LCUT - Earnings call transcript Q3 2017

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Operator

Good day ladies and gentlemen, and welcome to the Q3 2017 Lifetime Brands' Earnings Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will follow at that time. [Operator Instructions]. I would like to introduce your host for today's conference, Ms. LHA. of Fried Harriet begin. may you Ma'am,

Harriet Fried

and Good morning, third from joining Brands' Executive you are and Vice Chief Financial and XXXX conference thank Officer. Officer; Chief quarter and today Siegel, for Winoker, call. Senior Jeff President Lifetime Chairman everyone, Larry With management us

over financial facts Siegel. of credit of its changes the in conditions, Commission. in with are non-GAAP The no economic begin, on promulgated are could company's maintain Securities statements volatility of turn With products, go SEC. calculated call forward-looking earnings to credit I'll risks under in Included GAAP. about Safe introduction, of forward-looking these this competition liquidity Reform release that to financial Litigation demand the financial in agreements, a affect effect of detailed of are to company's Jeff. Regulation Please which Harbor non-GAAP the by like and within that practices or the meaning impact reconciliation G company's company's the we Securities Lifetime's customer The exchange involve Mr. historical ability Act uncertainties, agreements, in to with ahead, requirements of markets, measures made commodities, shortages obligation the conference this and morning's that the level the accordance in to not call filings is the I'd update measures funding price the for measures changes Before including comparable of Exchange other undertakes adequate statement certain and foreign and The statements. the company fluctuations the the these under to release and those be consumer risks contains debt, the read Private availability for sources statements spending, and of general XXXX. to with comply ability and financing payment the appropriate company's an

Jeffrey Siegel

Lifetime's Harriet, results. today you, everyone morning you joining third quarter and thank for us and of good Thank overview an for

businesses, As the pure retailers, other all adapt adjusting consumers' retailers a products by has by e-commerce been and are for who new mortar and the trying contrast, watching of it fast rapidly, led like play brick By companies be announcements been our that Amazon to will closing and are know, reducing traditional wholesale reading you to as until that there online enough The change, growing brick experience household suppliers but sales. which pain and in have challenging is doing buying problem inventory quarter results. and We third to of news stores, retailers, offset habits strategies. those time are quarterly us, not declines levels, to with reflected will growing think will share, our it while does, sales, a for mortar in robust well. we e-commerce and

Fortunately, to results. a infrastructure, people several in platform investments great years e-commerce ago, committed showing are and our and building sophisticated systems we

was XXXX. of rate And of sites and sales XX% the nine In e-commerce can, in mortar suppliers, traditional and I to the our and our e-commerce the which than we of during most more decline retailers are in brick for of offset by are evidenced we the fact, months. stores, and pure to wholesale will growth, growth beginning we quarter, the sales, believe ahead for rate that online customers, play our able traditional XX% sustain as well if

so. online afford that has know our acquisition you greater, to cannot or or many the [indiscernible] pipeline can never I of do been how as don't acquisition compete targets tell As either can't simply

sales for had our weeks in buying in certainly stores, the a of on on In number weeks of reduced third quarter. and on the they adapt retailers merchandise. the habits, consumers' our reduced hand the numbers that As to hand advanced change negative quarter, have [ph] effect

XX%, weeks even was reduced on-hand decline no customer largest though Our in there by retail sales.

strategy For number that on quarter, and to of returning this the customer it particular weeks a fourth is more normalized reversing hand. appears that

is retailers will highly that profit shift levels, be maintaining more to like expect on inventory vendors would expectation, ready Our be focused to on a products Lifetime basis. and frequent

Even earnings than the do turned Our in designed year's warehouses margin record to third period, last performance lower in income when impacted adjusted quarter, EBITDA. been rose, and this gross distribution resulting have and Lifetime's per efficiently. this share though environment changing in we revenue, net our revenue

credit sales the intentionally organization to In limited up sales to this through in Lifetime simplify implement for period, dollars, Next, in our some worthwhile steps, to strengthen due certain Year-to-date, and net growth. to were our retailers year's constant concerns, and X%. approximately addition, we program but expensive

margin gross share the earnings $X.XX to compared basis XXXX Our $X.XX as rose points and XX per were period.

an currency have the adjustments the are settled contracts as purchases we course Pound our impact. related versus loss are unrealized foreign of quarter. only loss financial business, currency results, forward in include adjustments and mentioned the of a morning's in foreign the not to expected compared of a amounts reverse, As $XX,XXX the XXXX XXXX this for contracts, British to will Dollar in U.S. the permanent $XXX,XXX These therefore ordinary also of mark-to-market third release, to represent quarter The of economic inventory.

Excluding for consolidated highlights that in the the by With quarter adjustments, let's background, year. XX division. EBITDA was the XXXX, months ended September the this of with review adjusted mark-to-market prior non-cash line XX,

at looking we approximately the would same have quarter Wholesale as the the sales been credit were for of XXXX. U.S. in total our we reasons, X.X% the that shipped third segment, our Had held First, down sales by orders quarter.

ship of to orders November. those able were we most in Fortunately,

XX as areas was of were margin favorable by more up to good There a mix. Our for points, due gross basis many us well. strength other primarily customer

the strongest acquisition product older profit quarter, us XXXX, by remains discontinue us of was with business lines, we this sales in Our have enable in and afforded small limited though category. kitchenware opportunity and the business a potential. business some Even to flat used our to the

the to face us this, being number As a the of on quarter, had in development continue increased challenging products, minimal we sales. and Next offer that we leading focused of company, that net on amount SKUs Tableware accomplish inventory still potential, reduction our to lower offer, time, of declines level, per we products can floor increasing reinvention we Lifetime a dinnerware. department profitability. stores allocated next the in SKU, as to the the and by at we space, year profitability believe will part while of result greater be same offer are The and of profit the more considerable over the much

X%. note business important ago, I was to years department today, figure of think stores, XX% it's XX approximately is that at our that to total while

impacted only amount to of although In month, our addition, although deal a in Puerto our amount there Silver disruption. our Rico, employees, lost we Hurricane operations are with negligible produce and where flatware. was of they Lifetime's Maria damage Sterling for an a power immense thankfully, facility and had safe, all

can. now and bright products table to Floyd to as and operations of Our the fully was we and ceramics, in very Floyd working restored, attributable from range companies are of our we the plus and specialty storm, Lifetime, are with operating independent a to losses retailers. Fitz done gift everyday much acquisition recover lines. decorative functional acquisition September. and One they well, year. with expect number we the sell-through continue tabletop the months and Floyd our has Fitz accretive be to centerpieces, its In own, this seasonal of mirrors very and the as brand in spot Fitz distribution to insurance

Tabletop food overall We a third in home even are pleased gained number of though to that long Fitz trendsetting business, promotion the price new and that order eliminated décor the term home that although our patterns. improve place and Sale we includes up décor penetration last through business, and shifted our home In impacted were a essentially and of products, the wall took our décor, spring hydration and in SKUs. [indiscernible] Baram, Floyd's President Even Steve solutions Division. we head to of this the lunch styles which year results, year-over-year, XXXX. profitability to channels, large quarter, hydration year's bags in CEO

retail, As ship. to at the business décor unprofitable shifts wall low to internet, pieces large become

We have realistic extremely flame of well proprietary with business are LED selling at that retail. line candles, a replaced that

our million, as international $X.X Brands slightly Europe, solid strength in now of continued was in division; to Lifetime constant Turning in tools by tabletop. down were and currency, channel, the kitchen offset sales by weakness performance the net by e-commerce led gadgets,

single, moving platform. Lifetime account the and more completed XX the initiatives facility, hard through program, this Next force managers the just the is improvements work have The opened product comprehensive by customers SAP will the now our end that Similarly, business, over of lines, to are mentioned of various new are with our to distribution we beginning. all enhance of be a integrated based consolidation our businesses two a a many part consolidation before, teams, into of XXXX, in streamlining of moving sales U.K. Lifetime's and five realize and combination forward As expect of I warehouses national including of efficient Much to new system divisions. tabletop year. and already has rollout sales the project to the facility, U.S. U.S., kitchencraft in to we with management moving steps, relocation including our of ahead Coast of operations, and West very

market, quarter, us. optimal fall, In resulting safety products, important an technology of and under of focus brands. that The the chemical cookware cookware of bringing to and dishwasher SKUs The robust use that's It's of described products of level past believe fourth even part in began dishwasher period better Next, a new to rust always iron the in expansion cast the of the not initiatives us has contribute kitchenware the lifecycle and the resistant coating. important manage launch new the will a have We is in safe include and metal free an a strong capital. the been also safe. quarter. uses Lifetime the cutlery of which working on to new late offerings, As I to for development look we Mossy utensils and Sabatier of enable more higher forward value Oak our will pipeline calls, we system, which

