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クロムハーツ バッグ Barry's CEO Discusses F3Q13 Results
Barry's CEO Discusses F3Q13 Results Barry Corporation's Third Quarter 2013 operating results conference call and webcast. All participants will be in listenonly mode. (Operator クロムハーツ バッグ Instructions). Please note this event is being recorded. Barry. Please go ahead. Thank you, and good morning. You also can contact us at 6147297200 to receive a release or be added to our distribution list. An audio replay of this call will be available shortly after its completion and a written transcript will be posted on our website later this week. Barry Corporation President and Chief Executive Officer, Greg Tunney; Senior Vice President Finance and Chief Financial Officer, Jose Ibarra, and Corporate Controller, Gary Sandefur. Please note that statements contained in this call which are not historical facts should be considered forwardlooking statements as defined by the Private Securities Litigation Reform Act of 1995. Forwardlooking statements are subject to all safe harbor qualifications set forth in our news releases, investor communications and SEC filings. Actual events affecting the company and the impact of those events upon our operations may differ materially from what is currently anticipated. For a list of some potential risk factors, please refer to our news release or most recent Form 10K. And now let's turn the call over to Jose. Thank you, Roy, and good morning, everyone. Our third quarter produced the best earnings results for a March ending quarter in the company's history. Based upon our performance todate and our fullyear visibility, we remain confident that we will end fiscal 2013 with a very solid profitable performance. We currently expect fullyear consolidated net sales to be in the range of approximately $10 million to $12 million below last year's リモワ サルサ record of $156 million. As we have been telling you for nearly a year, the shortfall reflects in part the elimination of some lower margin footwear business exited at the end of fiscal 2012, the loss of our JC Penney's men's footwear program and reduction of the size of two seasonal footwear programs in the club channel. On the plus side, the Accessories segment revenue is expected to grow in fiscal 2013 at or above its planned midteen rate, offsetting some of the lost revenue in the footwear business. We expect consolidated gross profit as a percentage of net sales for the full year to run in the mid 40s and our consolidated operating margins to remain relatively consistent in the low to midteens. Turning to the results reported today, consolidated quarterly net sales ヴィヴィアン 店舗 rose ヴィヴィアン ウエストウッド nearly 3% to $26 million versus the prior year and net earnings were up 85% to $1.5 million, or $0.13 per diluted share, from approximately $800,000, or $0.07 per diluted share, one year ago. Our third quarter consolidated gross profit as a percentage of net sales was 45.9%, up 130 basis points from one year ago and quarterly SG expenses were $9.6 million, down about 3% versus last year. Ninemonth consolidated net sales in footwear was $122 million, compared to $131 million a year ago and ninemonth net earnings declined 8% to $13 million, or $1.13 per diluted share. Consolidated gross profit as クロムハーツ 店舗 a percentage of net sales for the nine months was 43.9%, up 80 basis points from the equivalent period last year. Nine month SG expenses declined 2% to $32.5 million, reflecting lower accruals for the annual incentive plan ヴィヴィアン 財布 メンズ and lower expenses in a broad range of categories. This marks the seventh consecutive Marchending quarter in which we have reported breakeven or better results. This change is directly related to the success of our efforts to diversify our business and even out its heavy seasonality. Expansion in our quarterly consolidated gross profit, expressed as both dollars and as a percentage of net sales, reflects the contribution of our higher margin Accessories segment and the elimination of lower margin components of the footwear business. Looking to the segments, Accessories quarterly net sales increased 激安トゥミ 17% to $9.4 million over last year's comparable quarter, resulting in an operating profit of about $2 million. For the nine months, Accessories produced $27.4 million in net sales, up 15% and an operating profit of $5.5 million, up 13% over last year. Quarterly footwear net sales declined by 4% to $16.4 million, producing an operating profit of オロビアンコ 人気 $2.5 million, which was up by about 5% over one year ago. Nine month net footwear sales were $94 million, a decrease of about 12% versus last year, yielding a ninemonth operating profit of about $23 million, which is 14% less than the comparable ninemonth period of fiscal 2012. The yeartodate decrease is primarily the result of the previously mentioned issues. Some additional financial highlights on a consolidated basis include: Cash, cash equivalents and shortterm investments were nearly $45 million, up from $40 million in a comparable period last year. Net inventories were $17 million, up fractionally compared to one year ago. Net shareholders' equity increased