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Panglobal brands records best best quarterly sales in history
04
Aug '09
Panglobal Brands Inc has recorded its best quarterly sales revenue in the history of the Company, growing 62% over the same quarter last year. Sales revenue for the three months ended June 30, 2009 totaled $8,600,000 versus sales revenue of $5,321,000 for the three months ended June 30, 2008. Year to date sales revenue for the nine months ended June 30, 2009 totaled $20,225,000 versus $8,400,000 for the nine months ended June 30, 2009.

We now manage our women's apparel business in three divisions-Sosik, Scrapbook, and contemporary labels. Our SoSik business continues to be our biggest seller with sales of $4,900,000 for the three months ended June 30, 2009 and year to date sales of $10,900,000. We continue to have strong customer relationships with J.C. Penney, Ross, The Buckle, Macy's and Forever 21. Under the SoSik label, we design and market junior t-shirts, dresses and sportswear.

Panglobal Brands acquired the Scrapbook label in June, 2008. Scrapbook sales contributed approximately $2,330,000 toward the revenue for the three months ended June 30, 2009 and $6,750,000 year to date. The Scrapbook label is aimed at junior (teen and early 20's) contemporary markets and is known for its mix and match prints and comfortable knit fabrics products and can be found at Nordstrom, Macy's, Dillard's and better boutiques nationwide. Its companion label CraftyCouture is a lower priced product line and its customers include Charlotte Russe, Forever 21 and Ross Stores.

Our contemporary divisions consist of Haven dresses and Tea and Honey dresses. Sales of our contemporary products totaled $1,400,000 for the three months ended June 30, 2009 and $2,700,000 year to date. Haven produces unique print dresses for the young and professional woman and can be found at Saks 5th Avenue, Nordstrom and Macy's. Tea and Honey designs and sells women's contemporary dresses and sportswear and currently sells at Macy's, Anthropologie and at boutiques nationwide.

“We believe that our stable of brands has allowed us to present a variety of alternatives to our customers and to achieve this quarter's tremendous sales growth. We continue to focus on fashion at a reasonable price and our customers perceive that we offer good value and understand's fast changing fashion trends. Our products sold well in many stores, including national department stores,” said Stephen Soller, Chief Executive Officer of Panglobal Brands Inc.

Panglobal Brands Inc

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