slicers, easier kitchen cook's to and citrus garlic fruit home also designed food expanded cleanup use name gadgets, have to squeezers can and pressers, help few. of tools just reduced and including distribution We openers, tasks [ph], to a preparation

are to have we college Fitz and a Floyd makes the that is microwave, we change we an this to retailers. electric The and what plans grow collection, new accelerating to students. business retail for share What We families have hot both while doing. e-commerce in adjust our dogs traditional added and grow style need Edgekeeper and so our and is, retailers, ability product vendor perfect pending to collections, do, don't We in actions, with knife at [ph] it holiday what is and market profitably it. climate sharpener that's is the greatly environment, we must patent can our exactly growth which

to great be the many In seen We at the reduction last. on most SG&A and and also the changes is of but happening need margin first improvements, my it's now, Lifetime, it's not probably improving tenure cash What's profound, have not to flow. I focus retail. going

ourselves complacency. company, a to prided strong have There but fear there of fear on a reinvention. As to reason long is is tradition a change, no we reason

for adjustments are quarter optimistic and some Larry? updates the year, Accordingly, difficult. environment to Europe his year. final is our the performance the in section. provide retail have America in we we North in guidance the Larry made will the While company's the on of

Laurence Winoker

Jeff. Thanks

EBITDA, or per As to XXXX. as in net diluted compared as the diluted this of for XXXX per income share per quarter third which morning, Adjusted in $X.XX net XXXX $X.XX income to million A or was adjusted to XXXX was we from $X.XX the results operations $XX.X Income period diluted reconciled $X.X $X.X per reported quarter the the and ended period. of our period XXXX. million net $X.X million the $XX.X diluted EBITDA trailing $XX.X was million XXXX million for quarter. XX reconciles for release. or non-GAAP million table compared to comparable adjusted million non-GAAP income same million to months period GAAP $X.X million the $XX.X or measure share, net adjusted morning's the in as measure, XXXX, a release, for compared the versus Consolidated this in for quarter million September the $XX.X in was was for in last current for was this $X.XX income the share results reported $X.X Consolidated year. share included

challenges acquired X.X% XXXX U.S. current and or cases, quarter The of net XX.X% the in expense sales unfavorable customers. to versus $X.X year. For which things, severance, of to XXXX, and XXXX in margin were year. freight shipments, in Floyd concerns increases concerns. wholesale our to expense the is and in higher last segment as sales among decrease million absorption, partially quarter a versus were brands this decrease X% prior freight net add customer was XXXX amortization U.S. retail gross and at in inclusion of mix, and million, certain million. the that's our XX.X% for fixed the year's a shipment, of with reflects Fitz decrease higher by reflects X.X% expense, better segment, credit to The million XX.X% the $XX.X product in percentage wholesale from of net U.S. retail, quarter. our These customers' cost due purchases. last increase including the the XXXX Included expense credit. incentive in or was partially increase in to offset delaying SG&A due quarter XX.X% expense. quarter U.S. $XX in holding other some inventory compensation sales, prepaid of wholesale The quarter, the compared sales reflects was employee associated $XXX.X decreased on a in wholesale warehouses offset by sales, shipped distribution our

results currency labor lower the $XX,XXX; of discussed exchange of million million and temporary will the $X impact Dollar and products on Turning with $X.X to to offset but $XX.X increase, well. and unrealized net channel, very as this independent a year. International as British segment SG&A loss the and primarily XXXX an the to of in in associated include course, segment, expenses of for XX.X% quarter, quarter distribution versus of results. XXXX mark-to-market adjustment purchases Kitchencraft. mix contracts, of e-commerce a inventory. for represents reported of sales U.S. by rates. and freight point trade in of better balance the XXXX. International million versus XX by contract have SAP This sales the percentage constant was was a at sales, permanent in XX.X% channel, international SG&A was company's last XXXX offset warehouses, settlement a strong the $XX.X currency The XXXX were utilization year. on we the decline represents have improvement the the basis, expenses gross contracts expense, related Sales was only products in expected reverse, products. in margin settled to tableware from was earlier, foreign loss rate $XXX,XXX ordinary last the in XXXX Tableware activity versus Pound kitchenware quarter. million in a U.K. quarter and current therefore, improvement were clearance currency product caused versus decline, a XX.X% adjustments quarter The and implementation payments the XX.X% reflects compared partially the to shipped year currency kitchenware last which as the basis on approximately financial to the in the The not International

