"Further, we have decided to end our Kenneth Cole and Jhane Barnes tailored clothing license programs. While these brands generated over $19 million of sales in fiscal 2006."
"When 2006 operating results are finalized in late January, 2007, we expect to report full-year sales of just under $600 million and diluted earnings per share in the range of $.18 to $.20, which would reflect a small operating profit in the fourth quarter. Year-end debt for fiscal 2006 declined by $6.1 million to $113.4 million from $119.5 million at the end of 2005. Excluding the $12.4 million paid for the Sweater.com acquisition and $7.9 million used for share repurchases, pro-forma debt reduction of $26.4 million exceeded our previously stated goal of a 20% debt reduction exclusive of acquisitions and share repurchases."
"We have just concluded the acquisition of the "Zooey" brand and business from a privately held company, and the continued employment of Alice Heller, Zooey's creative force, as its president. While Zooey's sales volume is small currently, the brand, based in Los Angeles, is highly regarded for its fine knits sold to key upscale women's specialty stores that include Anthropologie and Barneys among its key customers.
"This month we have completed a long-term licensing, marketing and services agreement with the Youngor Group Ltd, the largest public apparel company listed on the Shanghai stock exchange and the largest manufacturer and retailer of men'ssuits in mainland China. This twenty-year agreement requires Youngor to open approximately 400 Hart Schaffner Marx retail locations in China and covers all men's apparel, accessories, footwear, eyewear, fragrances and watches under the Hart Schaffner Marx brand." Mr. Patel concluded.
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.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "UBM China (Shanghai)")
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
