Recent News

Tarrant Apparel Group to Announce First Quarter Results on Monday, May 12th

Tarrant Apparel Group (NASDAQ:TAGS) announced that it will release its first quarter results for the period ended March 31, 2008 on Monday, May 12th after the market closes. The Company will hold a conference call to discuss the results later that day.

The conference call will take place at 4:30 p.m. eastern time. Interested parties may access the call by dialing 877-723-9520 (domestically) or 719-325-4835 (internationally). Please use passcode 4818084. A replay of the call will be available until June 12, 2008. To access the replay, interested parties should dial 800-448-0609 or 402-220-0224. Please use passcode 4818084. The call will also be webcast and may be accessed on the home page of the Companys website at www.tags.com.

Hanesbrands Inc. Elects Ronald L. Nelson to Board of Directors

Hanesbrands Inc. (NYSE: HBI) announced that Ronald L. Nelson, chairman and chief executive officer of Avis Budget Group, Inc., has been elected to the companys board of directors, effective July 21, 2008.

Nelson, 55, will serve for a term scheduled to end at the 2009 annual meeting of stockholders and will serve on the boards audit committee. With Nelsons election, the Hanesbrands board will have 10 members.

Since 2006, Nelson has led Avis Budget Group, Inc., one of the worlds largest general-use car rental companies and operator of the Avis and Budget brands in North America, Latin America, the Caribbean, Australia and New Zealand. Prior to his current position, he held leadership roles with Avis Budgets predecessor, Cendant Corporation, including president, chief financial officer and director with responsibility for strategic and financial planning, treasury, financial reporting and accounting, and other functions.

We look forward to Ron, with his wealth of experience, joining the Hanesbrands board, said Hanesbrands Chairman Lee A. Chaden. Rons leadership of a global company with large consumer brands and his strategic planning, finance and merger and acquisition experience will be great assets to our company.

In addition to Avis Budget and Cendant, Nelson has held senior management positions with DreamWorks SKG and Paramount Communications, Inc. He previously served as a director of Charter Communications, Inc., Paramount Communications, and Advanced Tissue Sciences, Inc. He earned his MBA at the University of California at Los Angeles and earned his bachelors degree at the University of California at Berkeley.

Hanesbrands Inc.

Hanesbrands Inc. is a leading marketer of innerwear, outerwear and hosiery apparel under strong consumer brands, including Hanes, Champion, Playtex, Bali, Just My Size, barely there and Wonderbra. The company designs, manufactures, sources and sells T-shirts, bras, panties, mens underwear, childrens underwear, socks, hosiery, casualwear and activewear. Hanesbrands has approximately 50,000 employees in more than 25 countries.

Blue Holdings Announces the Appointment of Eric R. Hohl as its New Chief Financial Officer

Blue Holdings, Inc. (NASDAQ:BLUE), a designer, manufacturer and distributor of high-end fashion jeans, today announced the appointment of industry veteran, Eric R. Hohl as its new Chief Financial Officer, effective May 5, 2008. Mr. Hohl succeeds Larry Jacobs, who resigned from his position to pursue other opportunities. In this role, Mr. Hohl will be a key member of Blue Holdings, Inc.s executive management team with responsibility for all finance functions. He will report directly to Glenn Palmer, Blue Holdings, Inc.s President and Chief Executive Officer.

Mr. Hohl has more than 16 years of financial and senior level management experience as both chief financial officer and chief operating officer of start-ups to $100 million retail, apparel and technology companies. Prior to joining Blue Holdings Mr. Hohl served as Executive Vice President and Chief Financial Officer of Ashworth Inc. (Nasdaq: ASHW), where he was responsible for all accounting and finance functions, including SEC reporting and SOX compliance. Previously, Mr. Hohl was Chief Financial Officer at ISE Corporation, where he helped develop and implement short- and long-range corporate strategies for growth, profitability and control. Mr. Hohl also served as chief financial officer for Ritz Interactive, Inc. where during his tenure revenue grew from $19 million to $70 million. Mr. Hohl was a member of the initial management team of Billabong USA, a surf apparel company, where he was responsible for many facets of the start up of the company. Earlier in his career, Mr. Hohl spent six years as one of the initial members of the senior management team of Mossimo, Inc., guiding the company through a rapid stage of development. Mr. Hohl, 46, holds an M.B.A. from the University of Southern California and a B.A. from University of California, Davis.

I am very pleased to have Eric join our team, stated Glenn Palmer, President and Chief Executive Officer. With his extensive financial experience and apparel industry expertise, Eric will be instrumental in ensuring we focus our efforts on the areas that will result in meaningful progress on our strategic plan and benefit both the Company and our shareholders, specifically, implementing new accounting systems and inventory controls.

About Blue Holdings, Inc.

Blue Holdings, Inc., directly and through its wholly owned subsidiaries, Antik Denim, LLC and Taverniti So Jeans, LLC, designs, develops, manufactures, markets, distributes and sells high-end fashion jeans, apparel, and accessories under the Antik Denim, Yanuk, Taverniti So Jeans, and Faith Connexion brands both in the United States and internationally. Blue Holdings currently sells mens, womens and childrens styles. Antik Denim, Yanuk, Taverniti So and Faith Connexion jeans and apparel are made from high-quality fabrics milled in the United States, Japan, Italy and Spain, and are processed with cutting-edge treatments and finishes. Blue Holdings concepts, designs, embellishments, patent-pending pockets and great attention to detail and quality give it a competitive advantage in the high-end fashion jeans market.

True Religion to Report First Quarter Results on May 8, 2008

True Religion Apparel, Inc. (Nasdaq:TRLG) today announced that the company will release its first quarter financial results after the market closes on Thursday, May 8, 2008. True Religion management also will host a conference call that afternoon at 4:30 p.m. ET (1:30 p.m. PT) to discuss the financial results and answer questions.

The conference call will be available to interested parties through a live webcast at www.truereligionbrandjeans.com. Please visit the Web site and select the Investor Relations link at least 15 minutes prior to the start of the call to register and download any necessary software.

A telephone replay of the call will be available for approximately one week following the conclusion of the call by dialing (800) 406-7325 (domestic) or (303) 590-3030 (international) and entering passcode: 3875598.

About True Religion Apparel, Inc.

True Religion Apparel, Inc. is a growing, design-based premium aspirational brand. The company designs, manufactures and markets True Religion Apparel products, including its premium True Religion Brand Jeans. Its expanding product line, which includes high quality distinctive styling and fit in denim, sportswear, and licensed products, may be found in premium department stores and boutiques in 50 countries around the world, including the United States, Canada, Germany, United Kingdom, Japan, Korea, France, Spain, Sweden, Greece, Italy, Mexico, Australia, South Africa and China. For more information, please visit www.truereligionbrandjeans.com.

bebe stores, inc. Announces Third Quarter Earnings


bebe stores, inc. (NASDAQ:BEBE) announced unaudited financial results for the third quarter ended April 5, 2008.

Net sales for the thirteen week period ended April 5, 2008 were $151.7 million versus $154.4 million reported for the fourteen week period ended April 7, 2007, which included approximately $10 million in sales due to the additional week in fiscal 2007. Excluding sales from the additional week in fiscal 2007, sales increased 4.7% compared to the corresponding thirteen week period in the prior year. Same store sales for the thirteen week period ended April 5, 2008 decreased 7.6% compared to a decrease of 0.4% for the thirteen week period in the prior year.

Gross margin as a percentage of net sales decreased to 43.8% in the third quarter of fiscal 2008, compared to 45.3% in the third quarter of fiscal 2007. The decrease in gross margin as a percentage of net sales from the prior year of 1.5% was primarily due to unfavorable occupancy partially offset by higher merchandise margin. In addition, gross margin in the third quarter of fiscal 2007 included substantial raw material reserve reversals.

SG&A expenses for the third quarter of fiscal 2008 were $59.0 million, or 38.9% of net sales, compared to $54.1 million, or 35.1% of net sales for the same period of the prior year. The increase in SG&A expenses as a percent of sales is primarily due to higher total compensation expense, advertising expense and the recording of an impairment charge of $773,000 for three underperforming store locations.

