US: Tag-It swings to Q3 profit, expands Tekfit market
Trim supplier Tag-It Pacific has announced a return to profit in this year's third quarter, marking a move forward in its ongoing improvement drive. The company also said its Tekfit Technology is now available worldwide to US brands and retailers.
For the three months ended 30 September, net income totalled US$339,000 compared to a loss of $10.29m.
"The net income for the third quarter of 2006 represents another significant step in the continuation in our turn-around efforts," said Stephen Forte, the company's CEO.
"These results are very encouraging and evidence the new direction and momentum of the company. Our business is now beginning to reflect the success of our restructuring plan implemented late in 2005, and we believe our sales growth is evidencing the success of our global growth strategy."
The company also said the exclusive supply contract for its patented Tekfit stretch waistband product has expired, allowing it to sell its waistband products to multiple brands and retailers.
"Over the longer term, this should expand the market for our waistband products considerably. Nonetheless, purchase commitments from the expired contract are expected to decline significantly through the next two quarters, and it is unlikely that shipments of our waistband products to new customers will fully offset the decline in sales to our prior exclusive customer in the near term."
Tekfit adds mechanical stretch and recovery to collars and waistbands of non-stretch fabrics for up to two sizes.
The company cites US government data saying an average person's weight fluctuates an average of two to five pounds during a typical year.
It added: "Unlike other stretch waistbands on the market, which incorporate elastic or are cut on the bias, Tekfit adds stretch to the entire waistband, which is cut on the straight, eliminating the need to add bulky elastic or require the use of additional stretch fabric."
CEP Stephen Forte said: "Tekfit technology answers this overlooked consumer need - attractive, expandable and comfortable clothing that doesn't bind, pucker or add unsightly synch."
Help test our new apparel sourcing tool.
A new automated, high-speed pattern digitising system from Gerber Technology could mark the end of manual digitising, the company claims....
Everlast Worldwide Inc on Thursday (26 April) reported lower profits because of special year-ago items and increased its projections for the current year....
Labelling, tag and ticket supplier Avery Dennison has been given anti-trust clearance from the Federal Trade Commission to buy Paxar Corp for $1.34bn, a deal that was announced at the end of last mont...
Labelling, tag and ticket supplier Avery Dennison is to buy its rival Paxar Corporation for $1.34bn, in a move designed to shore up its position in the expanding global retail information and brand id...
Tag-It Pacific, which distributes a range of apparel zippers and trim items, has today (27 March) announced the opening of an office in Bangalore, India, for its Talon zipper brand....
Tag-It Pacific has bought NextTrim.com, an online library of global trim designs and trends, in a move to centralise its trim images for the apparel industry....
Apparel zipper and trim manufacturer Tag-It Pacific has opened a second Chinese-based office for its Talon zipper brand....
Packaged foods to fashion conglomerate ITC Limited has become what is thought to be the first Indian apparel company to adopt enterprise Product Lifecycle Management (PLM) software....
- Unlocks for the future fashion sourcing landscape
- EU eyes mandatory due diligence for apparel supply
- Digitalisation and data to disrupt supply chains
- What TTIP might mean for US, EU textiles & apparel
- Where next for Corporate Human Rights Benchmark?
- Li & Fung forms supply chain partnership with PVH
- US Q4 in brief – Finish Line, Oxford Industries
- Sears has "substantial doubt" of future
- Adidas mulls roll-out of in-store customisation
- Brands urged to empower women in sub-Sahara Africa
- Central and East Europe Report Package
- Central America strategic sourcing review - a focus on Guatemala, El Salvador and Honduras
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Outdoor performance apparel 2016: A broader perspective