Check out SUPI. Apparel manufacturer just signed seven new licensing agreements. Company looks solid. News released yesterday:
MIAMI--(BUSINESS WIRE)--March 31, 1998--Supreme International Corporation (Nasdaq: SUPI - news), announced today that it has signed licensing agreements with seven apparel companies, and has also renewed an eighth license. This marks the largest number of new licensing agreements the Company has signed since its founding 31 years ago.
The new Supreme licensees include:
Castlewood Apparel Corp., New York, for ''Munsingwear(R)'' activewear. Host Apparel, New York, for ''Munsingwear(R)'' sleepwear, robes and loungewear. J.E. Morgan Knitting Mills Inc., Allentown, Pennsylvania., for ''Munsingwear(R)'' thermal underwear. Knothe Corp., New York, for ''Munsingwear(R)'' pajamas and robes. Isaco International, Miami, Florida, for ''Munsingwear(R)'' fancy hosiery and neckwear. Monarch Hosiery, Burlington, North Carolina, for ''Munsingwear(R)'' hosiery. Paul Lavitt Mills, Hickory, North Carolina, for ''Munsingwear(R)'' hosiery. Drew Pearson Enterprises, Addison, Texas, for ''Munsingwear(R)'' hats and caps.
Isaco International, Miami, renewed its agreement, for Supreme's ''Natural Issue(R)'' brand of loungewear and hosiery.
The seven new licensees brings the total number of licensees under contract to 20, with a large majority being apparel makers wishing to license the Grand Slam-Munsingwear-Penguin golf brands that Supreme International has developed during the past year.
The Company noted that with the addition of the new licensees, it anticipates adding approximately $20 million in net sales during its fiscal 1999 year, which began on February 1, 1998.
Oscar Feldenkreis, President and Chief Operating Officer, commented, ''We are actively seeking licensees in a number of areas where gaps in our coverage remain. This is part of our long-term strategy to attract high-caliber companies and increase our sales and earnings.''
Supreme International designs, imports and markets men's and boy's fashion sportswear under a variety of brand names Natural Issue(R), Tribute(R), Grand Slam(R), Grand Slam Tour(R), Penguin Sport(R), Munsingwear(R), Career Club(R), Crossings(R), Essay(R), Andrew Fezza(R) and Tipos(R). Supreme's products are sold to department stores, chain stores, specialty stores and mass merchants throughout North America and other countries.
Forward-looking statements (statements which are not historical facts) in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Supreme's actual results could differ materially from those expressed or indicated by forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, changes in fashion trends, risks relating to the retail industry, use of contract manufacturing and foreign sourcing, import restrictions, competition, seasonality and other factors. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including those risks and uncertainties detailed in the Company's filings with the Securities and Exchange Commission.
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Contact:
George Feldenkreis
Chairman/Chief Executive Officer
305-592-2830
or
Investor Relations:
Gordon McCoun\Shannon Moody
Press: Michael McMullan
Morgen-Walke Associates
212-850-5600 |
