Tandy Brands Accessories Inc has reported results for the year ending June 30 2001 showing net sales of $199 million compared with $190 million in 2000. Profits for the same period were $4.4 million compared with $8.7 million last time. The company experienced a net loss of $831,000 in the fourth quarter.

The US firm manufactures and markets fashion accessories for men, women and children. The main product lines are belts, personal leather goods, handbags, suspenders, socks, scarves, and cold weather and hair accessories.

In March of 2000, the company negotiated an early termination of its small leather goods licensing agreement with Jones New York. The results for fiscal 2000 included a one-time benefit, including related costs, from the termination of this licensing agreement.

J.S.B. Jenkins, President and Chief Executive Officer, stated, "We were very pleased with the 16% sales growth we achieved for the quarter despite a difficult retail environment." He added: "we kicked off our new fiscal year with a strong beginning in July as we began shipping large amounts of goods sold through our new women's line of Dockers handbags, belts, and personal leather accessories. When we first announced our exclusive licensing agreement for the sale of Dockers accessories with Levi Strauss & Co., we were very excited about the strong growth potential this new product line represented for Tandy Brands."