Exhibit 99.1 FOR IMMEDIATE RELEASE XCEL BRANDS, INC. ANNOUNCES FOURTH QUARTER AND FISCAL YEAR 2023 RESULTS ● GAAP net loss of $6.8 million for the quarter, compared with GAAP net loss of$6.0 million in the prior year quarter. ● Adjusted EBITDA of ($1.2) million for the quarter, compared with Adjusted EBITDA of ($5.9) million for the prior year quarter, an improvement of $4.7 million. ● GAAP net loss of$21.1 million for the current year, compared with GAAP net loss of $4.0 million in the prior year, which ...