USA: Saucony Sales Slip, Posts Loss
Saucony Inc, the athletic footwear and apparel manufacturer reported a drop in net sales for the fourth quarter ended 4 January of $21.6 million, compared to $31.7 million in the fourth quarter of 2000. Part of the shortfall was blamed on non-recurring charges of $2.1 million related to the closing of its Bangor, Maine manufacturing facility, the early termination and exit of a retail store lease, the closure of its Taiwan office and other reorganisation related expenses.
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