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Stock impact report

SUMR Brands Restructures Business, Sets Earnings Date

Summer Infant, Inc (SUMR)  More Company Research Source: GlobeNewswire
Last summer infant, inc earnings: 5/7 04:15 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.summerinfant.com/home/default.aspx
PDF WOONSOCKET, R.I., Feb. 14, 2020 (GLOBE NEWSWIRE) -- SUMR Brands ("SUMR Brands" or the "Company") (NASDAQ: SUMR), a global leader in premium infant and juvenile products, today announced that the Company has taken steps to further streamline operations and improve its financial outlook. The Company has begun enacting a strategic restructuring plan that it anticipates will result in annualized cost savings of approximately $7.5 million when complete. In addition to headcount savings and supplier cost concessions already implemented, the Company expects to sublease a portion of its warehousing facility in Riverside, California and vacate its UK distribution center, as well as undertake other identified initiatives. The UK closure, scheduled for the end of March, is expected to result in operating efficiencies and better customer service; international product distribution (outside North America) will, henceforth, be handled by the Company’s existing third-party facility in China. “We [Read more]
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