Signature Eyewear posted its 22nd consecutive quarterly profit for the three-month period ended April 30, although there was a decrease in profits and sales from the same quarter a year ago. It has reported net income of $9,000 for the latest quarter, down from $157,000, while sales fell to $4.5 million from $5.9 million.
The American company sells eyewear under its own brands – Dakota Smith, Rough Justice and The Signature Collection – and a variety of licenses: Carmen Marc Valvo, Cutter & Buck, Hart Schaffner Marx, Laura Ashley, Michael Stars and Nicole Miller.
The sales decline in the latest quarter was primarily due to the expiration of licensing contracts for Bebe and Hummer eyewear in June of last year. This was partly offset by incremental revenues of $1.2 million from the remaining collections and the addition of a new line of footwear under the Rough Justice brand name.Additional revenues are expected from the launch of Hickey Freeman eyewear and Bobby Jones sunglasses this summer and from the first deliveries next autumn of Rough Justice prescription frames and sunglasses.
Meanwhile, Signature Eyewear has announced the renewal of its licensing agreement with Carmen Marc Valvo through April 2016.