Tag - Clothing

There's no business like the shoe business, but can a designer shoe company
prosper even in recessionary times?

Investors could be asking that about Steve Madden Ltd. (Nasdaq:SHOO), which was up double digits for the year before Monday's market meltdown. After getting scuffed up, Steve Madden stock remains in positive territory for the year - it began 2008 trading around $20 - and is faring better than many small caps.

With a new CEO, some unsolicited offers apparently off the table and a 2.6-million-share buyback via Dutch auction completed, Long Island-based Steve Madden is moving headfirst toward the crucial holiday season.

According to a Thomson Reuters survey of six analysts who cover Steve Madden, five have the stock a "strong buy," with the other at "buy." Shares hit a 52-week high of $29 on Sept. 19, rebounding from a post-holiday low of $14.61 on Jan. 15. Steve Madden closed Thursday at $20.01.

Steve Madden stock was up nearly 14% this year before the recent market turbulence. The economy is a big question mark for the retail sector this upcoming holiday shopping season. Even the well-heeled who frequent Steve Madden's 100 or so stores are feeling the pinch.

Steve Madden standalone stores are mainly in metro areas, but its products are found at many retailers as well as online. Nearly three-quarters of 2007 sales came from its wholesale operations.

The Steve Madden lineup has expanded to include women's apparel and accessories, plus men's shoes. Higher-end products are sold through the company's . . .

American Apparel Inc. (AMEX:APP) is the epitome of “edgy,” yet there is a schizophrenic tinge when analyzing the last large-scale clothing company whose labels read “Made in the USA.”

The Los Angeles company wears the badge of abolishing the garment industry sweatshop while managing to keep its prices low. The fashion genius of founder Dov Charney is lauded, but there are allegations made by former American Apparel employees and others about his seemingly offbeat behavior — including sexual-harassment lawsuits. Montreal native Charney was presented this year with the fashion industry’s “Retailer of the Year” award. 
 
Fashion is a sexually charged industry, and American Apparel’s image kicks that up a notch. American Apparel’s first eight months publicly traded have been rocky, with negative publicity piling up like a mountain of tattered tees in a thrift store discount bin. Those distractions make it difficult to peek under the covers at the financial soundness.

Of the three analysts who follow American Apparel, two rate the stock a “strong buy,” and the other calls it a “buy.” The median price target calculated by Thomson Reuters is $14.50.

In a Sept. 8 report to investors, analyst Mickey Schleien of Ladenburg Thalmann sounded impressed by solid same-store sales and its retail store expansion. Schleien also noted a $54 men’s oxford shirt was added, substantially higher than its T-shirts costing around $20. “Expanding the product line may help capture more customers and generate cross-selling opportunities,” wrote Schleien, who reiterated . . .

Worship at the alter of denim: True Religion Apparel, Inc. (Nasdaq:TRLG) is the true religion for jean wearers and investors alike, churning out stellar top and bottom-lines around a brand that has garnered considerable clout in only five years.

True Religion’s fit, look and feel of lived-in jeans is what has created a competitive advantage for the jean manufacturer in a saturated market and pushed it to the designer-brand level. The jeans, which are sold through stand-alone stores and high-end department stores such as Saks 5th Avenue and Neiman Marcus, range from $170 to $350 per pair.

Given the success True Religion has had, it’s branching out into other clothing offerings, such as jackets, shorts, cargo pants, tops and shirts in other non-denim fabrics such as corduroy and twill. The retailer is also expanding into colored denim this year, and last year the patented its “super big-T stitch,” a distinctive thread stitch that characterized its best-selling products in 2007.

While almost every other retailer continues to languish in the murky macro environment characterized by crippled consumer spending, True Religion is devoutly hitting quarter after quarter out of the ball park.

For the second quarter ended June 30, 2008, net sales for the consumer direct segment, the company’s bread and butter, surged 170.5% to $17.7 million from $6.5 million in the prior year period. A segment mix shift toward the company’s higher margin consumer direct business has certainly helped buoy results.

While most other retailers have had to close stores to make ends meet, True Religion opened 12 new stores in the quarter.

Both revenues and earnings bested the consensus on Wall Street. Revenues soared 79% to $64.2 million from $35.9 million in the same quarter last year. Net income surged 86% to $9.3 million, or $0.39 per share, compared with profit of nearly $5 million, or $0.21 per share, for the second quarter in 2007. Analysts were expecting earnings of $0.32 per share on sales of nearly $50.2 million.

