22 unchanged sentences
Taylor® Owned Kitchenware and Home Solutions
+Added: Rabbit® Owned Kitchenware
+Added: Pfaltzgraff® Owned Kitchenware, Tableware and Home Solutions
BUILT NY® Owned Home Solutions
−Removed: KitchenCraft® Owned Kitchenware
+Added: Sabatier® Licensed Kitchenware
+Added: Fred® & Friends Owned Kitchenware
Kamenstein® Owned Kitchenware
−Removed: Pfaltzgraff® Owned Kitchenware, Tableware and Home Solutions
−Removed: Rabbit® Owned Kitchenware
−Removed: MasterClass® Owned Kitchenware
+Added: S'well® Owned Home Solutions
(1) The Company has a royalty free license to utilize the Farberware® brand, primarily for its kitchenware products, for a term that expires in 2195, subject to earlier termination under certain circumstances.
29 unchanged sentences
Medford, Massachusetts 5,600
−Removed: Additionally, the Company uses third-party operated distribution facilities to supplement its distribution capacity.
+Added: Additionally, the Company uses third-party operated distribution facilities to supplement its distribution capacity, including a major distribution facility located in Rotterdam, Netherlands.
+Added: As of December 31, 2022, the Company occupied 27,000 square feet of this facility.
SALES AND MARKETING
17 unchanged sentences
Most of the Company’s suppliers are located in China.
−Removed: The Company also sources products from suppliers across various countries including, Hong Kong, Taiwan, Japan, South Korea, Vietnam, Malaysia, Philippines, Thailand, India, the United States, Canada, Mexico, Peru, the U.K., Ireland, Switzerland, Italy, France, Portugal, Poland, Sweden, Turkey, Netherlands, Denmark, Belgium, Germany, Czech Republic, Slovakia, Cambodia, Indonesia and Australia.
+Added: The Company also sources products from suppliers across various countries including, Hong Kong, Taiwan, Japan, South Korea, Vietnam, Malaysia, Philippines, Thailand, India, Bangladesh, the United States, Canada, Mexico, Brazil, the U.K., Italy, Portugal, Poland, Sweden, Turkey, Netherlands, Belgium, Germany, Czech Republic, Slovakia, Cambodia, Indonesia and Australia.
The Company orders products significantly in advance of the anticipated time of their sale by the Company.
10 unchanged sentences
The Company also holds a license to use the KitchenAid brand subject to a license agreement that will expire in December 2026.
−Removed: The Company originally entered into a licensing arrangement for use of the KitchenAid brand in 2000, and has renewed the license, typically for three-year periods, since that time.
+Added: The Company originally entered into a licensing arrangement for use of the KitchenAid brand in 2000, and has renewed the license, typically for three to four year periods, since that time.
HUMAN CAPITAL
The Company aspires to hire and retain the best and brightest employees.
−Removed: At December 31, 2021, the Company had approximately 1,350 full-time employees, of whom 150 were located in Asia, 250 were located in Europe and 950 were located in the United States and Puerto Rico.
+Added: At December 31, 2022, the Company had approximately 1,260 full-time employees, of whom approximately 140 were located in Asia, 210 were located in Europe and 910 were located in the United States and Puerto Rico.
The Company also hires seasonal workers at its distribution centers through temporary staffing agencies.
1 unchanged sentence
The Company believes in the importance of the retention, growth and development of our employees.
−Removed: We believe we offer competitive compensation and benefits packages to our employees.
−Removed: Further, we offer professional development opportunities to cultivate talent throughout the Company.
−Removed: We are focused on employee health and safety initiatives and have implemented protocols during the COVID-19 pandemic to enhance workplace safety, including remote work for certain departments.
+Added: The Company believes it offers competitive compensation and benefits packages to its employees.
+Added: Further, the Company offers professional development opportunities to cultivate talent throughout the Company.
+Added: The Company is focused on employee health and safety initiatives and has implemented protocols during the COVID-19 pandemic to enhance workplace safety, including remote work for certain departments.
The Company also values diversity and inclusion and is striving to create a more diverse workforce and inclusive community.
7 unchanged sentences
The Company is subject to risks and uncertainties associated with economic and political conditions around the world, including but not limited to, foreign government regulations, taxes including value-added taxes, import and export duties/tariffs and quotas, anti-dumping regulations, incidents and fears involving security, man-made or natural disasters, health epidemics, terrorism and wars, political unrest and other restrictions on trade and travel.
−Removed: The Company’s business and working capital needs are highly seasonal with a majority of sales occurring in the third and fourth quarters.
−Removed: In 2021, net sales in the third and fourth quarters accounted for 56% of total annual net sales.
−Removed: In 2021, the Company's inventory levels increased during the fourth quarter compared to the third quarter.
−Removed: The higher inventory balance at December 31, 2021, was a result of increased inventory purchases, to maintain inventory availability and meet expected demand, and higher inventory cost.
+Added: The Company’s business and working capital needs are seasonal with a majority of sales occurring in the third and fourth quarters.
+Added: In 2022, net sales for the third and fourth quarters accounted for 54% of total annual net sales, respectively.
+Added: In anticipation of the pre-holiday shipping season, inventory levels increase primarily in the June through October time period.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.