LIFETIME BRANDS, INC Q4 FY2024 earnings call

• Strong fourth quarter performance with mid-single-digit sales growth and 130 basis points gross margin expansion. - E-commerce sales grew to 24% of total in Q4 and over 20% for full year, with cutlery, tableware, and home care products driving e-commerce growth. - International business gross margin improved, and Project Concorde launched for international turnaround, aiming for breakeven profitability by 2026. - Foodservice business to see fourfold growth in 2025 with new product line shipping. - Active M&A pipeline targeting new product adjacencies, foodservice, and outdoor sector. - Relocation of East Coast distribution center from NJ to MD for operational efficiency. - Tariff mitigation efforts with moving production out of China. - Investor day in November 2025 outlined to introduce management team and present strategic plan.

Consolidated: Fourth quarter net sales increased 6% to $215 million, with gross margin expanding by 130 basis points. US Segment: Sales increased 5.8% to $196 million, with e-commerce sales in Q4 having double-digit growth and club channel sales strong. International Segment: Sales increased 7.2%, gross margin improved significantly, with e-commerce a driver. Foodservice Business: 2025 forecast is fourfold growth. Dolly Parton Program: $4 million in sales expected in Q1 2025 from Dollar General delay, and the program is expanding with incremental sales.

• International business expects $5 million improvement in operating profit in 2025. - Foodservice business forecast fourfold growth in 2025. - Dolly Parton program expected to grow, with $4 million in sales in Q1 2025 from Dollar General delay. - Will provide Q1 guidance with Q1 release.

• Tariff uncertainties and their impact on production and pricing. - Soft consumer demand in early 2025 as indicated by first two months of Q1. - Macro environment headwinds and persistent inflation affecting consumer spending.

Q: About mass channel softness and e-commerce momentum A: Rob Kay discussed mass channel loss on KitchenAid side and e-commerce growth Q: Tariff exposure and China production A: Rob Kay talked about moving production out of China and tariff fluidity Q: International segment operating loss and breakeven A: Larry Winoker mentioned EBIT loss and Rob Kay discussed Project Concorde for breakeven by 2026 Q: Top line growth in 2025 A: Rob Kay mentioned momentum from foodservice, international, and Dolly Parton program Q: Dolly Parton timing and collections A: Rob Kay discussed expansion and incremental sales Q: Tariff on Cambodia and Mexico A: Rob Kay talked about Cambodia not having tariffs and Mexico facility benefits Q: Pricing power with tariffs A: Rob Kay said prices will be passed through due to tariffs