Ennis' apparel division, which includes promotional products apparel supplier Alstyle Apparel, felt the brunt of the loss. In addition to the increases costs, the company experienced decreased apparel sales in the quarter, falling 17 percent to $61.2 million.
"Whether this is just a temporary situation or one we will have to manage for an extended period of time is unknown. As we indicated previously, manufacturers' ability to navigate through this period of higher cotton costs was dependent upon many factors, one being the continued economic recovery. The current softness in the marketplace will make this an even more challenging task for all concerned," Walters stated.
- Companies:
- Alstyle Apparel
Kyle A. Richardson is the editorial director of Promo Marketing. He joined the company in 2006 brings more than a decade of publishing, marketing and media experience to the magazine. If you see him, buy him a drink.