This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Joe's Jeans CEO Discusses Q4 2010 Results - Earnings Call Transcript

Stocks in this article: JOEZ

I also refer you to our reports that are filed with the SEC which includes our 2010 annual report on Form 10-K filed today. This report includes information that could also cause our actual results to be materially different from those contained in any projections which may be made during this conference call. By making any forward-looking statements, the company undertakes no obligation to update them for revisions or changes after today.

Finally, a copy of our earnings release and a recording of this call will be available on our website www.joesjeans.com and a telephone replay will be available for one week from today.

Now I’ll turn the call over to Marc.

Marc Crossman

Thanks, Lori and thanks to everyone for joining us today. I’ll speak about the fourth quarter results, and then I’ll turn the call over to Hamish for a discussion of our financials. Finally, we will end with a Q&A session.

In the fourth quarter, our net sales declined 7% from $25.2 million to $23.6 million. The sales decline was entirely attributable to our women’s wholesale business. The domestic women’s wholesale business, which is our largest and mature segment decreased double digits on a year-over-year basis. During the quarter, our consumer looked to new fabrics as a new catalyst for her next purchase. We did not capitalize on this trend with the right offering of cords, pontes, and super-stretch fabrics. We didn’t have enough newness in innovation of products to drive to the level sales we had last year, especially given that we were facing tough comps against last year’s successful Jean legging.

That said, we have made mid-stride adjustments to our Spring and Summer lines and we are introducing revamped fall 2011 line next at (inaudible). For example, we are launching new high rise bodies and skinny flare and wide-leg silhouettes. We are also introducing a number of newly developed fabrics into our fall line. We are injecting these innovative fabrics and fits into our fashion and replenishment style. Separately, we are excited about our new skinny micro-flare body that we will begin shipping at the end of this month. We plan to utilize print advertising and in-store marketing to support our new products initiatives going forward such as the skinny micro-flare.

2 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs