USA: J.C. Penney Increases Orders For FTS Apparel’s Designer Sportswear
Full Tilt Sports, Inc, dba FTS Apparel (OTCBB: FTSX), today announced that J.C. Penney Company, Inc (NYSE: JCP) has increased the amount of stores that will carry the "Flip the Switch" brand of designer sports apparel for the fall season to over 125 stores. The company announced in May that "Flip the Switch" would be carried by 14 J.C. Penney stores for the spring/summer season, up from a total of 3 stores last fall. The total value of the contract is expected to surpass $1 million for fiscal 2000 with more increases possible later this year. During fiscal 1999 the company reported total annual revenues of $289,180. The increase in the number of J.C. Penney stores that will now carry the "Flip the Switch" product line is a major step forward for the company. The label will now have a national presence with product available at J.C. Penney stores across the country. FTS Apparel has now moved out of the development stage with a strong revenue stream building, a line of credit in place and a strong cash position. The company is now well positioned to meet or exceed its sales objectives for fiscal 2000. Company president, Mr Roger Burnett, had this to say of the contract increase: "As the spectrum of young men's apparel tastes are evolving, we believe we are at the forefront of a resurgence among youths for cleaner, classier styles and an identity which speaks to them directly. Based upon our prior successful sell-through and marketing efforts, J.C. Penney has bought into our philosophy, and we commend them for having the foresight to carry an up-and-coming brand instead of relying on those brands that have worn out their welcome with the consumer."