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February 12, 2013
17:15 EDTSUMRSummer Infant evaluating actions to improve strategy, operating model
Summer Infant disclosed in a regulatory filing that it is evaluating a range of actions aimed at sharpening its strategy and improving its operating model. In early February, the company’s board of directors and members of the senior management team held a meeting to review and discuss the company’s short- and long-term strategy to improve profitability and enhance shareholder value. As part of its ongoing strategic review, the company will focus on product rationalization, including a review of existing product lines, such as soft lines, gear and furniture, to ensure product offerings are consistent with the company’s growth strategy. At the same time, it will continue to invest in the innovation of its video monitor, safety, SwaddleMe and feeding products. The company also is reviewing its customer relationships and revenue streams, such as licensing agreements, to ensure that each contributes to the profitability of the company. Summer Infant’s licensing agreement with Disney, originally set to expire in December 2013, was recently concluded and the company will continue to sell-through its existing inventory of these products in 2013. In addition to previously announced cost-savings initiatives, the company is continuing to evaluate additional cost control measures and to right-size the cost structure of its business in order to optimize profitability. The company expects to provide an update on its growth strategy and profitability enhancement initiatives on its Q4 results conference call in March.
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