Apparel retailer Kuhlman Company Inc has changed its fiscal year end to the last Saturday of January from December 31 in order to be more in line with retail industry norms. Therefore, it will report first quarter fiscal 2006 financial results during the week of June 12.
The company reported first quarter earnings in May last year. Additionally, it informed that its first quarter revenues are expected to roughly double to $2.6 million from $1.3 million last year. Store count at the end of the period totaled 37, as compared to 27 at the same time a year ago.
Luis Padilla, CEO, said, "Over the past 90 days we have incorporated many changes into our business model that emerged from careful analysis of areas where we could make improvements to our productivity and profitability. Real estate, merchandising and design, planning, sourcing, inventory flows, financial disciplines, and store operations were all impacted. While our first quarter margins continued to be affected by our efforts to clear inventory, we are excited to see early-stage improvements in many aspects of our business."
Scott Kuhlman, Chairman, added, "We are also pleased to announce that Mark Lukas has joined our team as President of Design. Mark brings extensive knowledge in sourcing and production from his prior experiences with Smart Shirt and Joseph Abboud, and has already been instrumental in helping us streamline our processes and reduce our cost of goods. Susan and I look forward to working closely with Mark to carry out our vision."