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.


Must ReadView All

Pic: Shutterstock

E-commerce | On 30th Nov 2020

France to impose 'digital tax' in 2020

France has decided to impose a new digital tax on big online...

Pic: University of York

Textiles | On 30th Nov 2020

UK scientists working to reduce textile industry waste

Scientists at the University of York and the Royal College of Art are ...

Pic: Material Exchange

Textiles | On 30th Nov 2020

Material Exchange raises €5 million for sustainability

Material Exchange has announced the closing of a €5 million funding...

Interviews View All

Krishnanand Tripathi, Textrade International Ltd

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Textile Industry, Head honchos

Textile Industry
Head honchos

Increased need for online fitting solutions as retailers shift to...

Textile Industry, Head honchos

Textile Industry
Head honchos

Trade buzz: This could be a landmark budget

Mirella Sardini,

Mirella Sardini

A leading manufacturer of automated machinery and equipment for the...

Mario Ploner,

Mario Ploner

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

Nina Smith,

Nina Smith

GoodWeave International, a nonprofit working to end child, forced and...

Pierre Wiertz, EDANA

Pierre Wiertz
EDANA

EDANA, the international association serving the nonwovens and related...

Kerem Durdag, Biovation II LLC

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Lynda Kelly, Suominen Corporation

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Karan Arora, Karan Arora

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Prathyusha Garimella, Prathyusha Garimella

Prathyusha Garimella
Prathyusha Garimella

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

Robert Brunner, Devereux

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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 2020

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


Advanced Search