Operating income for the third quarter of fiscal 2008 was $7.3 million or 4.9% of net sales, compared to $15.7 million or 10.2% of net sales for the same period of the prior year.

The effective tax rate for the third quarter of fiscal 2008 decreased to 33.6% from 35.9% in the third quarter of fiscal 2007, primarily due to an increase in tax free interest income as a percent of total pretax income and an increase in our allowable domestic manufacturing deduction during the current year.

Net income for the third quarter is $8.3 million compared to $12.9 million for the same period in the prior year. Diluted earnings per share for the third quarter is $0.09 compared to $0.14 per share in the prior year. Before the impairment charge of $773,000 related to the three underperforming stores, diluted earnings per share and net income would have been $0.10 and $8.9 million, respectively. The prior year earnings per share included approximately $0.02 per share related to the additional week in fiscal 2007.

Net sales for the year-to-date period ended April 5, 2008 were $516.1 million, up 1.6% from $508.2 million for the year-to-date period ended April 7, 2007. Fiscal 2007 includes an additional week of sales due to the 53rd week in fiscal 2007. Same store sales for the year-to-date period ended April 5, 2008 decreased 8.3% compared to an increase of 5.9% in the prior year. Due to the 53rd week in fiscal 2007, same store sales exclude the additional week from fiscal January 2007.

Net income for the year-to-date period ended April 5, 2008 is $47.1 million compared to $57.6 million in the prior year. Diluted earnings per share for the year-to-date period ended April 5, 2008 is $0.51 compared to $0.61 per share in the prior year.

As of April 5, 2008, we had cash and investments totaling approximately $355 million of which approximately $271 million were invested in auction rate securities ("ARS"). Due to the recent failures of these auctions we are in the process of evaluating the proper classification and amount of any potential impairment charge. Because our ARS are comprised of federally insured student loan backed securities and insured municipal and education authority bonds we believe the impairment to be temporary. Therefore we anticipate recording an unrealized loss in the other comprehensive income component of shareholders equity in our third quarter 10-Q filing.

During the quarter ended April 5, 2008, the Company opened four stores, including three bebe stores and one BEBE SPORT store, closed four bebe stores, where leases had expired and not renewed, and expanded one existing bebe store resulting in total square footage growth of 1%.

For the year-to-date period the Companys capital expenditures were approximately $27 million and depreciation expense was approximately $16.6 million.

For the fourth quarter of fiscal 2008, the Company anticipates comparable store sales will be consistent with the prior two quarters and earnings per share will be in the range of $0.15 to $0.19 per share based on 90 million diluted weighted average shares outstanding, which reflect the reduction of 5 million shares repurchased in the first fiscal quarter, versus $0.21 per share based on 95 million diluted weighted average shares outstanding in the fourth quarter of fiscal 2007. The Company is currently anticipating an effective tax rate of 35.0% for the fourth quarter of fiscal 2008.

For the fourth quarter of fiscal 2008, the Company is currently planning finished goods inventory to be down on a per square foot basis compared to the fourth quarter of fiscal 2007 in the low to mid-single digit range.

bebe stores, inc. will host a conference call today at 1:30 P.M. Pacific Time to discuss second quarter results. Interested parties are invited to listen to the conference by calling (888) 889-5848. A replay of the call will be available for approximately one week by calling (866) 393-0872. A link to the audio replay will be available on our web site at www.bebe.com following the conference call.

bebe stores, inc. designs, develops and produces a distinctive line of contemporary womens apparel and accessories, which it markets under the bebe, COLLECTION bebe, BEBE SPORT, bbsp and bebe O brand names. bebe currently operates 291 stores, of which 208 are bebe stores, 20 are bebe outlet stores, 62 are BEBE SPORT stores and 1 is a bebe accessories store. These stores are located in the United States, U.S. Virgin Islands, Puerto Rico and Canada. In addition, there is an online store at www.bebe.com.

