This Day On The Street
Continue to site
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

Tandy Brands Reports Fiscal 2013 Fourth Quarter And Year-End Earnings Results

  • Provides update on current events
  • Announces signing new licensing agreement with Sean John®
  • Announces fourth quarter and full year fiscal 2013 results
  • Fiscal 2013 net sales of $114 million

DALLAS, Sept. 27, 2013 (GLOBE NEWSWIRE) -- Tandy Brands Accessories, Inc. (Nasdaq:TBAC) today provided an update on current events and reported financial results for its fourth quarter and fiscal year ended June 30, 2013.

Update on Current Events

The Company announced a new licensing agreement with Christian Casey, LLC to design, develop and distribute belts, small leather goods and gift items under the Sean John® label. The agreement includes U.S. and Canadian territories and expires on December 31, 2016. The Company also announced it has reached an agreement to extend its license with Haggar® to sell belts and small leather goods in the U.S. and Canada through December 31, 2016.

"We are excited to go to market with Sean John® in our license portfolio and that we've successfully extended Haggar® another three years," said Rob McCarten, EVP and President - Tandy Brands. "We expect to deliver Sean John® products to retailers in summer 2014. Our current Haggar® line is performing well at retail with opportunities for volume growth at department stores."

"I am appreciative of, and pleased with, the strength of our team's relationships with licensors and retailers," said Roger Hemminghaus, Chief Executive Officer and Chairman of Tandy Brands. "In addition to these licensing wins, we're working on several opportunities to grow our business in key accounts during fiscal 2014 with our licensed portfolio and in private label programs."

Fourth Quarter Results

Net sales for the fiscal 2013 fourth quarter were $20.6 million, a 4 percent decrease over net sales of $21.6 million in the same period last year. The sales decline was primarily attributable to lower sales prices on exited products and the timing of replenishment orders to a significant customer. 

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,058.35 -469.68 -2.84%
S&P 500 1,913.85 -58.33 -2.96%
NASDAQ 4,636.1050 -140.4030 -2.94%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs