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Phoenix Footwear adds Bahama line,[link widoczny dla zalogowanych]
Phoenix said it has concurrently signed a license agreement with the Bahama division of Oxford Industries to design,[link widoczny dla zalogowanych], manufacture and distribute the nameplate leather goods,[link widoczny dla zalogowanych], accessories,[link widoczny dla zalogowanych], shoes and other items.
Phoenix chief financial officer Ken Wolf,[link widoczny dla zalogowanych], who declined to discuss financial details of the agreements,[link widoczny dla zalogowanych], said the goods will be sold in Bahama retail stores and department outlets like Neiman Marcus, Saks Fifth Avenue and Nordstrom.
Oxford Tommy Bahama group operates about 50 Bahama shops and four Indigo Palms stores,[link widoczny dla zalogowanych]. Phoenix said it will manufacture the Bahama product lines at its facilities in Commerce and Tennessee,[link widoczny dla zalogowanych].
The Carlsbad company also announced a net loss for the second quarter of $1 million,[link widoczny dla zalogowanych], or 14 cents a share,[link widoczny dla zalogowanych], compared with net income of $643,000,[link widoczny dla zalogowanych], or 12 cents a share, a year earlier.
Sales in the quarter through July 2 increased by 10.6 percent, to $15.4 million.
"We had a tough quarter related to our Altama division (which produces Army boots) and difficulties with the Department of Defense,[link widoczny dla zalogowanych]," Wolf said.
The company said the government is now accepting contracted shipments and that Altama is posting sales in line with levels the company reached in late 2004 and early this year,[link widoczny dla zalogowanych].
The company recently purchased the Chambers Belt Co.,[link widoczny dla zalogowanych], and also issues apparel under the Royal Robbins imprint.
Phoenix said it expects to report annual revenue of $100 million to $110 million and earnings per share of 42 cents to 47 cents. The company shares closed yesterday at $6.70,[link widoczny dla zalogowanych], up 39 cents.
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