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"The Company generated a loss from continuing operations of $218,561 and $278,440 during the six months ended June 30, 2009 and June 30, 2008, respectively. Gross sales decreased from $766,247 to $412,945 for the same six months ended and related gross profit decreased from $264,508 to $193,136. However, gross profit as a percentage of net sales increased from 33.6% to 45.5% year over year. Overhead expenses decreased 24% from $542,948 to $411,697 from 2008 to 2009. The Company's net loss decreased $59,879 or 21.5% year over year.
"We have made substantial progress in reducing costs and improving quality by consolidating fabric production, closing the Atlanta show room, outsourcing distribution, and hiring a full time pattern maker. These measures have significantly reduced overhead expenses, allowing us to turn our focus to increasing revenues.
"Our 2009 Fall Line was displayed at August trade shows in eight cities, including New York, San Francisco, and Dallas. New customers placed orders and current customers added to existing orders.
"The 2009 Fall line is also being shown at in-home trunk shows by 18 new My Vintage Baby Direct Sales Reps. My Vintage Baby Direct is a pilot program expected to yield the many benefits of direct sales. Direct selling allows us to reduce prices, yet increase gross margins, providing a competitive advantage. Additionally, direct selling allows for quick expansion over large geographic areas. Boutiques and other retailers will continue to sell our products in areas not covered by Direct Sales Reps.
"We are looking forward to presenting our exciting Spring 2010 line to customers in late September."
Jessica Wiswall, CEO
ABOUT MY VINTAGE BABY:
My Vintage Baby is recognized as "a piece of yesterday for the hip child of today." Visit My Vintage Baby Shop Direct for select children's wear and accessories.
This press release contains "forward-looking statements," which are statements related to future, not past, events. These forward-looking statements often include statements regarding our goals, plans, projections and guidance regarding our financial position, results of operations, market position, pending and potential business strategies, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," or "seeks." Any such forward-looking statements are not assurances of future performance and involve risks and uncertainties that may cause results to differ materially from those set forth in these statements. These risks and uncertainties include, among other things, (a) general economic and business conditions, (b) the level of strategic partner incentives, (c) the future regulatory environment, (d) our cost of financing, (e) our ability to retain key personnel. These factors, as well as additional factors, could affect our forward-looking statements. We urge you to carefully consider this information. We undertake no duty to update our forward-looking statements, including our earnings outlook.
SOURCE: My Vintage Baby, Inc.
My Vintage Baby, Inc. Morgan Boatwright, 972-548-9850 ext. 3 Investor Relations invest@myvintagebaby.com
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The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.
The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302
© Copyright 2009 The Connors Group, Inc.
