CIT: West Coast team featured in Fashion Manuscript.
FSG LAWYERS: Represented Loomworks Apparel (P.J. Salvage) on its acquisiton by Delta Galil.
Details on Industry Insight.
Volcom said in its earnings press release this afternoon that it is acquiring 10 Volcom outlet stores from a licensee.
Terms of the deal were not disclosed. The outlet stores are in California, Nevada, Washington and Utah.
The company also released financial results for the fourth quarter and full year.
Here is a quick summary. Click here to read the full release.
Total revenue: up 22.4% to $78.6 million
Gross margin: 45% vs. 49.2% the same period last year
SG&A: $34 million vs. $28.1 million
Net income: down 53% to $1.6 million
Cash and equivalents: $90.3 million
Long term debt: none
Total revenue: up 15.2% to $323.2 million
Electric revenue: up 30.3% to $27.5 million
Net income: up 2.5% to $22.3 million
Revenue: up 7% to 11% to $83 million to $86 million
EPS: 16 cents to 19 cents
Revenue: up 13% to 15% to $366 million to $371 million
EPS: $1.08 to $1.14