G&K Services Reports Fiscal 2008 Third Quarter Results

G&K Services, Inc. (NASDAQ: GKSR), today reported revenue for the third quarter ended March 29, 2008 of $251.1 million, a 6.8 percent increase from previous year revenue of $235.2 million. This increase in quarterly revenue was driven by rental organic growth, strong revenue contribution from acquisitions and the benefit of foreign currency translation.

For the quarter, operating income increased 8.1 percent compared to the prior-year period. This increase in operating income was driven by leverage from revenue growth, improved productivity and lower merchandise costs. The improvement in operating income was achieved despite continued economic softness, higher gasoline costs, increased bad debt expense, lower contribution from direct sales and expenses related to systems implementation activities.

The company reported third quarter earnings of $0.54 per diluted share. Prior-year third quarter earnings were $0.57 per diluted share, and reflected an unusually low effective tax rate of 25.4 percent. The lower effective tax rate resulted in a $0.11 per diluted share benefit in the prior-year third quarter.

For the nine months ended March 29, 2008, revenue increased to $750.2 million, up 8.9 percent as compared to the prior-year period. This record level of revenue was driven by rental organic growth, strategic acquisitions and the benefit of foreign currency translation.

For the nine month period, operating income increased 20.6 percent compared to the prior-year period. The increase in year-to-date operating income was driven by overall revenue growth, lower merchandise costs and savings achieved from on-going productivity initiatives. The improvement in operating income was achieved despite continued economic softness, higher gasoline costs, increased bad debt expense, lower contribution from direct sales and systems implementation expenses.

Earnings per diluted share for the first nine months of fiscal 2008 were $1.72, an increase of 18.6 percent over the prior-year period. Earnings in the prior-year period were $1.45 per diluted share, and reflected a lower than normal effective tax rate of 33.8 percent. The lower effective tax rate resulted in a $0.10 per diluted share benefit in the prior-year nine month period.

Were pleased to report a solid third quarter and strong year-to-date increases in revenue, operating margins, earnings and cash flow, said Richard Marcantonio, chairman and chief executive officer. Importantly, our long-term vision coupled with our focus on strategic initiatives continues to deliver positive momentum in a challenging economic environment. We will continue to execute against a number of growth and productivity initiatives to drive further revenue and earnings acceleration.

The Fashion Newspaper has only published portion of this news release.  For full details please visit their website.

» Read More

Quiksilver, Inc. Announces Resignation of Heidi Ueberroth from Board of Directors

Quiksilver, Inc. (NYSE: ZQK) today announced that Heidi Ueberroth has resigned from its board of directors effective Friday, April 25, 2008.

We appreciate the contributions that Heidi made to our company while serving on our Board, said Robert McKnight, Chairman, Chief Executive Officer and President of Quiksilver, Inc. We would also like to congratulate Heidi on the recent expansion of her role with the National Basketball Association and for her contribution to the formation of their exciting NBA China venture.

Ms. Ueberroth, who joined the Quiksilver board of directors in December 2006, currently serves as President, Global Marketing Partnerships and International Business Operations for the National Basketball Association.

I have sincerely enjoyed working with Quiksilver over the past year, Ueberroth said. I believe that the company will maintain its preeminent position as the worlds leading outdoor sports lifestyle company with its Quiksilver, Roxy and DC brands. I wish the entire Quiksilver team the best of luck and look forward to following the companys progress.

About Quiksilver:

Quiksilver, Inc. (NYSE:ZQK) is the world's leading outdoor sports lifestyle company, which designs, produces and distributes a diversified mix of branded apparel, wintersports equipment, footwear, accessories and related products. The Company's apparel and footwear brands represent a casual lifestyle for young-minded people that connect with its boardriding culture and heritage, while its wintersports brands symbolize a long standing commitment to technical expertise and competitive success on the mountains.

» Read More

Rocky Brands, Inc. Announces First Quarter Fiscal 2008 Results

Rocky Brands, Inc. (Nasdaq: RCKY) yesterday announced financial results for its first quarter ended March 31, 2008.

