Lifetime Brands, Inc. reported its financial results for the third quarter and the first nine months of 2025, revealing a decline in both revenue and profitability compared to the same period in 2024. For the three months ended September 30, 2025, the company generated net sales of $171.9 million, a decrease of 6.5% from $183.8 million in the prior year. The nine-month figures also reflected a decline, with sales totaling $443.9 million, down from $467.7 million. The gross margin for the third quarter was $60.4 million, compared to $67.4 million in the same quarter last year, while the nine-month gross margin fell to $161.9 million from $179.5 million.
The company experienced a significant net loss of $1.2 million for the third quarter, contrasting with a net income of $344,000 in the same period of 2024. For the nine months ended September 30, 2025, the net loss widened to $45.1 million, compared to a loss of $24.1 million in the previous year. This downturn was attributed to a $33.2 million goodwill impairment charge recognized in the second quarter, driven by a decline in market valuation and revised forecasts due to changing consumer buying patterns and tariff policy impacts.
Operationally, Lifetime Brands reported a decrease in its U.S. segment sales, which amounted to $158.1 million for the third quarter, down from $170.2 million in 2024. The International segment saw a slight increase, with sales of $13.8 million compared to $13.6 million in the prior year. The company’s total assets decreased to $581.1 million as of September 30, 2025, from $634.3 million at the end of 2024, primarily due to reductions in cash and cash equivalents, accounts receivable, and intangible assets.
In terms of strategic developments, Lifetime Brands has been focusing on restructuring efforts, particularly within its International segment, which incurred $304,000 in restructuring expenses related to workforce reorganization. The company also reported a legal settlement gain of $6.4 million in early 2025, which positively impacted its financials. However, the company did not repurchase any shares during the nine months ended September 30, 2025, leaving $11.1 million available under its stock repurchase program.
Looking ahead, Lifetime Brands anticipates that its business will continue to be influenced by seasonal trends, with a significant portion of sales expected in the upcoming holiday season. The company remains cautious about its outlook, given the current market conditions and the potential for further impacts from changes in consumer behavior and economic factors. The management is committed to addressing operational challenges and optimizing its product offerings to enhance performance in the coming quarters.
About LIFETIME BRANDS, INC
Lifetime Brands, Inc. designs, sources, and sells branded kitchenware, tableware, and home products to consumers and retailers worldwide. Its offerings include cookware, dinnerware, cutlery, and home solutions under recognized brands like Farberware, Mikasa, and KitchenAid. The company operates through U.S. and international segments, serving mass market, specialty, department stores, and e-commerce channels with a focus on innovation, brand strength, and global sourcing.
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