GARDEN CITY, N.Y.–Lifetime Brands has revised its expected results for 2007 net sales, reporting that it now estimates them to be in the $490 million to $495 million range. The company previously forecasted results between $500 million to $515 million.
Noting the “challenging retail environment,” Jeffrey Siegel, chairman, president and chief executive officer, said that the company continues “to make progress in our long-term strategic objectives,” and 2008 will benefit from the major new lines it launched in late 2007, such as the Martha Stewart Collection at Macy’s and Food Network-branded kitchen tools, gadgets and cutlery at Kohl’s, as well as the upcoming launch of its Vasconia line.
The company is finalizing its results and will report them in early March.