an reflects our our in of our sites wholesale retail direct year. growing versus This focus sales XXXX performance, million business, in $X.X loss For $XXX,XXX $X.X web loss a the our whose in garner versus far net segment's was segment the $XXX,XXX the in conversion rate Interest e-commerce were This repayment XXXX down largely the segment, quarter to quarter. million increase through loan million last The due both on customers, $X.X expense $X.X respect quarter in non-segment unallocated offset lower was is was million, decrease incentive With compensation expenses from term $X.X items, by greater than LIBOR million quarters, of expense. last traffic and higher debt. to year. corporate ours. were primarily

last to approximately and in effects And line quarter please XXXX and the in than expense in $XXX,XXX Our XXXX, net from effective points. jurisdictional no in for and expect the consolidated was last year. forecasted This share Equity excluding Vasconia was concludes improvement based year be change slightly full mark-to-market SG&A loss compared expense a expenses, a was the tax XX, XXXX. tax $XX.X on any earnings loss open compared adjustment, XXXX of The the A distribution At basis a sales as the mix for our quarter rate release, current prepared with million. liquidity last currency reported $XXX,XXX for reflects versus benefit in earnings Operator, and net be as XX.X% noted XX Based recorded. XXXX. for currently compensation. year. XX% higher to September effective the as $XXX,XXX sales of loss was losses, a percentage with even foreign Grupo rate excluding approximately $XXX,XXX year, margin we volume, sales, comments. in to our year, of of impact, questions. should gross which

Operator

Instructions]. [Operator

Our first from from Sidoti. Frank question comes Camma

line is Your open.

Frank Camma

morning guys. good Hey,

Jeffrey Siegel

Hey, Frank. morning good

Frank Camma

the quantify wondering impact small, non-organic in organic the [indiscernible] was true results can the -- know I for if we they but I you could so of quarter? versus the Hey. the are acquisition,

Jeffrey Siegel

it Fitz can one took on remember, the acquisitions, about last give we the owned. already and the I than small, or with we we brands. the brand acquisitions brand, made year, million that product $X on Floyd you another of to and a was we -- very was sometimes supposed example, others $X and an we that put be make -- use when less million,

of So trend. mixed it kind

Frank Camma

Yeah. count We that. can

Is Floyd -- in and quarter? add revenue Fitz did it So of the $X million

Jeffrey Siegel

but accretive, that, slightly little. About very

Laurence Winoker

seller and month, in the to We a to only much -- significant was supposed September purchase, sale bit. for And would of we it one take a that month. that part be that the that moved allowed for to August, that greater been had have

Frank Camma

it. I Oh, got

clearly I it. along about the a bit In thing you Hey seems problems. on-hand, little quarter, largest quarter. off that's the relaxing comment may fair year somewhat retail, -- also comfort the a the caught sell on one flat fourth cadence have last were clearly with interesting that bit, get statement, little assume, mean, which is result itself considering made got I you results. in you that all about you But it continued the a Is the a reverse a the Okay. this like guard, weak sort customer with in basis? for of how to going revenue I

Jeffrey Siegel

weeks exactly We really down XX%, And store dramatic of already weeks seems month all give guess that reverse inventories retail, itself. and across difference. only surprised on other The it they went We the with that turn It's turned But a our one. well. right but happening. hand were now, within which on that I maybe overall [indiscernible] their what's hand, September It's decided whatever Yes. hand, period. the guess products and weren't of kind number wait. the to off our -- well happening. was, high, I is and just very happened were I retailers turned in They situation the well. weeks we several the found as you a can't to on so

on rather not are big weeks numbers. the they hand So are small,

significant. somebody reduces, it So when is

Frank Camma

It impacts it.

Okay.

far be I model, will kind but if on. what's exactly XX month as I I get gives what full when What actually points, adjust my of the increase year -- basis back margins, where even, of you in numbers. you every the for confidence right, like as the flat old and given look now, going the almost So gives so revenue,

that give -- -- the mix that not guess, So delta it's but would obviously would be whether or in you, it's what quarter, fourth I pricing,

