Jove Partners backs Lifetime management's efforts to increase shareholder value

By Lisa Kerner

Charlotte, N.C., Dec. 7 - Jove Partners, LP said it supports the efforts by Lifetime Brands, Inc. management to enhance long-term shareholder value.

However, the 7.8% shareholder plans to continue its "active engagement with management," according to a schedule 13D filing with the Securities and Exchange Commission.

In a letter to company chairman, president and chief executive officer Jeffrey Siegel, Jove said it was particularly encouraged Lifetime's "renewed effort to increase cash generation and optimize capital allocation."

Jove cited several positive steps the company has taken to improve including:

• Planned closings of marginal and unprofitable retail operations

• Consolidation of its West Coast warehouse facilities;

• Planned expansion of share repurchases; and

• The election of David Dangoor to the company's board of directors.

Lifetime is a Westbury, N.Y., branded consumer products company.

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