International revenues picked up steam, soaring 66.3% in the quarter.

What remains impressive about True Religion is that its jeans will likely remain the “it” pairs for the remainder of the fiscal year on account of management’s . . .

Gidgets and Moondoggies of the world unite: clothing company Volcom Inc. (Nasdaq:VLCM) rode into the active apparel market in the 90s and has been hanging ten ever since, with its stock price recently increasing by 26%.

The company’s line includes t-shirts, fleece, bottoms, tops, jackets, board shorts, denim, outerwear and footwear accessories, but it is more than just a run-of-the-mill clothing company.

Unlike most companies that come about from board rooms full of men in suits, Volcom was conceived by twenty-somethings Richard Woolcott and Tucker Hall on a snowboard trip the two took to Lake Tahoe in March of 1991. With $5,000 borrowed from Woolcott’s father, the two set out to create a clothing company based around their mutual love of three sports: surfing, skateboarding and snowboarding.

Their “youth against establishment” mantra translated to an initially anti-establishment business model. Volcom’s headquarters were first set up in Woolcott’s bedroom in Newport Beach, while sales were run out of Hall’s bedroom in Huntington Beach. Clothing revenues for the first year were $2,600.

Flash forward to 2008 and one can see the “gnarly” wave of growth the company has ridden. Over the years, the company has expanded from not only clothing, but sponsoring athletes, building skateparks, producing films and creating a Volcom record label.

And that paltry $2,600 in sales its very first year? Try $80.6 million today. For the quarter ended March 31, 2008, net income rose to $9.3 million, or $0.38 per share, from $5.5 million, or $0.22 per share in the prior-year quarter. Analysts polled by Thomson Financial expected profits of $0.21 per share. Revenue rose 59% . . .

Zumiez Inc. (Nasdaq: ZUMZ), was downgraded today to “neutral” from “positive” by Susquehanna Financial after the action sports apparel and accessories retailer reported a decline in comparable store sales for the month of February after Wednesday’s close. 

“Zumiez is off to a sluggish start to the new fiscal year with a below-plan February comp decline,” Susquehanna Financial analyst Thomas Filandro wrote in a research note today.

For the four-week period ended March 1, the Everett, Wash.-based small cap reported comparable store sales decreased 2.6%, compared with a comparable store sales increase of 12.4% for the same four-week period in 2007.

Total net sales for February increased 11.5% to $23.1 million, compared with $20.7 million for February 2007.

The analyst said the retailer’s weak results were primarily due to a drop in average store transactions as well as negative results in footwear and men’s apparel. Filandro said positive results in the retailer’s skate hard goods category somewhat offset the weakness.

“Given the below plan start to the new year, combined with difficult prior year comparisons and a weak consumer environment, we are taking a more conservative view for the balance of 2008,” wrote Filandro.

Maidenform Brands, Inc. (NYSE: MFB) shares are lifting after the maker of intimate apparel posted a 97% rise in fourth-quarter profit on strong sales.

For the three months ended Dec. 29, quarterly profit increase to $6.4 million, or $0.27 per share, from $3.2 million, or $0.13 per share, a year earlier. Analysts expected earnings of $0.20 per share.

Fourth-quarter revenue climbed 13% to $95.8 million, compared with $85 million during the year-ago period. Wall Street analysts, on average, projected revenue of $89.8 million.

Going forward, the Bayonne, N.J.-based firm sees fiscal 2008 earnings growth of 10% to 15% and a net sales increase of 4% to 7%.

In afternoon trading, MFB shares are up 19.51%, or $2.35, at $14.38. Over the last 52 weeks, shares have ranged from $11.03 to $24.49.

The Wet Seal, Inc. (Nasdaq: WTSLA) shares are increasing after the investment bank Piper Jaffray added the teen retailer to its “Alpha List,” a short-term category used to place emphasis on firms whose shares have positive signs, with a $4 price target.

Piper Jaffray said the company’s new management team will explain an aggressive top-line growth plan and cost reduction details at an upcoming investor conference. The investment bank said Wet Seal is one of its “top small-cap ideas” for the first half of fiscal 2009.

In afternoon trading, WTSLA shares are up 6.14%, or $0.14, at $2.42. Over the last 52 weeks, shares have ranged from $1.81 to $6.75.

