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Hartmarx reaffirms 2007 full-year sales & earnings guidance
31 Mar '07
2 min read
"First quarter operating results this period were further impacted adversely by retailer chargebacks and allowances and disposition of certain inventories from discontinued product lines, as well as from the residual effects of the actions initiated last year to reduce our investment in the moderate priced tailored clothing lines marketed principally to the mainstream department store channel."
"This included the unfavorable manufacturing overhead absorption emanating from reduced production schedules related to the final winddown of a coat sewing facility closed during the first quarter. Moderate priced brands marketed principally to the mainstream department store channel represented approximately 13% of first quarter sales this year compared to 18% last year."
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"This included the unfavorable manufacturing overhead absorption emanating from reduced production schedules related to the final winddown of a coat sewing facility closed during the first quarter. Moderate priced brands marketed principally to the mainstream department store channel represented approximately 13% of first quarter sales this year compared to 18% last year."
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Hartmarx Corporation
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