Canada: Hart Stores Inc Q1 sales up 15%

Hart Stores Inc, an operator of mid-sized department stores, has reported sales of $28.7 million for the first quarter ended April 29th 2006, an increase $3.8 million or 15.1 percent over sales of $24.9 million in the same period last year.

The net earnings for the first quarter of fiscal 2007 were $13,000 or $0.00 per share compared to net earnings of $123,000 or $0.01 per share in the corresponding quarter in the prior year. It were affected by pre-opening expenses incurred in the opening of new stores and expenses related in the preparation of the new head office and distribution facility which was occupied during the second quarter in May.

The company opened two new stores during the quarter both in Ontario in the towns of Arnprior and Parry Sound and re-opened its store in Sudbury Ontario that had been closed due to smoke damage.

"We are pleased with the sales increase in the first quarter this year with a same store sales increase of 4.6 percent and are encouraged by the positive performance of our new stores in Ontario," said Michael Hart President and CEO of Hart Stores, "We are continuing with our planned expansion in that market with the scheduled opening of three additional locations in the fall season, situated in Hamilton, Port Colborne and Kapuskasing."

Harry Hart, Executive Chairman of Hart Stores announced, "For the fourth consecutive year, the Board of Directors is pleased to declare a dividend. This year's dividend of $0.10 per share represents a 25 percent increase over last years dividend and will be payable on July 12th 2006 to shareholders of record on June 22nd 2006."

Subsequent to the quarter end the company finalized a mortgage financing of $8 million secured by its new 220,000 square foot facility housing the new head office and distribution centre which is now fully operational. The new facility will provide the company with the infrastructure crucial to continue with its strategic expansion plans.

Hart Stores Inc operates a network of 73 mid-sized department stores under the Hart, Bargain Giant and Géant des Aubaines banners. The stores are located in secondary and tertiary markets throughout Eastern Canada where the company has established a dominant position in many of the communities that it serves.

The stores offer an extensive and differentiated selection of national and exclusive fashion apparel brands as well as family footwear, home furnishings, giftware, toys and seasonal goods.



Hart Stores Inc

United States: Timberland Company launches new footwear line

Footwear maker Timberland Company has announced the introduction of a new line of advanced footwear for trail running enthusiasts under the GoLite brand.

The GoLite footwear line is inspired by the extreme challenges of sky runners and their need for ultra-light, technically advanced footwear. Gaining in popularity among mountain athletes worldwide, skyrunning is a cross-pollination of ultra-running, trail running and adventure racing at high altitudes.

Designed and developed by a specialized team within the award-winning Timberland Invention Factory, the new GoLite footwear line combines three key ingredients: the Invention Factory's focus on innovation and problem-solving, GoLite's cutting edge lightweight design ethic and long-standing commitment to the trail running category, and The Timberland company's strong footwear development capabilities.

The result is a groundbreaking new footwear formula that challenges the way outdoor athletes and the industry think about trail running shoes.

The GoLite footwear line will be unveiled at this summer's Outdoor Retailer show. The market launch is slated for spring 2007, with distribution targeted at specialty outdoor and running shops.

In connection with this, Timberland has acquired certain assets of GoLite LLC, including trademarks, for an undisclosed amount. The launch of GoLite footwear will enable the GoLite brand to serve outdoor enthusiasts from head to toe.

GoLite footwear will be managed out of Timberland's Stratham, New Hampshire headquarters and GoLite apparel, equipment, and accessories will continue to be led by GoLite founders Demetri and Kim Coupounas, operating as an independent company out of their headquarters in Boulder, Colorado.

"GoLite and Timberland are authentic outdoor brands grounded in functional and purposeful innovation," said Jeffrey Swartz, Timberland's President and CEO. "GoLite's core essence is ultra-lightweight apparel and gear that delivers the highest level of performance. They've raised the bar in the outdoor market, and we look forward to building upon this ideal in the performance trail running footwear category."

GoLite co-founder and CEO Kim Coupounas said, "Our companies share many values, including our dedication to excellence, innovation, and being good corporate citizens. We are honored to be working with a company that is a global leader in premium quality footwear and corporate social and environmental responsibility."

The GoLite footwear business will be spearheaded by industry veteran Bill Dodge, who recently joined Timberland as Senior Director, GoLite Footwear. Dodge has deep experience in leadership positions for product, brand, and new business launches with Salomon and New Balance over the last 16 years.

Reporting to Gary Smith, Senior VP and GM of Timberland's portfolio of outdoor brands, Dodge will be responsible for all aspects of the launch and sustained growth and evolution of the GoLite footwear franchise.

With this launch, the portfolio of outdoor brands being managed by Timberland now includes Timberland Outdoor Performance, GoLite footwear, Mion and SmartWool.

Timberland is a global leader in the design, engineering and marketing of premium-quality footwear, apparel and accessories for consumers who value the outdoors and their time in it. Its products are sold worldwide through wholesale channels as well as Timberland retail stores.

GoLite, based in Boulder, Colorado, sparked a lightweight revolution in 1999 when it introduced a full range of ultra-lite equipment and clothing for backpacking and other outdoor adventures that rocked the outdoor sports world. Today it sponsors professional athletes in trail running, adventuring racing, fast-packing, and thru-hiking and regularly shares ‘fast + lite’ techniques in outreach seminars around the world.