Perry Ellis International (Nasdaq: PERY) said this morning that it has acquired C&C California and Laundry brands from Liz Claiborne Inc. for $37 million and anticipates the brands will contribute an additional $60 million in revenue by 2009.

“These acquisitions, which advance Perry Ellis International’s growth strategy with two strong brands, with a very young following,” said George Feldenkreis, chief executive officer of Perry Ellis. "The addition of C&C California and Laundry will allow us to aggressively pursue women’s apparel in the contemporary segment, which is the fastest growing one of the women’s market today. With this acquisition, we increase our long-term growth potential.”

The fashion label says it thinks revenues from its two new contemporary brands should increase at a double digit annual rate over the next five years. The acquisition is said to have no impact on fiscal 2008, but that accretion in the range of $0.08 to $0.10 is expected in fiscal 2009.

The company said it expects to close the acquisition by Feb. 4.

Shares of Perry Ellis (PERY) were halted in pre-market trading.

Christopher & Banks Corp. (NYSE: CBK) reported fiscal December sales declined 1% for the four-week period ended Dec. 29, 2007.

Total sales for the month of December did edge up to $61.8 million from $60 million in the same period last year.

As of Dec. 29, 2007, the retailer operated 841 stores, compared with 779 stores as in December of 2006.

Shares of Christopher & Banks (CBK) were halted in pre-market trading. 

Christopher & Banks Corp. (NYSE: CBK) reported third-quarter earnings beat the Street by a penny; however, the company warned of a tough December and issued fourth quarter and fiscal year guidance below analysts’ projections.

For the three months ended Dec. 1, the women’s retailer recorded net income of $10.2 million, or $0.29 per diluted share, a penny above the Thomson Financial mean estimate of $0.28 per share. For the third quarter last year, the small cap earned $9.2 million, or $0.24 per diluted share.

Total sales were $160 million, compared with $139.3 million for the same quarter last year. Analysts expected revenue of $160.7 million.

Same-store sales for the thirteen-week period ended Dec. 1, 2007 increased 9% over the comparable period of 2006.

While the third quarter clocked in robust, the retailer warned fourth quarter and fiscal year earnings would be weaker in light of softer December sales, as a promotional retail environment, challenging macroeconomic conditions and snow and ice storms in several geographic regions struck the company.

As a result, the company currently anticipates fourth-quarter earnings per diluted share to be in the range of $0.02 to $0.05, below the $0.07 10 analysts polled by Thomson Financial were on average anticipating. This compares to fourth quarter of fiscal 2007 earnings per diluted share of $0.05.

Eddie Bauer Holdings, Inc. (Nasdaq: EBHI), a specialty retailer that sells casual sportswear and accessories, said late Thursday that they have made a voluntary prepayment of $20 million on an existing term loan facility.

After the prepayment, there is a balance of approximately $196 million outstanding on the term loan.

The small cap noted that it is currently in compliance with all financial covenants under the term loan, even without giving effect to the voluntary prepayment.

Shares of Eddie Bauer (EBHI) gained $0.38, or 6.3%, to $6.41 at 10:15 a.m. ET. Shares of Eddie Bauer have been trading in the range of $$5.56 and $14.27 for the past 52 weeks.

Shares of JoS. A. Bank Clothiers, Inc. (Nasdaq: JOSB) are gaining ground ahead of the opening after the men’s clothing retailer reported third-quarter earnings above the consensus on Wall Street.

For the three months ended Nov. 3, the Hampstead, Md.-based small cap recorded net income of $7.1 million, or $0.38 per share, above the consensus of six analysts polled by Thomson of $0.33 per share. The current quarter earnings represent an increase of 27% over the 5.5 million, or $0.30 per share, earned in the third quarter of fiscal 2006.

Revenues increased to $131.3 million, up from $119.5 million in the third quarter of 2006. Three analysts polled by Thomson were forecasting revenues of $131.30 million.

Shares of JoS. A. Bank (JOSB) gained $1.40, or 5.47%, to $27 ahead of the opening. Shares of JoS. A. Bank have been trading in the range of $24.59 to $46.16 for the past 52 weeks.

A new management team with a back-to-basics strategy, coupled with a beaten-down stock price, could make this small cap retail play an attractive medium-term turnaround opportunity.

