Xcel Brands, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 15, 2022 at 05:12 pm
Share
Xcel Brands, Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported sales was USD 3.29 million compared to USD 4.54 million a year ago. Revenue was USD 8.47 million compared to USD 10.76 million a year ago. Net income was USD 9.49 million compared to net loss of USD 1.56 million a year ago. Basic earnings per share from continuing operations was USD 0.48 compared to basic loss per share from continuing operations of USD 0.08 a year ago. Diluted earnings per share from continuing operations was USD 0.48 compared to diluted loss per share from continuing operations of USD 0.08 a year ago.
For the six months, sales was USD 6.08 million compared to USD 8.04 million a year ago. Revenue was USD 17.21 million compared to USD 18.57 million a year ago. Net income was USD 6 million compared to net loss of USD 4.11 million a year ago. Basic earnings per share from continuing operations was USD 0.31 compared to basic loss per share from continuing operations of USD 0.21 a year ago. Diluted earnings per share from continuing operations was USD 0.3 compared to diluted loss per share from continuing operations of USD 0.21 a year ago.
Xcel Brands, Inc. is a media and consumer products company. The Company is engaged in the designing, production, marketing, live streaming, and social commerce sales of branded apparel, footwear, accessories, fine jewelry, home goods and other consumer products, and the acquisition of dynamic consumer lifestyle brands. It owns the Judith Ripka, Halston, LOGO by Lori Goldstein, and C. Wonder brands and a minority stake in the Isaac Mizrahi brand. It also owns and manages the Longaberger brand. The Company is engaged in pioneering a modern consumer products sales strategy, which includes the promotion and sale of products under its brands through interactive television, digital live-stream shopping, social commerce, brick-and-mortar retail, and e-commerce channels. Judith Ripka is a luxury jewelry brand and is available in fine jewelry stores, luxury retailers and via e-commerce. Lori Goldstein brands, including LOGO by Lori Goldstein, and the brand is available through the QVC channel.