Summer Infant, Inc. announced that, effective February 1, 2014, Carol Bramson will become the company's new Chief Executive Officer and President, replacing Jason Macari, who has been the company's Chief Executive Officer since 2007. Macari will continue as a member of the company's Board of Directors and will serve as a consultant to the company. In addition, the company announced that Ken Price has joined Summer Infant as President of Global Sales & Marketing reporting to the CEO. Price will oversee the sales and marketing of Summer Infant's product lines, manage the sales and marketing staff, and assist in the preparation of sales projections and operating budgets. Prior to joining Summer Infant, Carol Bramson was Managing Director of 212 Equity Management, LLC. Prior to joining Summer Infant, Price co-founded S-K Victory LLC.

The company also announced preliminary unaudited financial results for the fourth quarter ended December 31, 2013 and expectations for the first quarter of 2014. The company expects to report sales for the fourth quarter of 2013 of approximately $45.0 million and a net loss in the range of $1.5 to $2.0 million. Expected results reflect slower-than-anticipated sales with a major retailer, product shipment delays and the planned exiting of two major licensing agreements.

The company expects sales for the first quarter of 2014 to be approximately flat with the fourth quarter of 2013. Reflecting progress with the company's restructuring and cost reduction efforts, the company expects to report an improvement in its bottom-line performance for the first quarter of 2014 compared with the fourth quarter of 2013.