The past 12 months have been quite a roller coaster ride for shareholders of outdoor casual sportswear and accessories retailer Eddie Bauer Holdings, Inc. (Nasdaq: EBHI). In February of this year, shareholders of the $209 million market capitalization company rejected a buyout offer at $9.25 a share from two private equity firms. By June, with Eddie Bauer shares touching the $14 level and a newly named CEO at the helm, rejecting this deal looked like a smart move.

However, after weaker-than-expected sales and rising expenses in recent months, Eddie Bauer shares have been punished, wiping away its summer gains and then some. As of this writing, the stock is now trading around the $6 level, near its lowest levels since being spun off in 2005 from its former parent, Spiegel Inc., as part of that company’s Chapter 11 bankruptcy reorganization.

Founded in Seattle, Wash., in 1920, Eddie Bauer has endured a rocky road in recent years, but still retains a solid brand name and retail footprint with 390 apparel and outlet stores throughout the United States and Canada, and a catalog sales and online operation. Revenue for fiscal 2006 topped $1 billion. Veteran retail manager Neil Fiske was named Eddie Bauer’s new CEO in June. Fiske may be unable to turn things around at ailing Eddie Bauer, but he isn’t new to the retail turnaround game. He previously led the successful turnaround of Bath & Body Works, a $2.5 billion in revenue division of Limited Brands, Inc. (NYSE: LTD). Earlier this month, Eddie Bauer also named several other veteran retail executives to fill out its new management team.

Attention long-term investors, Zumiez Inc. (Nasdaq: ZUMZ) is on sale. Susquehanna Financial upgraded the action sports-related specialty retailer to “positive” from “neutral” on a positive risk/reward profile.

“With ZUMZ shares off 47% from a 52-week high set in October of this year, and currently trading at a P/E of 23 times our 2008 EPS projection, an 8% discount to the company’s stated minimum 25% per annum EPS growth target, we believe the shares offer a compelling risk/reward profile for longer term investors,” Susquehanna Financial analyst Thomas Filandro wrote in a client note today.

Although macroeconomic overtones are against this small-cap retailer, Filandro says it appears Zumiez’s underlying business is bucking the trend as the company’s Thanksgiving weekend comp jumped 14% to 16%. However, he notes that while shares are trading at a premium valuation to the sector, the shares are susceptible to downside risk if the broader consumer environment weakens further.

Zumiez reported third-quarter results after Thursday’s close in line with the Street and reiterated guidance. For the three months ended Nov. 3, the Everett, Wash.-based company posted net income for the quarter of $8.1 million, or $0.28 per diluted share, compared with $6.8 million or $0.24 per diluted share in the third quarter of 2006. Bottom-line results for the quarter were in line with the Thomson Financial mean estimate.

New York & Company, Inc. (NYSE: NWY) shares are falling after the women’s apparel retailer lowered its fiscal year earnings outlook range to a loss of $0.10 per share to earning $0.03 per share, from previous guidance of earning $0.32 to $0.45 per share. Last year, the company earned $0.77 per share.

Before the opening, New York & Company reported that it swung to a third-quarter loss of $16 million, or $0.27 per share, widely missing analyst estimates of earning $0.05 per share and compared with earning $9.6 million, or $0.16 per share, a year earlier. Quarterly revenue rose 6% to $287 million, above Wall Street projections of $285.5 million and from $270.9 million during the year-ago period.

“We are pleased that our strategy of maximizing profitability by controlling inventory and managing expenses has enabled us to exceed the high end of our guidance in a challenging business environment,” CEO Richard Crystal said in a statement.  “We are excited about our new bath and body launch, pleased with our sustained success in the pant, dress, skirt, jacket and sweater categories, and look forward to continued growth in our E-Commerce business."

The company also said it will exit its underperforming 23-store JasmineSola chain, aimed at selling apparel to young women.

In afternoon trading, NWY shares are down 9.82%, or $0.72, at $6.61. Over the last 52 weeks, shares have ranged from $5.69 to $16.20.

Perry Ellis International, Inc. (Nasdaq: PERY) COO Oscar Feldenkreis said despite lowered guidance, the clothing maker expects a “solid” fourth quarter. Feldenkreis made the comments during a midday conference call.

“We are convinced that our strategy and business platforms will keep producing strong results,” Feldenkreis said. “We are bullish about our prospects for a phenomenal fiscal 2009 and remain confident that the investments that we are making this year will allow us to keep outpacing the industry’s overall growth rate.”

