US: RG Barry books mixed Q2 results
RG Barry Brands has booked an increase in second-quarter earnings but reaffirmed its outlook for lower full-year sales on the back of economic headwinds.
In the three months ended 28 December, the US footwear and accessories manufacturer recorded earnings of US$6.1m compared to $5.3m a year earlier.
CEO Greg Tunney said investing significant resources in its brands helped boost profits but added that the company continues to operate in a challenging retail environment.
As a result, net sales dropped to $48m from $48.5m in the comparable period last year.
CFO Jose Ibarra said the group continues to experience economic headwinds. "While the company is financially strong and well-positioned to meet its long-term goals, these factors have led us to reaffirm our view that consolidated revenue this year will be down slightly compared with fiscal 2013."
Private equity firm Mill Road Capital is to acquire all of the outstanding shares of slipper and accessories marker RG Barry Corporation that it doesn't already own, in a deal worth around $215m....
This report analyzes the worldwide markets for Footwear in US$ Million and Million Pairs by the following Product Categories/Segments: Athletic Footwear (Aerobic, Baseball, Basketball, Cricket, Cross-...
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