by nearly by $10 million to $85.5 million at the end of the third quarter. Depreciation ヴィヴィアン メンズ and amortization through nine months was $2.1 million and we expect it to be approximately $2.8 million for the full year. Ninemonth cash from operating activities totaled $11 million, primarily reflecting the yeartodate profitability, timing related to inventories and accounts receivable, and our lower level of accrued expenses. Accrued expenses of about $7 million for the nine months mostly reflected incentives and estimated taxes based upon our expected fiscal 2013 performance and $1.2 million related to the acquisition of the Mosey brand. And finally, we expect our blended tax rate for this year to be approximately 39%. And now, Greg has some additional comments. Thank you, Jose, and good morning. With fiscal 2013 nearly complete, I'd like to spend the next few minutes talking about some of the initiatives that are going to impact our company going forward. Barry brand over the past few years is wellillustrated when viewed in the context of their positive impact on fiscal 2013. The new, more profitable business units brought some much needed balance and product offerings and seasonality. The addition of bestinclass business systems and processes added more efficiency and more reliability to our model. As a result, we will end our year among the industry's top performers in productivity, profitability and return on invested capital this year, despite dealing with a very difficult year in our footwear segment. Since our last conference call in February, we have completed the integration of our former http://www.nftc.org/map/ks.html sourcing agent's Chinabased operations into baggallini's business unit. Barry sourcing team. It reduces duplication and cost across our handbag platform, while positioning us for continuing growth in this segment of our business. Barry. In conjunction with the sourcing transaction, we bought Mosey consumer fashion handbag brand for approximately $1.2 million in cash. Mosey is a small, relatively new handbag and accessory line that is principally sold through department stores such as WalMart and Dillard's, and in some select international markets. It is sourced from the same factories that produce baggallini and it carries an average price that is well above $100 at retail. Barry portfolio. For us to become a $200 million to $250 million company within the next three to five years, we must continue to invest in and diversify our business. Our growth strategy is simple; first, invest in and grow existing brands both domestically and internationally; next, leverage our portfolio through branding and channel diversification; and third, サマンサタバサ バッグ seek out and acquire authentic brands that can multiply our rate of profitability and sustainable growth. In our footwear segment, Dearfoam remains the number one slipper brand in the marketplace and DF by Dearfoams is the top performing footwear brand in all of WalMart US. Despite these strengths, we are experiencing some real, shortterm revenue pain in footwear this year. That is in part the result of our decision to eliminate certain nonperforming footwear assets and refocus our components of the business for a longterm profitable growth. These changes are definitely the right thing to do, but they also carry a cost. With this completion, we can now look forward to growing Dearfoams into a global lifestyle brand synonymous with comfort, not only in accessory footwear but in areas such as sleepwear where we have had recent success. Beginning with fiscal 2014, we are introducing a new footwear segmentation strategy that addresses product and pricing issues we face as a result of Dearfoams' broad penetration at retail. Shoppers will find Dearfoams with unique designs at distinct price points whether they shop in uppertier stores, ecommerce, retailers, national chains or mass merchants. All Dearfoams, good, better or best, will deliver the quality and comfort that is the brand's hallmark. Differentiation will be found in design elements, the use of technology and quality of materials used. baggallini and Foot Petal will comprise our Accessories segment and hold significant promise for the future. Next year, baggallini will continue its work on broadening markets and product offerings with a longterm goal of growing to the size of our footwear business. They will also continue the integration of the recently acquired handbag sourcing organization and the KIVA and Mosey brands. Over Foot Petals, we continue focusing on growth in the core admj 芸能人 business, brand extensions and the development of new products and channels. We are working to ensure that Foot Petals' products becomes even more synonymous with stylish, superior foot cushions and foot solutions. Acquisitions remain one of our primary pillars, upon which we will build the future of our business. Our goal is to complete one to two meaningful acquisitions each year for the next three to five years. Currently, we are seeing a good deal flow at the $20 million to $50 million range, which we consider meaningful. 相关的主题文章:  20-4-58321    激安トゥミ Get Evan Rachel Wood ADMJ クロコ 20-4-31580 