For the first quarter of 2008, net sales decreased to $60.5 million, or 1.9% versus net sales of $61.7 million in the first quarter of 2007. Net income was $0.3 million versus net income of $0.8 million and diluted earnings per share were $0.05 compared to diluted earnings per share of $0.14 a year ago. It is important to note that the first quarter of fiscal 2007 included a one-time, after-tax reimbursement of expenses from the military of $0.4 million, or $0.07 per diluted share.

Mike Brooks, Chairman and Chief Executive Officer, commented, Our first quarter results were in-line with our internal forecasts. In light of the challenging retail environment here in the U.S. we are encouraged by our recent performance particularly the double digit sales increase for our Lehigh retail business, as well as the continued market share gains for our licensed brand Dickies. We are also pleased with our progress toward controlling production costs and believe we are on track to deliver improved profitability this year. We move ahead focused on achieving our near-term objectives and committed to better positioning our Company for long-term sales and earnings growth.

First Quarter Results

Net sales for the first quarter decreased to $60.5 million compared to $61.7 million a year ago. The decrease was attributable to a decline in wholesale sales offset by increases in retail sales and sales to the U.S. military.

Gross profit in the first quarter of 2008 was $25.9 million, or 42.9% of sales compared to $26.1 million, or 42.3% for the same period last year. It is important to note that gross profit for the first quarter of last year included a one-time, pre-tax reimbursement of expenses from the military of $0.7 million. Excluding the reimbursement, gross margin was 41.2% in the first quarter of fiscal 2007. The year-over-year improvement in gross margin was primarily due to an increase in sales price per unit and a decrease in manufacturing costs.

Selling, general and administrative (SG&A) expenses were $23.1 million, or 38.1% of sales, for the first quarter of 2008 compared to $22.3 million, or 36.2% of sales, a year ago. The increase in SG&A expenses was driven by additional selling and distribution expenses to support the growth of the retail division.

Income from operations was $2.9 million, or 4.8% of net sales, for the period compared to $3.8 million, or 6.1% of net sales, in the prior year. Excluding the aforementioned pre-tax reimbursement of $0.7 million from the military, income from operations a year ago was $3.1 million, or 5.0% of sales.

Funded Debt and Interest Expense

The Companys funded debt at March 31, 2008 was $94.1 million versus $89.9 million at March 31, 2007. Interest expense decreased to $2.4 million for the first quarter of 2008 versus $2.5 million for the same period last year.

Inventory

Inventory increased $8.0 million, or 11.2%, to $79.8 million at March 31, 2008 compared with $71.8 million on the same date a year ago. The increase in inventory is to support the expected growth in the retail division.

About Rocky Brands, Inc.

Rocky Brands, Inc. is a leading designer, manufacturer and marketer of premium quality footwear and apparel marketed under a portfolio of well recognized brand names including Rocky Outdoor Gear®, Georgia Boot®, Durango®, Lehigh®, and the licensed brands Dickies®, Zumfoot® and Michelin®.

View News Archive

Recent Articles

Results for the Three Months Ended March 29, 2008

As disclosed in previous filings, Hampshire Group sold certain assets of its Shane Hunter subsidiary on April 15, 2008. For the periods discussed herein, Shane Hunters results of operations were reflected in discontinued operations and excluded from continuing operations.

Net sales from continuing operations for the three months ended March 29, 2008 decreased 2.0% to $39.8 million from $40.6 million for the same period last year. The decline was the result of a decrease in volume due mainly to weak retail conditions and partially offset by higher average unit selling prices. If these retail conditions persist, which the Company believes appears likely for the balance of the year, net sales will be adversely affected in 2008.

Tom Jame Seersucker Suit
No matter the steamy summer temperatures, men still have self-expectations of looking good and wearing attractive clothing both while at work and play. With warmer months on the horizon, The Tom James Company, purveyor of luxury clothing, has developed a list of classic summer essentials to help guide men when making their summer wardrobe purchases.

Our (Tom James Company) list of summer essentials features garments designed to provide men comfort from the elements, yet the distinguished appearance they desire, said Christian Boehm, Tom James director of merchandising and marketing.

