Lifetime's Direct to Consumer division, which accounts for less than 20 percent of our sales, has faced significant challenges and, as announced in September, we expect this division to generate an operating loss for the year.
This division's problems primarily reflect the misalignment of retail inventories and unsuccessful merchandising initiatives in our Farberware Outlet Stores and Pfaltzgraff Stores.
To address these issues, we restructured the management of our Direct to Consumer division in August, appointing a new President with a successful 30-year history in the retail business. We have also strengthened the division's merchandising, sourcing and financial oversight teams.
marketing@alchempro.com