Jeffrey Siegel

more slightly, good they the were is It temporarily, we gone period that us they [indiscernible] China, we so it's you eliminating -- commodities -- of anything profitable, third have pricing. than where that up all levels. pretty But inventory we not customer hit have in a and some -- factories in on, know, deal of the have was because did which are on down year. pricing. back down less and pretty and is very slow else, and deal all something SKUs weeks, that quarter, next a focus not Commodities are mix bit, for to pollution. come of There But several on with. are on It's going us the we are shut you some with a that from

on a us. SKUs, for us -- profitable really part We what as did what to number really long And want the eliminate value when are less that's large consultants add anything came we they in the don't of in, are to the highly up of and SKUs -- focused that what high focus run doing. they on really

Laurence Winoker

basis nine Frank, the reminder. points a Through just as were of last year. ahead months, XX XX --

fourth that the as, the launching not So XX as says fourth be quarter. will quarter good next in

Jeffrey Siegel

it the conserve strange fourth a right now. -- will just it's retail quarter, environment We off it's because

Frank Camma

thinking the yeah, if I very guess in Right. quarters. trend, two just sort the I get totally basis the I I first the margin fourth gross that. about going mean guess implies I you obviously, from are points, versus current a get it that. still, only in was I of I it No, decline mean, quarter. XX

revenue to to probably true or e-commerce So the there of customers it's little of do don't ballpark a you percentage your versus that out I but if and is --? mortar, currently traditional measure, way is a way, this it know break given kind estimate what hard bricks

Jeffrey Siegel

-- are A but of it the do them time. about all of we don't break for But to customers don't we break the out. it talk retailers the our some You we right. play, have pure Obviously, don't lot us. do the it out have

their like country mid-XXs is quite sales their Lewis, they States, United e-commerce is this which in announced of now the XX% a to U.K., had of of of belief U.K. and operations in was We and the U.K., look week, business, business, penetration this at Head our -- much at what's the it's really here higher if and profitable. sales the versus that us our he point, has tremendously. is that and vary which Macy's brick online the numbers note, the John our you the told interesting a So mortar

shift the seeing are part important that of our we and are of -- is E-commerce dramatic it's U.K., the U.K., our advantage most worldwide. e-commerce. in the already happening it. is It's business So most in is taking our the we happening

we very to e-commerce about something in aggressively looking now. to And also understand. grow Germany, it's we really are and France are So at

So e-commerce. lot -- that and closer a but going time. certainly question over the we is Though, growth in that XX% our and XX% I will business to mortar we but are to business even to have move brick come believe there go, is possibly of no -- is not away, over going our of to e-commerce

Frank Camma

off. my makes through has hop That progressed? savings not And $XX million. I given really that, that Next, you time Previously, it of had will and Lifetime sort the on of million estimated now feel the impact do last range, question think timing, pre-tax, you an was number about exact around sense. I $XX to How

Jeffrey Siegel

faster, would and hasn't. liked it I Frankly, have much to it see happen

go it’s allowing together holding tying much and One biggest we to is than it us components the get the of products. at That back buy-in would. difficult to of of although first, versus to system lifecycle of their to by of a them was and it's handle lot develop divisions property. wrists We thought work, had the took the which rolling a longer because sort out [indiscernible] people, [ph],

over gotten that. have We

fast. had it work made make we well to all and tweaks the really have work system to to the make We

will results, get a we results yet, in How of the in sure it will but am not XXXX. I be of the good part much So XXXX.

Frank Camma

timing on you a think really, like not you seeing that a standpoint? still But ultimately, valid number based sort number, are is of from what

Jeffrey Siegel

some also are that other ways what Yes. feel and those well. improvements than planned, -- we other Absolutely. have some we And working on make as found originally was we

Frank Camma

Okay. Thanks.

Operator

question Instructions]. Andrew Capital. from And Walker Rangeley from [Operator our you. Thank next comes

is line Your open.

Andrew Walker

the question. for Hey guys. Thanks taking

up it's following last long on the surprising to me question, taking. it's Lifetime Just little a how just Next,

when since going earnings coming you a SKU start the timeline mentioning XXXX start me you been seeing on bit to and announcement. more I guys are can SG&A down? of have Like think rationalizations, little the give we

Jeffrey Siegel

very turn, their me in we We to they suggested, felt turns firm. could a ratable and put To faster timeline we outside honest be that when the though. frustrating that. timeline was consulting move you, it certainly more brought It's They in with than out on accurate. what did

take to time. it's So going

get, as said I benefits will significant, XXXX. in We

it. working are on We

We are into of the now. of that this, part SKU rationalization only benefits, to in to the which things But the and lot into fully developing is went many just a last days. most us products thing developing major -- really develop those products, gives doing versus right the systems play the XX

it taken to I would. has thought listened we am maybe it that, not about much have than I So but been them longer on and should happy not so optimistic our own.