A leading publisher and a handbag maker are partnering to launch "Book in a Bag," a year-long giveaway of chic handbags filled with the newest fashion fiction.

BuddhiWear offers Hip yoga casual wear that is eco-friendly. Bold colors and more styles too!

BuddhiWear, a Columbia-based apparel company, is pleased to announce the launch of additional styles to its third line of innovative, organic, positive-inspired apparel for women, men, and children. The new additions include colored tank tops, colored onesies, and bamboo lounge pants.

NexCen Brands Inc. (Nasdaq: NEXC), owner of the Bill Blass brand, has entered into a licensing agreement with Peerless Clothing in preparation for the re-launch of the Bill Blass Mens Collection of tailored clothing. The new collection is being designed by Michael Bastian, the creative director for Bill Blass Menswear. Michael is a nominee for the CFDA (Council of Fashion Designers of America) Menswear Designer of the Year award.
Tandy Leather Factory, Inc. (AMEX: TLF) reported yesterday that sales for the month of April were $4.7 million, up 10% from April 2007 sales of $4.3 million. Year to date sales are down 4% to $18.0 million in the current year from $18.9 million last year. Tandys new UK store, which opened in mid-February, reported April sales of $42,000.

Textronics CEO Shares Start-Up Company’s Story at Smart Fabrics Conference


Textronics, Inc. CEO Stacey Burr will share the story of her start-up companys commercialization of electronic-textiles at the fourth annual Smart Fabrics conference, May 5-7, in Charleston, S.C.

Textronics, Inc., is a leader in the development of wearable sensors for fitness and health monitoring. The company sells its patented sensors and markets its own line of clothes that monitor heart rate under the brand name NuMetrex.

Burrs presentation, Insights into Health Sensor Clothing Commercialization, will take place at 3:00 p.m. on Monday, May 5. The Smart Fabrics 2008 conference is being held at the DoubleTree Guest Suites in Charlestons historic district.

As the first company to commercialize electronic textiles in a consumer garment, Textronics has played an important role in defining this emerging field and identifying market opportunities, said Burr. Her talk will address topics including how investors can help you grow, the importance of building the right team, finding partners and big customers, and identifying the right suppliers.

For more information about Textronics, Inc. and its NuMetrex line of heart sensing fitness apparel, visit www.numetrex.com.

About Textronics

Textronics, Inc. is a leader in the development of wearable sensors for fitness and health monitoring. The Companys patented textile sensor systems are capable of capturing comprehensive physiologic data from the body and are designed to be seamlessly integrated into everyday garments. Wearable monitoring allows a comfortable and user-friendly way to obtain body data measurements to assist consumers in managing their top wellness concerns of weight loss, physical health and energy level. Textronics sells sensor components and markets its own line of clothes for personal monitoring under the brand name NuMetrex. Textronics, Inc. has also received FDA clearance to market its textile electrodes for use in general electrocardiograph monitoring and recording procedures. The companys heart-sensing fabric offers a comfortable alternative to adhesive electrodes and metal wristbands that are commonly used with most ECG instruments on the market.

Responding to the growing number of parents choosing to use products that have minimal impact on the environment, PTPA Media - a company providing reviews and awarding it's seal of approval of items that have been tested and approved by parents - is announcing its first call for "green" products.

PTPA Media realizes that families are increasingly becoming more proactive and vocal about going "green" in an effort to provide a better environment for future generations.  In its ongoing pursuit to offer child and family-friendly products that are designed to enrich family living, PTPA Media plans to continue the Green Award as long as parents are persistent about living an eco-friendly lifestyle

Agenda Hydrogen Tokyo 2008
Hydrogen focuses on foreign markets and chooses Japan for a week of astonishing events.  Hydrogen dedicated its April events to Japan, the market that worldwide has been most rewarding for the company’s brands, founded and headed by Alberto Bresci.
Wendys International honored Crest Uniform, a division of ARAMARK Uniform & Career Apparel, with a 2008 Golden Link Award for Supplier Excellence. According to Wendys, Crest was selected for its uniform program because it delivered increased savings while maintaining excellent customer service.
No articles found.