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cheapbag214s
Posted: Mon 21:30, 12 Aug 2013
Post subject: Phoenix Footwear adds Bahama line
Phoenix Footwear adds Bahama line,
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Phoenix said it has concurrently signed a license agreement with the Bahama division of Oxford Industries to design,
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, manufacture and distribute the nameplate leather goods,
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, accessories,
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, shoes and other items.
Phoenix chief financial officer Ken Wolf,
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, who declined to discuss financial details of the agreements,
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, 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,
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. Phoenix said it will manufacture the Bahama product lines at its facilities in Commerce and Tennessee,
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.
The Carlsbad company also announced a net loss for the second quarter of $1 million,
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, or 14 cents a share,
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, compared with net income of $643,000,
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, 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,
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," 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,
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.
The company recently purchased the Chambers Belt Co.,
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, 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,
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, up 39 cents.
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