Xcel Brands Stock Slips Following Q3 Earnings: Retail’s Divided
By Stocktwits Inc | First Published Dec 23, 2024, 9:51 PM ISTThe company posted a narrower loss per share, coming at $0.06 compared to the expected loss per share of $0.13.
XCel Brands Inc. ($XELB) stock was down 6.15% on Monday morning, even as the media and consumer product company posted slightly better-than-expected third-quarter results, drawing a divided reaction from retail investors.
The company, known for its livestream shopping and social commerce, posted a narrower loss per share, coming in at $0.06 compared to the expected loss per share of $0.13, according to Stocktwits data. It reported revenue of $1.91 million, beating consensus estimates of $1.88 million.
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The company’s revenue of $1.9 million declined 28% from the third quarter of 2023. The fall was driven by a decrease in net licensing revenue, particularly the divestiture of the Lori Goldstein brand, and delayed sales due to canceled shows caused by hurricanes, the company said.
“I am pleased with the continued improvements in our operating results,” Robert W. D'Loren, CEO of Xcel Brands, said. “Despite some headwinds in the industry, this is an exciting time for our company given the growth in our brands with key retail partners and the strong pipeline of planned new brand launches in 2025. I believe we are positioned nicely for where things are going in retail.”
Retail reaction on Stocktwits has been mixed following the results.
XCel Brands stock has lost nearly 73% of its value year-to-date, trading at a year-low as of Monday morning.
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