Revenues came in short, loss greater than expected and lowered forward guidance for revenues even with the acquisitions. I've never seen a company so clueless as to what sales will going forward. Had a few shares because I liked the brands, knew mgmt was weak but had no idea just how pathetic. Only hope is a real company with capable management buys them out. I'm gone.
You place a lot more emphasis on beating anal-yst expectations than I do. Did they know that most major programs would roll out in Q3 vs Q2 last year? Did they consider what the programs to increase store operating margins, including closing stores, would do to margins?
I'm not thrilled with the results, but don't object to increased annual guidance and a stock buyback program.
They lowered guidance, not increased as you suggested. Also I have not seen any news about a stock buy back. Where are you getting your info?
Lifetime Brands Lowers 2007 Outlook Thursday August 2, 10:59 am ET Lifetime Brands Lowers Top of 2007 Profit Outlook, Sales Ranges, Shares Fall
GARDEN CITY, N.Y (AP) -- Lifetime Brands Inc., which designs and markets kitchenware and home decor, lowered the high end of its 2007 profit and sales outlook ranges Thursday after reporting a wider second quarter loss. The company said it now expects earnings per share between $1.40 and $1.60 for the year on revenue between $530 million and $550 million.
Previously, the company said it expected earnings between $1.40 per share to $1.70 per share on revenue of $540 million to $575 million.