Home / Knowledge / News / Textiles / Decorize BoD approves FY 2009 plan
Decorize BoD approves FY 2009 plan
03
Jul '08
Decorize Inc a recognized leader in the home accents industry, announced certain members of the management team have purchased shares on the open market of the Company's common stock.

Vik Karode, Vice President of Operations and Steve Crowder, Chief Executive Officer have purchased shares of the Company's common stock within the last two weeks.

Their purchases came after the Board of Directors unanimously approved a change to the Company's Insider Trading Policy at the Company's June 17, 2008 Board meeting.

The new policy allows directors and officers to trade two days after filing financial reports and up to ten days prior to the end of a quarter and eliminates the restriction on the number of shares that the officers and directors may purchase each quarter.

"The new policy is consistent with other companies in this industry," stated Dan Graham, Chief Financial Officer of Decorize Inc. "This will allow the officers and directors an additional ten days each quarter for stock transactions," said
Graham.

With the previously announced conversions of debt into common stock, major shareholders, officers and directors collectively have purchased over 2,035,000 common shares of the company since February 2008.

The Board of Directors also approved the Company's fiscal year 2009 Plan which forecasts a 30% increase in sales over fiscal year 2008.

"We are continuing to see strong sales at our markets and large retailers such as Dillard's and Pottery Barn are placing orders," stated Steve Crowder, Chief Executive Officer of Decorize Inc.

"We have built an infrastructure to scale the business over the next few years to become the market leader in the home accessory and accent furniture industry.

We have eliminated over 30% of the costs typically incurred by our competitors in this industry by vertically integrating. This is evidenced by the continued quarterly improvement in our gross margins," said Crowder.

Decorize Inc


Must ReadView All

Courtesy: Pexels

Fashion | On 23rd Jun 2018

Nigerian bank launches N1 bn fund for fashion entrepreneur

Nigeria’s Bank of Industry has set aside 1 billion Naira (N) to...

Courtesy: Tayal

Textiles | On 23rd Jun 2018

Tayal textile factory in Algeria starts exports to Turkey

Algeria’s largest textile factory, the joint Algerian-Turkish company ...

Courtesy: Manhattan Beachwear

Fashion | On 23rd Jun 2018

Manhattan Beachwear in global partnership with BCBG Group

Manhattan Beachwear, the largest swimwear manufacturer in the US, has ...

Interviews View All

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search