• Q2 net profit US$4.3m versus $8.2m
  • Net sales $49.7m versus $55.6m
  • Fiscal 2011 “challenging” – CEO

Fashion and functional accessory marketer RG Barry Corporation registered dips in second quarter profit and sales in what the company called a “challenging” year.

“We have addressed and corrected unexpected issues in our sourcing operations that primarily led to the margin contraction, and we expect our fiscal 2012 to return to a more traditional pattern of performance,” said Greg Tunney, president and CEO.

"We are working to improve the profitability of our core business, pursue additional acquisitions and develop diversification strategies, all with an eye toward continuing our pattern of healthy business growth and increasing shareholder value.

“We have previously reported that we will exit two underperforming initiatives during the second half of this year.”