Is there a thread for BLUE already?....I found this on another board.....Interesting reading. I like their jeans but i don't know much about the company
......EXPLOSIVE LOW FLOATER.....
- BLUE's NEW CEO HAS ESTABLISHED AND IS EXECUTING AN AGGRESSIVE RESTRUCTURING PROGRAM AIMED AT RETURNING THE COMPANY TO PROFITABILITY AND STEADY GROWTH:
* GUIDANCE CALLS FOR RETURN TO PROFITABILITY THIS QUARTER
* STAFF REDUCTIONS WILL SAVE $600K/QUARTER OR 12c/SH/YR
* COMPANY WILL FOCUS on ANTIK DENIM, TAVERNITY SO, and YANUK FASHION JEANS
* SIGNED DEALS TO SELL ITS JEANS AT MACY's, DILLARDS, AND MANY OTHER HIGH END FASHION STORES
* 80%+ LARGEST SHAREHOLDER/FOUNDER PAUL GUEZ CONTINUES TO ADD TO HIS POSITION MAKING SOME THINK THAT HE MIGHT TAKE THE COMPANY PRIVATE.
- RECENTLY RECEIVER ALMOST $3M FROM IRS SHORING UP ITS BALANCE SHEET
- COMPETITOR TRLG WENT FROM 50c TO $20 IN 3 YEARS
- TRLG LAST WEEK REAFFIRMED BULLISH GUIDANCE AND SAID THAT WEAK ECONOMY HAS NO EFFECT ON SALES OF HIGH END FASHION JEANS
....AN INDUSTRY ANALYST WROTE THIS ABOUT BLUE TURNAROUND LAST MONTH:
?We like new CEO Glen Palmer a lot. He has turnaround experience and he is a very bottom-line, no-nonsense kind of guy. If anyone can turn this company, he can,? said Beder.
To increase sales, Palmer has decided to focus on growing Antik Denim?Blue Holdings? largest business?in the department store channel, rather than in the brand?s customary high-end specialty store base.
For spring ?08, Antik Denim will begin selling at Macy?s East and Dillard?s doors for the first time. Palmer believes the Macy?s business will reach $5 million within a year.
Additionally, Palmer is refocusing Antik Denim and Taverniti So on core products and moving away from the fashion-heavy looks the brands were known for. The company is also implementing EDI replenishment systems for its core styles at department stores.
To that same end, Blue Holdings is relaunching its Yanuk brand as a non-premium denim and sportswear range for fall ?08, with retail prices ranging from $89 to $125. The company hopes to reach sales of $3 million to $4 million in the first season.
The company?s overseas sales have mirrored weakness domestically, with international sales contributing 20.9 percent of revenue in the first three quarters of 2007, versus 30 percent a year ago. To jump-start that business, the company recently signed a new three-year Canada license for Antik Denim, is in negotiations for a Japan license for Yanuk, and is close to announcing deals for Taverniti So in England, the Far East and the Middle East, according to Palmer.
To cut costs, Blue Holdings has eliminated $2.4 million in annual payroll expenses, or over 35 jobs, since Palmer joined the company. ?The cuts came from across the company. We are right-sizing; there was a lot of fat,? he noted bluntly.
The company also shuttered its nascent Life & Death brand and is reexamining its deal to launch a label with Will.i.am of the music group Black Eyed Peas. However, the company has still not decided whether or not to close its two freestanding stores in L.A. and San Francisco, as it previously announced it would.
Despite the daunting challenges facing Blue Holdings, Palmer is confident the company can regain its footing. Its top-priced Taverniti So line continues to sell well at retailers like Saks Fifth Avenue, Neiman Marcus, H. Lorenzo and Atrium, he noted
ABOUT BLUE:
Blue Holdings, Inc., through its subsidiaries, engages in the design, development, marketing, and distribution of fashion jeans, apparel, and accessories for women, men, and children. The company's products include jeans, jackets, belts, purses, and T-shirts. It sells its products under Antik Denim, Yanuk, U, Life & Death, Faith Connexion, and Taverniti So Jeans brand names in the US and overseas.
