Home / Knowledge / News / Fashion / Tandy Brands announces 4 cents per share dividend

Tandy Brands announces 4 cents per share dividend

May '08
Tandy Brands Accessories Inc announced financial results for the third fiscal quarter ended March 31, 2008 and the board of directors approval of a $0.04 per common share quarterly dividend payable July 18, 2008 to stockholders of record at the close of business on June 30, 2008.

For the third quarter of fiscal 2008, net sales were $30.1 million compared to $37.9 million in the third quarter of fiscal 2007. The decline was due primarily to a retail environment which continues to be challenging. The Company reported a net loss for the quarter of $2.2 million, or $0.32 per diluted share.

The loss was primarily attributable to not realizing economies of scale and leverage with the sales decline. For the third quarter of fiscal 2007, the Company had a net loss of $1.4 million, or $0.21 per diluted share.

During the quarter, the Company continued to implement changes to its operations as part of its strategic review process aimed at offsetting the impact of the challenging retail environment and general economic conditions. The Company's cost reduction strategies were successful in reducing selling, general and administrative costs for the quarter by $2.6 million compared to the same period last year.

The Company also noted that sales of inventory written down in the second quarter at prices greater than had been estimated to be realizable resulted in improved gross margins for each of its businesses in the third quarter. The Company has closed its West Bend, Wisconsin distribution facility and listed the property for sale.

Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 26th Nov 2020

Bangladesh wants duty-free entry of 42 products into Nepal

Bangladesh has sought duty-free entry of 42 products, including...

Pic: Shutterstock

Textiles | On 26th Nov 2020

Curbs on exports to China may cripple Oz wool industry

The Australian wool industry may witness a crippling effect of...

Pic: Shutterstock

Retail | On 26th Nov 2020

BRC hails UK govt decision to open all retail after Dec 2

In response to Prime Minister Boris Johnson's announcement that all...

Interviews View All

Hannah Lane, Redress

Hannah Lane

Encouragement from brands will motivate supply chains to become more...

Textile Industry, Head honchos

Textile Industry
Head honchos

Fashion tech has to be lean and very productive

Smarth Bansal, Colorjet India Limited

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Saad Khaled Bari,

Saad Khaled Bari

Benetex Industries is a public ltd company established in year 1992 to...

Aaron Spivak,

Aaron Spivak

Canada-based Hush Blankets was founded by Lior Ohayon and Aaron Spivak to...

Nuria Estape,

Nuria Estape

Archroma is a global colour and specialty chemicals company headquartered...

Paolo Ocleppo, Sandvik Hyperion

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Jacques Prigneaux, EDANA

Jacques Prigneaux

EDANA has been the leading global association and voice of the nonwovens...

Dr. Rene Wollert, Freudenberg Nonwovens

Dr. Rene Wollert
Freudenberg Nonwovens

Dr. Rene Wollert discusses the current scenario of the global nonwovens...

Anisha Chaudhari, Threads & Shirts

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Rupa Sood and Sharan Apparao, Nayaab

Rupa Sood and Sharan Apparao

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Tony Ward, Tony Ward

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

November 2020

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

Advanced Search