Based on business and economic conditions, the Company reiterates its previously announced expectations for fiscal 2005. The Company currently anticipates sales to be in the range of approximately $240 million to $250 million and net income to be between approximately $9 million and $12 million. This outlook contemplates Private Brands to contribute in the range of $60 million to $70 million in revenue and Private Label to contribute in the range of $175 million to $185 million in revenue.
Aved concluded, "During the first half of the year, they executed their plan and delivered results that were in-line with their expectations. They are optimistic that the strategic initiatives they have in place will continue to gain traction as they move into the second half of the year. They look forward to continued growth as they ship the Princy by Jessica Simpson line and launch House of Dereon by Beyonce Knowles in the third quarter. Their Private Brands business has provided an additional engine for top line growth and margin expansion and they look forward to building upon their success in this area."
Conference Call
Tarrant Apparel Group will host a conference call Thursday, August 4, 2005 at 5:00 p.m. Eastern Time that may be accessed via the Internet at: company website or by dialing 800-683-1525 or 973-409-9261. Additionally, a replay of the call will be available through August 11, 2005 and can be accessed by dialing877-519-4471 or 973-341-3080, passcode 6349396.
marketing@alchempro.com