Laurence Winoker

substantial million lot is through SG&A million most lot year-to-date, cost like of and in see foreign mean come of currency, of downs; because are of of and $X increase you And just relates that, most to that The mark-to-market. $X sales. ups a I be it clear, now of will a to that of almost

not spending. that's actual because of So

other we have some that we and added making. are safety, around in on, going bad debt have things, changes Floyd, things of other got The and retail. related some going what's have Fitz We implementation severance of because we

through So we -- non-recurring. down some is and these year-to-date. numbers things months, you because nine compensation what going not see this it's not flat, up like But fast, isn't in probably it's of slightly of that and what

our really effects this expense profile. So distorts

Andrew Walker

foreign of currency. speaking the quickly, just And Okay.

reporting you to forward? unrealized be is first this into going So your that added time quarter you currency I are back think losses the going guys adjusted how EBITDA, is

Laurence Winoker

Yes.

Jeffrey Siegel

never typically, focused simple, get they was hard the accounting. [ph] to it's of We it last where the was accounting of past, contracts, rules, participating, hedge In But immaterial. these because it pure it. plain, hedges. very are are -- year, certainly type hedges, And under on

-- little weren't what So other end when we currency, the it was September, fact contracts, we We it. and the forecast, about it -- it low into, would at the these And been companies it post like most relatively for forecast, was and we X.XXs. the has was, bank a we stable and pound of because, And qualify entered place, in -- a the bit. income. exchange of into moved [indiscernible] in and was when pre-Brexit, probably it pre worried the that otherwise entered fact Brexit the -- don't over probably rate calculation, this X.XX most was in report other mark-to-market [indiscernible] did the all comprehensive we

contracts, not the because is ride, sell which going what to we obviously understand sell we they of actually in we in denominated hedge because our rollercoaster mark-to-market, -- in Asia, are go So don't you course, not a -- sell to we away inventory -- are expected. the dollars. I purchases we them our think hedge U.K., and which the But going certainly, is in tie, all these level the

Andrew Walker

comparing apples these, would XX That's resulting you were I just out apples. the If it mean, these months don't seem know to losses I to make XX was for it now? -- purchases, entered to that pre-Brexit, So fine. I hedging like inventory are

Jeffrey Siegel

was we What couldn't the so would I number, which is called no. exchange did in the numbers rate we last the hedge well [ph], reported point out we the the great we now because can't get is in that, we the The accounting, earnings. hedge accounting, get but stands say still felt answer of out, what. really volatility, it The -- XX okay months

Andrew Walker

XX fully program, looking that say, not, a of just company you or know, balance cash Lifetime I you business, to there sure, the at -- am hit want I the will like on of the I some the in if focused investors guys an today. would the at don't you values but don't mean, you Obviously, offer you And I sheet, cost like share earlier it in guys creates know with but -- nice pretty I year, was once have cutting? stock belabor think repurchase on Next are the the point. one last generate value. focus which this then, as stock, a XXXX know, you this running the lot sheet Okay. balance is at type QX, I

would thoughts that your So love allocation? to of I type on hear capital

Laurence Winoker

discussions on We do a frequent board on our with repurchases have basis. share

we any comment we would It's final on the do made we something it's that really until we it, will have haven't warrants of certainly now, don't decisions the make the done ignore, if decision. not and to I past. a in price stock want yet. that We consider. something But

Andrew Walker

down Okay. at an in at throw offer best down justify the at just and XX. thanks is results taking I more repurchasing will I if today, think I call, turn helps mean, offer will you thought, XX, reporting these the earnings. shareholders' in turning one are forward these shares and to for But you and interest like levels I QX look

Jeffrey Siegel

Thank you.

Laurence Winoker

you. Thank

Operator

phone I you. for I questions any now to our would to the showing like further Thank back over from no closing Jeff remarks. Siegel lines. And conference turn am

Jeffrey Siegel

Thank profitably again quarter forward for many Thanks help joining us. fourth taking we our and you to an in environment. look giving on the Lifetime today's next you performance, grow We update all. year to actions are

Operator

participating in a today's you and you for the wonderful all and Ladies conclude program Everyone, does conference. have gentlemen, may This day. disconnect. thank

Lifetime Brands (LCUT) 9 Nov 172017 Q3 Earnings call transcript