The company reported a noncash impairment amid declining retail flooring revenue but noted strong operating income growth in two segments.
Live Ventures recorded a $4 million noncash goodwill impairment in its fiscal second quarter, driven by a 26.2% decline in retail flooring revenue. The charge reflects weaker performance in the segment, though the company did not provide further details on the impairment’s cause or timing.
Despite the revenue drop, Live Ventures highlighted operating income growth of 32.8% in Retail Entertainment and 24% in Flooring Manufacturing. The mixed results contrast with prior periods, where flooring revenue had been a key contributor to overall performance. No consensus estimates were provided for comparison.
The company did not disclose immediate market reactions or trading activity following the announcement. The impairment is expected to impact quarterly earnings but does not affect cash flow.