Citing warm fall weather, high fuel prices and a Christmas season expected to be weaker than normal, Perry Ellis lowered its fiscal 2008 earnings guidance 5% to a range of $1.78 to $1.82, from a previous range of $1.87 to $1.91. Fiscal 2008 revenue is expected to be in the range of $870 million to $880 million, from a previously projected range of $900 million to $910 million.

“We have taken a conservative approach in reducing our revenue projection because some of our bottom replenishment programs have been projected down by retailer’s concern about a slowdown and the possibility of a more promotional Christmas season,” CEO George Feldenkreis said.

Before the opening bell, Perry Ellis posted third-quarter revenue of $227.5 million, on par with analyst expectations of $227.8 million and up 7% from $213.2 million a year earlier. The firm’s quarterly net income grew to $8.5 million, or $0.55 per share, slightly beating Wall Street projections of $0.54 per share and compared with $8.2 million, or $0.53 per share, during the year-ago period.

“As diversified as our portfolio is, we are not immune to the deterioration of the current macroeconomic environment and the consequences of unusually warm fall weather to the entire apparel industry,” the chief operating officer said. “We are taking all necessary steps to minimize the impacts. As such, we believe it is prudent to take a conservative approach when planning this business for the remainder of the year.”

Mall-based specialty retailer Hot Topic, Inc. (Nasdaq: HOTT) reported after Wednesday’s close that its October and third-quarter sales declined. Additionally, the small cap lowered its third-quarter earnings guidance.

For its fiscal month of October, Hot Topic said sales fell 3.2% to $58.1 million, compared with October 2006.

For the three months ended Nov. 3, the company recorded sales of $188.5 million, a 4.2% decline over $ 196.67 million in the third quarter of 2006. Nine analysts polled by Thomson Financial were on average forecasting sales of $193.68 million for the third quarter.

Adding to the company’s glum news, Hot Topic lowered its third quarter earnings guidance to a range of $0.14 to $0.15 per share from previous a guidance range of $0.13 to $0.16 per share. Fifteen analysts polled by Thomson Financial were on average estimating EPS of $0.15.

Shares of Hot Topic (HOTT) were halted in pre-market trading.

Delta Apparel, Inc. (AMEX: DLA) shares are dipping after the clothing maker reported it swung to a first-quarter loss, due to acquisition costs, lower sales and price increases in raw materials and energy.

“While we remain encouraged with the future opportunities for each of our operating units, we recognize that the weak overall demand for apparel, significant raw material and energy price increases, and production constraints and start-up costs associated with our textile restructuring create risk to our overall profitability in the near future,” CEO Robert Humphreys said in a statement. “Therefore, we are adjusting our fiscal year financial estimates downward accordingly.”

For the second quarter, Delta Apparel anticipates sales in the range of $64 million to $68 million, compared with analyst estimates of $71.5 million. Delta expects a loss of between $0.33 and $0.37 per share, compared with Wall Street projections of earning $0.05 per share and $0.07 per share a year earlier.

For fiscal year, the firm expects net sales in the range of $325 million to $340 million, compared with analyst estimates of $341.5 million. The company anticipates full-year earnings to be in the range of $0.62 to $0.76 per share, compared with Wall Street estimates of $1.48 per share.

“While we are cautious about consumer demand for apparel in the short run, we believe all of our business units are moving forward in a positive direction,” Humphreys said. “These trends should help us position ourselves to take advantage of better market conditions as they unfold. We remain focused on completing our textile restructuring. We expect the excess expense associated with these initiatives will be substantially behind us by the end of our third fiscal quarter.”

Delta also said it will stop paying its quarterly dividend of $0.05 per share in order to improve its financial condition.

In midday trading, DLA shares are down 15.84%, or $2.59, at $13.76. Over the last 52 weeks, shares have ranged from $13.75 to $19.99.

Cache Inc. (Nasdaq: CACH), a specialty chain of women’s apparel stores, this morning reported third-quarter earnings inline with the Street.

For the three months ended Sept. 29, the retailer recorded net income of $161,000, or $0.01 per diluted share, right inline with the consensus of ten analysts polled by Thomson Financial. For the third quarter last year, net income was $690,000, or $0.04 per diluted share.
 
Net sales were $60.6 million, compared with sales of $59.94 million earned last year. Nine analysts were on average forecasting sales of $59.91 million.

