USA: Haggar Posts Q3 Income, Sales Increases
Men's and ladies' wear marketer Haggar Corp has reported third-quarter sales and income increases as it continues efforts to boost the quality and cost of its goods.
For the third quarter of 2005, Haggar reported net sales of $119.5 million compared to net sales of $116.3m in the same period last year. Net income for the period totalled $4.8m compared to $1.7m a year ago.
Haggar said that the 2.7 per cent net sales rise was mainly related to an increase in the men's wholesale business, and an increase in retail sales due to strong same-store sales and the addition of new stores.
Frank Bracken, president and chief operating officer, said: "We have successfully completed the closure of our two company-operated manufacturing facilities in Mexico and the Dominican Republic during the quarter.
"This will allow us to continue to focus on reducing our costs in both the Eastern and Western Hemispheres."
Haggar Clothing Co, a wholly owned subsidiary of Haggar Corp, is a leading marketer of men's casual and dress apparel and women's sportswear, in the US, Canada, Mexico, and the UK.
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