Home / Knowledge / News / Apparel/Garments / Private label business sales boost Tarrant annual income

Private label business sales boost Tarrant annual income

27
Mar '08
Tarrant Apparel Group, a design and sourcing company for private label and private brand casual apparel, announced financial results for the three months and year ended December 31, 2007.

Results for the Quarter Ended December 31, 2007:
The Company reported net sales of $57.3 million in the fourth quarter of 2007, a slight decrease compared to $57.4 million in the same period in 2006. Private Brands sales were $12.8 million in the 2007 quarter, a 6.2% increase compared to $12.0 million in the fourth quarter of 2006, with the increase primarily attributable to an $1.1 million increase in sales of our American Rag CIE brand. Private Label sales decreased 1.9% in the 2007 fourth quarter to $44.5 million, as compared to $45.4 million reported in the same period last year.

Gross profit for the fourth quarter of 2007 was $11.1 million, a 19.1% decrease compared to $13.7 million in the fourth quarter of 2007. As a percentage of net sales, gross profit declined from 23.8% in the fourth quarter of 2006 to 19.3% in the fourth quarter of 2007.

The decrease in gross profit in 2007 was due primarily to lower sub-license income and a general decrease in gross margins Selling, general, and administrative expenses for the fourth quarter of 2007 were $9.7 million compared to $9.7 million in the 2006 fourth quarter. As a percentage of net sales, selling, general and administrative expenses decreased to 16.8% versus 16.9% for the same period of the prior year.

Loss from operations was $61,000 in the fourth quarter of 2007 compared to income from operations of $3.3 million in the fourth quarter of 2006. This loss was caused by the lower gross profit and $0.8 million adjustment to the fair value of a long-term receivable-related party.


Interviews View All

Top executives, Association

Top executives
Association

'Support and Outreach' huge relief for MSMEs

Stefan Warnaar, Peak to Plateau

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

Top executives, Textile industry

Top executives
Textile industry

The new deal is better than NAFTA for the US textile industry

Erwin Devloo,

Erwin Devloo

Picanol develops, produces and markets high-tech weaving machines, based...

Mario Ploner,

Mario Ploner

<div>Italian company Tecnomeccanica Biellese specialises in planning and...

Carolin Russ,

Carolin Russ

Weko, Weitmann &amp; Konrad GmbH &amp; Co KG, based in south Germany, is...

Urs Stalder, Sanitized AG

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Davide Vigano, Sensoria

Davide Vigano
Sensoria

Sensoria is a leading developer of smart garments and IoMe (Internet of...

Michaela Griggs & Peggy Schulz, Barco Uniforms

Michaela Griggs & Peggy Schulz
Barco Uniforms

Founded in 1929, Barco Uniforms started as an apparel company for beauty...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Anjali Bhaskar has an experience of 12 years in the fashion industry. She...

Aneeth Arora, Péro

Aneeth Arora
Péro

The Woolmark Company has partnered with handmade fashion label Péro and...

Prathyusha Garimella, Prathyusha Garimella

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

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


November 2019

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

news category


Related Categories:

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search