Third-quarter fiscal 2006 net sales included $2.9 million in sales for the former Lillie Rubin business, as well as $2.4 million of breakage income for previously issued gift cards and merchandise credits.

Comparable store sales increased 4%.

Shares of Cache (CACH) lost $0.27, or 1.63%, to $16.27 ahead of the opening. Shares of Cache have been trading in the range of $12.50 to $26.32 for the past 52 weeks.

Kenneth Cole Productions Inc. (NYSE: KCP) announced after Tuesday’s close that it acquired the Le Tigre LLC trademark, its tiger logo, portfolio license and other intellectual property associated with the brand.

"We are pleased to add such a strong and internationally respected brand to our portfolio. We believe there is significant upside for the company, specifically through various licensing opportunities as well as through the introduction of men's, women's and children's footwear,” CEO Kenneth Cole said in a statement.

The terms of the deal were not disclosed but Kenneth Cole’s CFO David Edelman said the purchase is expected to "build on our high-margin licensing revenue stream."

In pre-market trading, KCP shares are down $0.24, or 1.15%, at $20.65. Over the last 52 weeks, shares have range from $19.09 to $28.32.

Shares of Kellwood Company (NYSE: KWD) took a beating today after Broadpoint Capital downgraded the marketer of women's and men's sportswear to a “neutral” rating from “buy,” based on corporate restructuring efforts, financial weakness in a private-label and Moody’s review of Kellwood’s debt.

Kellwood said that its corporate restructuring could take 12 to 18 months and now expects additional restructuring charges of $30 to $36 million in the second half of 2007 and fiscal year 2008. This comes after the company spent $114.3 million on restructuring charges in the second quarter.

The St Louis, Mo.-based company is also having difficulties with its private menswear label Smart Shirts. According to Broadpoint Capital analyst Randall Scherago, the recent decline in profitability in the fashion line could weigh down earnings.

“We believe there continues to be financial pressure on Kellwood's mid-market consumer, as there are no "must-have" fashion trends to drive mall traffic,” Scherago wrote in a research note today. 

Adding to difficulties facing the company, on Friday, Moody’s put Kellwood’s debt under review for a possible downgrade on concerns about the sustainability of Kellwood’s “operating margins and weak financial metrics.” According to Scherago, such a downgrade could “impair the company’s acquisition strategy,” as management continues to focus on acquisitions. Further, according to Scherago, the company is not fully integrating its acquisitions to fully capitalize on synergies.

Additionally, Scherago points out that many of the brands in each division have different target customers, retail partners and price points.

Kellwood recently downgraded its fiscal 2007 revenue and earnings guidance. The firm now expects revenues of between $1.95 billion and $2 billion down from previously forecasted levels of between $2 billion and $2.03 billion. Kellwood cut its EPS estimate to $1.30 to $1.40 from a range of $1.80 to $1.89.

Scherago is forecasting earnings of $1.30 per share on revenues of $1.93 billion, while five analysts polled by Thomson Financial on average anticipate earnings of $1.42 per share on revenues of $1.99 billion.

Shares of Kellwood (KWD) slid $0.79, or 4.95%, to close at $15.17 on Tuesday.

In the fashion world, last week is often so last year. But having the coolest – and latest – clothes at times seems almost to be part of the very genetic make-up of many folk.

And for retailers that can continually hit the sweet spot and have the right clothing and accessories on their racks, continually ringing cash registers is the reward.

For investors, that means a stock that will never go out of style on you. And that seems to be the case with one of Canada’s most successful clothing chains, Le Chateau Inc. (TSX: CTU.A).

Le Chateau was founded in Montréal in 1959 by Herschel H. Segal, who remains at the helm today. Le Chateau specializes in selling contemporary fashion clothing, accessories, and footwear to what it calls “style-conscious women and men.” Its merchandise is sold exclusively through more than 190 Canadian signature stores, and five retail locations in the United States, largely in the New York City area. The company has more than 2,800 employees who turn out over 2.5 million high quality garments a year, much of that made in its own Canadian production facilities.

If you want to play in the fashion word, you need to have relentless focus. And that’s something Le Chateau has, if you go by its own description of its activities: “Our brand's success is built on quick identification of and response to fashion trends through our design, product development and vertically integrated operations.”

The real eye-opener lies with the impressively non-fickle results of Le Chateau's long-term results. They are solid enough as to qualify as timelessly fashionable for the value-seeking set, and here, of course, I refer to investors, not fashionistas.