Timberland Company

United States: Quaker Fabric Reports alteration to its five year, senior secured credit facility

QUAKER FABRIC CORPORATION announced an amendment to its five year, senior secured credit facility.

"We have reached agreement with our lenders on certain changes to our loan documents. These changes, including certain changes in the financial covenants in the documents, are intended to continue to provide the company with access to the capital resources needed to support its business operations and ongoing restructuring and repositioning initiatives," commented Larry A. Liebenow, Quaker's President and CEO.

Quaker also announced the retention of Alvarez & Marsal Securities, LLC (A&M), a part of Alvarez & Marsal, LLC, a New York-based global professional services firm, to advise the company in connection with a proposed refinancing, the proceeds of which would be used to provide the company with additional working capital and to repay all or a portion of the company's existing indebtedness under its senior secured credit facility.

"We remain grateful for the ongoing support of our workforce, our suppliers and our customers, as we continue to pursue our business development objectives," Mr. Liebenow added.

Quaker officials noted that the company would be making a Form 8-K filing with the U.S. Securities and Exchange Commission later this week with respect to this most recent amendment to its loan documents and its retention of A&M.

Quaker Fabric Corporation is a leading manufacturer of woven upholstery fabrics for furniture markets in the United States and abroad, and the largest producer of Jacquard upholstery fabric in the world.

SOURCE: QUAKER FABRIC CORPORATION

United States : Zumiez Inc comparable store sales progress 18.2% for four-week period

Zumiez Inc a leading specialty retailer of action sports related apparel, footwear, equipment and accessories, announced that total net sales for the four-week period ended May 27, 2006 increased 39.5 percent to $15.0 million, compared to $10.7 million for the four-week period ended May 28, 2005.

The company's comparable store sales increased 18.2 percent for the four-week period, versus a comparable store sales increase of 10.2 percent in the year ago period.

To hear the Zumiez prerecorded May sales message, please dial (877) 519-4471 or (973) 341-3080, followed by the conference identification number #6130350.

Zumiez is a leading specialty retailer of action sports related apparel, footwear, equipment and accessories. Our stores cater to young men and women between ages 12-24, focusing on skateboarding, surfing, snowboarding, motocross and BMX. We currently operate 182 stores, which are primarily located in shopping malls and our web site address is www.zumiez.com.

Courtesy : Zumiez Inc

Pratt Fashion Show a preview of industry’s creative designers

Pratt Institute will introduce a year’s worth of creative work by the talented students in Pratt’s Fashion Design Department at the annual Pratt Fashion Show on Wednesday, May 10.
Pratt honored designer Diane von Furstenberg at this year’s show at The Manhattan Center, located at 311 West 34th Street. The event was free and open to the public, but tickets are required. Doors opened at 4:30 p.m.

Pratt hosted a private party in honor of von Furstenberg immediately following the show from 7-9 p.m. at the Hudson Hotel, located at 356 West 58th Street in Manhattan. Attendance at the after party was limited to fashion industry professionals, special guests, and press.

The Pratt Fashion Show featured the students’ best designs, pre-selected by a panel of fashion industry critics, across several categories of apparel including women’s, men’s, children’s, evening, bridal, sportswear, lingerie, lounge, resort, and costume design.

“The Pratt Fashion Show promises to showcase designs that define the direction of the fashion industry’s future,” says Rosie DePasquale, chair of the Pratt Fashion Design Department.
“The students have been working relentlessly to ensure that the work on stage illustrates the talent and drive they embrace as young, fresh designers. The support of an icon such as Diane von Furstenberg provides a tremendous amount of inspiration to the students and reminds them of what can be achieved with dedication to the art of fashion design.”

Von Furstenberg received the first Pratt Institute Fashion Icon Award during the show in recognition of her status as one of the most influential designers in the world. Her collections are sold in the most exclusive retail stores in more than 50 countries, and her designs are sought and worn by style makers, celebrities, and chic women worldwide.

In 2005, von Furstenberg received the Lifetime Achievement Award from the Council of Fashion Designers of America.

Vogue editor-at-large André Leon Talley will present the Pratt Institute Fashion Icon Award to von Furstenberg and will introduce a short video featuring the highlights of her remarkable career.

Talley initially joined Vogue in 1983 as fashion news director and also served as creative director. He was nominated for an Emmy Award for his weekly segment called “Vogue’s Talley” on Metro TV’s “Full Frontal Fashion.”

The Pratt Fashion Design Department is part of the School of Art and Design at Pratt Institute and is one of the oldest programs of its kind in the country. Applications have increased nearly 50 percent over the last five years making the program the most popular among undergraduate applicants to Pratt Institute.

Art and Design College ‘Pratt’ offering undergraduate and graduate degree programs in the schools of architecture, art and design, information and library science, and liberal arts and sciences. Pratt is located on 25 landscaped acres in the Clinton Hill section of Brooklyn and has a Manhattan campus in a large, newly renovated building on West 14th Street.

Courtesy : Pratt institute

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