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Tarrant's private label brands sell more at $47mln

15
Aug '06

Tarrant Apparel Group, a design and sourcing company for private label and private brand casual apparel, announced today results for its second quarter ended June 30, 2006. Net sales for the second quarter of 2006 increased 16.9% to $59.1 million from $50.5 million reported in the same period last year. Sales of Private Label brands were $47.6 million compared to $39.1 million in the same period of 2005. Sales of Private Brands in the second quarter of 2006 were $11.4 million compared to $11.4 million in the same period of 2005.

Gross profit for the quarter increased 10.5% to $12.7 million from $11.5 million in the year-ago period. Gross margin declined from 22.7% in the 2005 second quarter to 21.4% in the 2006 second quarter. Gross margin during the 2006 first quarter was 20.4%. Selling, general, and administrative expenses were $9.7 million in the second quarter of 2006 compared to $9.4 million in the second quarter of 2005. As a percentage of net sales, these expenses decreased to 16.4% in the second quarter of 2006 from 18.6% in the second quarter of 2005.

Royalty and marketing allowance expenses decreased to $353,000 in the second quarter of 2006 from $598,000 in the second quarter of 2005. As a percentage of net sales, these expenses decreased to 0.6% in the second quarter of 2006 from 1.2% in the second quarter of 2005.

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Tarrant Apparel Group

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