Swank Inc.

• Public
• US

Dow Jones Description

We are currently engaged in the importation, sale and distribution of men's belts, leather accessories, suspenders, and men's jewelry. Our products are sold both domestically and internationally under a broad assortment of brands including both licensed tradenames and private labels. We distribute our merchandise principally through department stores and through a wide variety of specialty stores and mass merchandisers. We also operate four factory outlet stores primarily to distribute excess and out of line merchandise. Our net sales during the quarter ended September 30, 2008 decreased 8.3% to $28,685,000 compared to $31,277,000 for the corresponding period in 2007 and, for the nine-month period, decreased 7.4% to $79,158,000 compared to $85,521,000 last year. The decrease during the quarter was mainly due to lower shipments of our personal leather goods merchandise which was offset in part by increases in belt shipments. Net sales of our personal leather goods last year benefited from the launch of our new Tumi collection, which resulted in significant shipments of that merchandise during the quarter ended September 30, 2007 leading to unfavorable sales comparisons compared to this year's third quarter. For the year-to-date period, the decrease in net sales was due primarily to lower shipments of personal leather goods, jewelry, and belts as well as to a significant increase in certain promotional costs which are accounted for as a reduction to net sales. ...

Number of Employees 255

Contact Information

Peer Companies

• Tandy Leather Factory Inc.
• All Companies