R.G. Barry Corporation Issues Fourth Quarter Caution
16 12월 2003 - 7:00AM
PR Newswire (US)
R.G. Barry Corporation Issues Fourth Quarter Caution PICKERINGTON,
Ohio, Dec. 15 /PRNewswire-FirstCall/ -- R.G. Barry Corporation
today reported that its sales following Thanksgiving were below
expectations, reflecting the generally mixed retail sales
environment. "Given the strength of the retail economy in August,
September and October, we had expected a strong holiday selling
season which has not materialized to date," said R.G. Barry
Chairman of the Board and Chief Executive Officer Gordon Zacks.
"Our sales at retail during the past several weeks reflect the
mixed retail sales reported by our key customers. Although some of
our key customers are enjoying strong holiday sales, others have
posted lower than expected numbers. The overall impact has been
higher order cancellations and fewer reorders than planned. "As a
result of these order cancellations and fewer reorders, we have
become cautious in our outlook for the fourth quarter. We earlier
reported that a continuation in November and December of the strong
retail trends our customers enjoyed in August, September and
October would position R.G. Barry to return to modest profitability
in its continuing operations this year. Although the key selling
weeks for the Christmas season are ahead of us, if the current
sales trends do not improve and if December retail sales are not
very, very strong, we do not believe we can report a profit from
continuing operations this year. "Our plan is to release our
results for the 2003 fiscal year in early March 2004. We do not
intend to issue additional interim releases updating our 2003 sales
and other financial results until March when we will report results
for the fourth quarter and full year," Mr. Zacks concluded. "Safe
Harbor" Statement under the Private Securities Litigation Reform
Act of 1995: The statements in this release, other than statements
of historical fact, are forward-looking statements as that term is
defined in the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are based upon our current plans
and strategies, and reflect our current assessment of the risks and
uncertainties related to our business. In addition to the risks and
uncertainties noted in this news release, there are factors that
could cause results to differ materially from those anticipated by
some of our forward-looking statements. These factors include
product demand and market acceptance; the economic and business
environment and the impact of governmental regulations, both in the
United States and abroad; the effects of direct sourcing by
customers of competitive products from alternative suppliers; the
loss of significant customers in connection with mergers,
acquisitions, bankruptcies or other circumstances; economic,
regulatory and cultural difficulties or delays in our business
outside the United States; our ability to improve processes and
business practices to keep pace with the economic, competitive and
technological environments; the availability and costs of
financing; capacity, efficiency and supply constraints; weather;
the effects of terrorist acts; acts of war; and other risks
detailed in the our press releases, shareholder communications and
Securities and Exchange Commission filings. DATASOURCE: R.G. Barry
Corporation CONTACT: Daniel D. Viren, Senior Vice
President-Finance, or Roy Youst, Director Corporate Communications,
both of R.G. Barry Corporation, +1-614-864-6400
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