

PDF Version

NEW YORK, May 16, 2024 (GLOBE NEWSWIRE) — Xcel Brands, Inc. (NASDAQ: XELB) (“Xcel” or the “Company”), today announced that it will report its first quarter 2024 financial results on May 20, 2024. The Company will hold a conference call with the investment community on May 20, 2024, 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/r52mtx59.

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 3975904. 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, marketing, live streaming, social commerce sales of branded apparel, footwear, accessories, fine jewelry, home goods and other consumer products, and the acquisition of dynamic consumer lifestyle brands. Xcel was founded in 2011 with a vision to reimagine shopping, entertainment, and social media as one thing. Xcel owns the Judith Ripka, Halston, LOGO by Lori Goldstein, and C. Wonder by Christian Siriano brands and a minority stake in the Isaac Mizrahi brand. It also owns and manages the Longaberger brand through its controlling interest in Longaberger Licensing LLC and a 50% interest in a JV in TWRHLL (“Tower Hill”) by Christie Brinkley. Also Xcel owns a 30% interest in Orme, a short-form video market place. Xcel is pioneering a true modern consumer products sales strategy which includes the promotion and sale of products under its brands through interactive television, digital live-stream shopping, social commerce, brick-and-mortar retail, and e-commerce channels to be everywhere its customer’s shop. The company’s brands have generated in excess of $4 billion in retail sales via livestreaming in interactive television and digital channels alone. Headquartered in New York City, Xcel Brands is led by an executive team with significant live streaming, production, merchandising, design, marketing, retailing, and licensing experience, and a proven track record of success in elevating branded consumer products companies. For more information, visit www.xcelbrands.com.

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

Source:

Lifeway Foods (LWAY) – Another Record Quarter

Posted on by cpereira@noblefcm.com


Wednesday, May 15, 2024

Joe Gomes, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

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

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

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


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

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

Posted on by cpereira@noblefcm.com


Wednesday, May 15, 2024

FAT Brands (NASDAQ: FAT) is a leading global franchising company that strategically acquires, markets, and develops fast casual, quick-service, casual dining, and polished casual dining concepts around the world. The Company currently owns 17 restaurant brands: Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli’s, Twin Peaks, Great American Cookies, Hot Dog on a Stick, Buffalo’s Cafe & Express, Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Native Grill & Wings, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses, and franchises and owns over 2,300 units worldwide. For more information on FAT Brands, please visit www.fatbrands.com.

Joe Gomes, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

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

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

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


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

FAT Brands (FAT) – Facing Civil and Criminal Charges

Posted on by cpereira@noblefcm.com


Monday, May 13, 2024

FAT Brands (NASDAQ: FAT) is a leading global franchising company that strategically acquires, markets, and develops fast casual, quick-service, casual dining, and polished casual dining concepts around the world. The Company currently owns 17 restaurant brands: Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli’s, Twin Peaks, Great American Cookies, Hot Dog on a Stick, Buffalo’s Cafe & Express, Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Native Grill & Wings, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses, and franchises and owns over 2,300 units worldwide. For more information on FAT Brands, please visit www.fatbrands.com.

Joe Gomes, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

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

Criminal Charges. On Friday, it was announced the U.S. Attorney’s Office, Central District of California indicted former CEO Andrew Wiederhorn, former CFO Rebecca Hershinger, and the Company’s former accountant. The indictment is for the scheme to conceal $47 million in distributions Mr. Wiederhorn received in the form of shareholder loans from the IRS, FAT’s minority shareholders, and the broader investing public.

Civil Charges. Simultaneously, the SEC filed a civil complaint accusing Mr. Wiederhorn of using FAT cash to fund his lifestyle, while falsely telling the Company’s auditors, Board of Directors, and investors that neither he nor his family members had any direct or indirect material interest in the FAT cash used by Mr. Wiederhorn for personal expenditures.


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

The ODP Corporation (ODP) – Post Call Commentary and Updated Model

Posted on by cpereira@noblefcm.com


Friday, May 10, 2024

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.

Varis. The big news for the quarter was the decision to put the Varis unit up for sale. While we believe the long-term business opportunity for Varis is attractive, the business was just taking too long to ramp up for the amount of investment ODP was pumping into the unit. We will see what type of return the sale brings, but in any case, the reduction of costs will be favorable.

Project Core. This cost optimization program is delivering significant benefits to ODP’s overall operating results and with the program upsized to $100 million from $50 million, Project Core should provide solid opportunity to reduce cost, in our view. It will be a key driver for improved bottom line results.


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

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

The ODP Corporation (ODP) – 1Q24 First Look

Posted on by cpereira@noblefcm.com


Thursday, May 09, 2024

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.

1Q24 Results. Net sales were $1.87 billion, down from $2.11 billion in 1Q23 and slightly below our $1.95 billion estimate. A challenging overall economic environment and 56 fewer Office Depot stores, y-o-y, drove the revenue contraction. Adjusted EBITDA totaled $82 million, down from $131 million and below our $123 million estimate. Net income declined to $15 million, or $0.40/sh, from $72 million, or $1.71/sh. We had forecasted $64 million, or $1.72/sh.

A Decision on Varis. Put out the “For Sale” sign. Responding to shareholder suggestions, among other things, management and the Board came to the decision to sell the Varis unit, which just has not begun to generate revenue as originally anticipated. While waiting for the sale to occur, the operating costs of Varis have been reduced by approximately one-third.


