Lifetime Brands reports Q4 adjusted EPS 22c vs (3c) last year

Reports Q4 revenue $207.041M vs $255.858M last year. Rob Kay, Lifetime’s Chief Executive Officer, commented, "Our core business continues to deliver solid performance in the face of industrywide challenges, as a result of our strong market share position and proactive cost management actions. Our fourth quarter results reflect the ongoing impact of reduced orders from our customers as retailers continue to focus on rightsizing their inventory levels. Inflationary and other macro-economic challenges also contributed to weaker end market demand, especially in our European markets. Despite the difficult environment, our efforts to reduce costs, restructure our European operations and identify efficiencies throughout the business have driven improved gross margins and continued strong cash flow generation, and we believe that the Company is well positioned for continued top and bottom line growth."