......EXPLOSIVE LOW FLOATER.....
- BLUE's NEW CEO HAS ESTABLISHED AND IS EXECUTING AN AGGRESSIVE RESTRUCTURING PROGRAM AIMED AT RETURNING THE COMPANY TO PROFITABILITY AND STEADY GROWTH:
* GUIDANCE CALLS FOR RETURN TO PROFITABILITY THIS QUARTER
* STAFF REDUCTIONS WILL SAVE $600K/QUARTER OR 12c/SH/YR
* COMPANY WILL FOCUS on ANTIK DENIM, TAVERNITY SO, and YANUK FASHION JEANS
* SIGNED DEALS TO SELL ITS JEANS AT MACY's, DILLARDS, AND MANY OTHER HIGH END FASHION STORES
* 80%+ LARGEST SHAREHOLDER/FOUNDER PAUL GUEZ CONTINUES TO ADD TO HIS POSITION MAKING SOME THINK THAT HE MIGHT TAKE THE COMPANY PRIVATE.
- RECENTLY RECEIVER ALMOST $3M FROM IRS SHORING UP ITS BALANCE SHEET
- COMPETITOR TRLG WENT FROM 50c TO $20 IN 3 YEARS
- TRLG LAST WEEK REAFFIRMED BULLISH GUIDANCE AND SAID THAT WEAK ECONOMY HAS NO EFFECT ON SALES OF HIGH END FASHION JEANS
....AN INDUSTRY ANALYST WROTE THIS ABOUT BLUE TURNAROUND LAST MONTH:
?We like new CEO Glen Palmer a lot. He has turnaround experience and he is a very bottom-line, no-nonsense kind of guy. If anyone can turn this company, he can,? said Beder.
To increase sales, Palmer has decided to focus on growing Antik Denim?Blue Holdings? largest business?in the department store channel, rather than in the brand?s customary high-end specialty store base.
For spring ?08, Antik Denim will begin selling at Macy?s East and Dillard?s doors for the first time. Palmer believes the Macy?s business will reach $5 million within a year.
Additionally, Palmer is refocusing Antik Denim and Taverniti So on core products and moving away from the fashion-heavy looks the brands were known for. The company is also implementing EDI replenishment systems for its core styles at department stores.
To that same end, Blue Holdings is relaunching its Yanuk brand as a non-premium denim and sportswear range for fall ?08, with retail prices ranging from $89 to $125. The company hopes to reach sales of $3 million to $4 million in the first season.
The company?s overseas sales have mirrored weakness domestically, with international sales contributing 20.9 percent of revenue in the first three quarters of 2007, versus 30 percent a year ago. To jump-start that business, the company recently signed a new three-year Canada license for Antik Denim, is in negotiations for a Japan license for Yanuk, and is close to announcing deals for Taverniti So in England, the Far East and the Middle East, according to Palmer.
To cut costs, Blue Holdings has eliminated $2.4 million in annual payroll expenses, or over 35 jobs, since Palmer joined the company. ?The cuts came from across the company. We are right-sizing; there was a lot of fat,? he noted bluntly.
The company also shuttered its nascent Life & Death brand and is reexamining its deal to launch a label with Will.i.am of the music group Black Eyed Peas. However, the company has still not decided whether or not to close its two freestanding stores in L.A. and San Francisco, as it previously announced it would.
Despite the daunting challenges facing Blue Holdings, Palmer is confident the company can regain its footing. Its top-priced Taverniti So line continues to sell well at retailers like Saks Fifth Avenue, Neiman Marcus, H. Lorenzo and Atrium, he noted
ABOUT BLUE:
Blue Holdings, Inc., through its subsidiaries, engages in the design, development, marketing, and distribution of fashion jeans, apparel, and accessories for women, men, and children. The company's products include jeans, jackets, belts, purses, and T-shirts. It sells its products under Antik Denim, Yanuk, U, Life & Death, Faith Connexion, and Taverniti So Jeans brand names in the US and overseas.
