For the nine-months ended Dec. 31, 2008, net sales jumped 9% to $123 million. Operating income increased 43% to $73.2 million.
Neil Katz, company chairman and chief executive officer, said, “Strategically, our focus on strengthening our position in U.S. department stores has been a success. The strategy has been expensive financially, with committed advertising investments that could not be reduced in a retail environment that plummeted in late 2008. Additionally, the global economic turmoil, compounded with a volatile U.S. dollar, negatively impacted our international sales.”