Tandy Brands Accessories Inc. president and chief executive officer Rod McGeachy believes the firm is on track to break even in 2013 despite a third quarter in which its losses narrowed only slightly.
“We exited some unprofitable businesses and selectively shrunk the top line in order to improve the bottom line,” McGeachy told WWD. “Our selling, general and administrative expenses were down $1 million in the quarter, and our debt is down to $7.5 million from $20 million a year ago. Our new licenses are starting to take off. We’re hoping for profitability in the next fiscal year.”
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)