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Commercial Vehicle Group (CVGI) – Overcoming a Weak 1Q24

Posted on by cpereira@noblefcm.com


Thursday, May 09, 2024

Joe Gomes, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

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

Electrical Systems. ES was star performer in the quarter, as increased pricing in the segment geared the segment towards positive growth. However, with two of its core end markets seeing a flat to declining demand in 2024, we expect some muted performance of the segment for the year. Management continues to focus on business wins for the segment and new facilities to supports its growth. The ES remains on a path to become the Company’s largest.

Optimization. Management continues to focus on finding ways to optimize the business and to improve profitability. The Company has rightsized some of its labor due to rising labor costs in Mexico and management has discussed offsetting cost pressure with customers. Alongside these, management has a focus on its supply chain and is looking to optimize its freight and logistics costs. The Company still has levers to pull to achieve higher optimization and cost reduction, in our view.


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Commercial Vehicle Group (CVGI) – A Tough Start to 2024

Posted on by cpereira@noblefcm.com


Tuesday, May 07, 2024

Joe Gomes, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

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

A Tough Start. While the year-over-year comparison was expected to be difficult given the record top-line performance in 1Q23 and the expected decline in Class 8 truck production, first quarter 2024 results missed our and consensus estimates. However, 1Q24 results did improve sequentially. The one bright spot remains the Electrical Systems business, which posted top-line improvement y-o-y, although operating segment operating income declined, partly due to restructuring costs.

1Q24. Revenue declined 11.6% y-o-y to $232.1 million, below our $244 million estimate and the consensus $241 million estimate. Adjusted EBITDA totaled $12.7 million, down 35.9% y-o-y. We had forecast $15.5 million, and consensus was at $16.1 million. CVG reported adjusted net income of $4.4 million, or EPS of $0.13, versus adjusted net income of $9.2 million, or $0.28/sh in 1Q23. We were at $6.7 million and $0.20/sh, with consensus also at $0.20/sh.


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

ACCO Brands (ACCO) – Overcoming Top-Line Weakness, But Tempering Expectations for 2024

Posted on by cpereira@noblefcm.com


Monday, May 06, 2024

ACCO Brands Corporation is one of the world’s largest designers, marketers and manufacturers of branded academic, consumer and business products. Our widely recognized brands include AT-A-GLANCE®, Esselte®, Five Star®, GBC®, Kensington®, Leitz®, Mead®, PowerA®, Quartet®, Rapid®, Rexel®, Swingline®, Tilibra®, and many others. Our products are sold in more than 100 countries around the world. More information about ACCO Brands, the Home of Great Brands Built by Great People, can be found at www.accobrands.com.

Joe Gomes, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

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

Segments. Americas revenue decreased 14.3% to $197.2 million, with comp sales down 15.3%. Segment adjusted operating income declined to $12.3 million from $18.7 million. International revenues fell 6.3% to $172.6 million, with comp sales off 5.9%. Adjusted operating income was $16.9 million versus $17.5 million in 1Q23.

Factors. Both segments experienced softness in consumer and business demand for office and computer categories. Americas also felt the impact from the exit of lower margin business while International benefitted from price increases. Although computer sales are still soft, the rate of decline is moderating.


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

ACCO Brands (ACCO) – Top Line Headwinds Impact 1Q24 Results

Posted on by cpereira@noblefcm.com


Friday, May 03, 2024

ACCO Brands Corporation is one of the world’s largest designers, marketers and manufacturers of branded academic, consumer and business products. Our widely recognized brands include AT-A-GLANCE®, Esselte®, Five Star®, GBC®, Kensington®, Leitz®, Mead®, PowerA®, Quartet®, Rapid®, Rexel®, Swingline®, Tilibra®, and many others. Our products are sold in more than 100 countries around the world. More information about ACCO Brands, the Home of Great Brands Built by Great People, can be found at www.accobrands.com.

Joe Gomes, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

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

Overview. ACCO continues to see persistent consumer and business spending weakness, impacting top line revenue. However, the previously announced $60 million cost reduction program enabled the Company to grow gross margin by 120 basis points y-o-y. Management is exploring additional initiatives given the weaker than expected operating environment.

Results. Revenue declined 10.9% y-o-y to $358.9 million. Management had expected a 6.5%-8% decline. Comp sales fell 11.3%, while favorable forex added 0.4%. Adjusted operating income was $16.2 million versus $24.3 million in 1Q23. GAAP net loss was $6.3 million, or $0.07/sh, compared to a net loss of $3.7 million, or $0.04/sh, last year. Adjusted EPS was $0.03 in 1Q24, compared to $0.09/sh last year. We had forecast revenue of $370 million, a GAAP loss of $8.8 million, or a loss of $0.09/sh, and adjusted EPS of $0.01.


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1·800·Flowers.com, Inc. (FLWS) – Further Margin Improvement Appears Possible

Posted on by cpereira@noblefcm.com


Friday, May 03, 2024

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

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

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

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

Solid Q3 results. For Q3, the company reported revenue of $379.4 million, in-line with our estimate of $379.4 million. While revenues were down nearly $40 million year over year, the seasonal adj. EBITDA loss of $5.7 million was modestly better year over year. Notably, Q3 gross profit margins increased 300 basis points. The improved gross profit margin was driven by lower freight and commodity costs.

Improving revenue trends. While revenue trends are not recovering as fast as we originally hoped, there is substantial sequential quarterlyimprovement in ecommerce revenue, which was down 12% in Q1, down 6.6% in Q2 and a more moderate decrease of 4.9% in Q3. We expect that revenues will further moderate in fiscal Q4.


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