iMedia Brands Moves Its Fourth Quarter and Full-Year 2022 Call and Webcast to Wednesday, April 12, 2023, at 8:30 a.m. ET
08 Aprile 2023 - 10:00PM
iMedia Brands, Inc. (the “Company”) (NASDAQ: IMBI, IMBIL) announced
today it has moved its earnings release date from Monday, April 10
to Wednesday April 12, 2023.
CEO Commentary – Tim Peterman,
CEO“We appreciate our investors and other stakeholders’
patience with us over these past several weeks, and I personally
apologize for this delay. We are in the final stages of completing
five financing transactions that we intend to close simultaneously.
When completed, these transactions will materially decrease our
outstanding debt and improve our credit profile as a Company. We
expect these transactions to close on Monday or Tuesday as we work
through the weekend to finalize the complexities one might expect
with simultaneous closings of multiple transactions.
As we discussed during our Capital Markets Day
in February 2022, our priorities this past year were to integrate
our 2021 strategic acquisitions, reduce our content distribution
expenses and strengthen our balance sheet. We successfully
integrated our acquisitions and reduced our content distribution
expenses, but the strengthening of our balance sheet has been
impacted by the delay in closing our previously announced
sale-leaseback transaction. Our goal is to complete our
‘strengthening our balance sheet priority’ in advance of
Wednesday.”
Webcast and Call
Information
The Company will now hold a conference call and
webcast on Wednesday, April 12, at 8:30 a.m. Eastern time to
discuss its financial results for the fourth quarter and full-year
ended January 28, 2023. The Company will report its financial
results in a press release prior to the conference call.
- Date: Wednesday, April 12,
2023
- Time: 8:30 a.m. Eastern time (7:30
a.m. Central time)
- U.S. dial-in number:
1-877-407-9039
- International dial-in number:
1-201-689-8470
- Conference ID: 1373 6484
- Webcast link: iMedia Brands 4Q
earnings webcast
The conference call and webcast will be
broadcast live and available for replay via the investor relations
section of the iMedia Brands website at www.imediabrands.com.
The replay of the conference call will be
available after 11:30 a.m. Eastern time on the same day through
April 26, 2023.
- Toll-free replay number:
1-844-512-2921
- International replay number:
1-412-317-6671
- Replay ID: 1373 6484
About iMedia Brands, Inc.iMedia
Brands, Inc. (NASDAQ: IMBI, IMBIL) is a global media company
capitalizing on the convergence of entertainment, ecommerce, and
advertising. The Company owns and operates four television
networks, which are ShopHQ, ShopBulldogTV, ShopHQHealth and 123tv.
ShopHQ, the company’s flagship television network with a
thirty-year history, is nationally distributed in the U.S. to over
90 million homes via its affiliation agreements in cable,
satellite, and broadcast, and reach viewers through its social
platforms and its OTT Ap on Roku, Apple TV, Amazon Fire and Samsung
Smart-televisions.
iMedia’s common stock is traded on the NASDAQ
Global Market stock exchange under the ticker IMBI. iMedia’s 8.5%
bonds are also publicly traded on the NASDAQ Global Market under
the ticker IMBIL and pay holders 8.5% interest quarterly in arrears
on March 31, June 30, September 30, and December 31.
Investors:Ken
Cooperkcooper@imediabrands.com(952) 943-6119
Media:press@imediabrands.com(952) 943-6125
Safe Harbor Statement under the Private
Securities Litigation Reform Act of 1995
This document contains certain “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995. Any statements contained herein that are not
statements of historical fact, including statements regarding the
anticipated closing of the sale-leaseback transaction, the value to
be received by the Company in connection with the sale-leaseback
transaction, the timing to close on the sale-leaseback transaction
and the Company's use of proceeds related thereto, the Company's
new DISH Network agreement, the Company's expected performance for
the remainder of 2022, and the Company's belief about the state of
consumer demand are forward-looking. The Company often use words
such as anticipates, believes, estimates, expects, intends, seeks,
predicts, hopes, should, plans, will, or the negative of these
terms and similar expressions to identify forward-looking
statements, although not all forward looking-statements contain
these words. These statements are based on management's current
expectations and accordingly are subject to uncertainty and changes
in circumstances. Actual results may vary materially from the
expectations contained herein due to various important factors,
including (but not limited to): variability in consumer
preferences, shopping behaviors, spending and debt levels; the
general economic and credit environment, including COVID-19;
interest rates; seasonal variations in consumer purchasing
activities; the ability to achieve the most effective product
category mixes to maximize sales and margin objectives; competitive
pressures on sales and sales promotions; pricing and gross sales
margins; the level of cable and satellite distribution for the
Company’s programming and the associated fees or estimated cost
savings from contract renegotiations; the Company’s ability to
establish and maintain acceptable commercial terms with
Fourth-party vendors and other Fourth parties with whom the Company
has contractual relationships, and to successfully manage key
vendor and shipping relationships and develop key partnerships and
proprietary and exclusive brands; the ability to manage operating
expenses successfully and the Company’s working capital levels; the
ability to remain compliant with the Company’s credit facilities
covenants; customer acceptance of the Company’s branding strategy
and its repositioning as a video commerce Company; the ability to
respond to changes in consumer shopping patterns and preferences,
and changes in technology and consumer viewing patterns; changes to
the Company’s management and information systems infrastructure;
challenges to the Company’s data and information security; changes
in governmental or regulatory requirements; including without
limitation, regulations of the Federal Communications Commission
and Federal Trade Commission, and adverse outcomes from regulatory
proceedings; litigation or governmental proceedings affecting the
Company’s operations; significant events (including disasters,
weather events or events attracting significant television
coverage) that either cause an interruption of television coverage
or that divert viewership from its programming; disruptions in the
Company’s distribution of its network broadcast to customers; the
Company’s ability to protect its intellectual property rights; the
Company’s ability to obtain and retain key executives and
employees; the Company’s ability to attract new customers and
retain existing customers; changes in shipping costs; expenses
related to the actions of activist or hostile shareholders; the
Company’s ability to offer new or innovative products and customer
acceptance of the same; changes in customer viewing habits of
television programming; logistics costs including the price of
gasoline and transportation; and the risks described from time to
time in the Company’s reports filed with the SEC, including, but
not limited to, the Company’s most recent annual report on Form
10-K, quarterly reports on Form 10-Q, and current reports on Form
8-K. Investors are cautioned not to place undue reliance on
forward-looking statements, which speak only as of the date of this
announcement. The Company is under no obligation (and expressly
disclaims any such obligation) to update or alter its
forward-looking statements whether as a result of new information,
future events or otherwise.
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