Phoenix footwear flourishes as sales surge
The American company behind the Trotter and Softwalk footwear brands, the Phoenix Footwear Group has announced the brands generated a 2.2% increase of US$7.4 million in its fourth quarter net sales. Full year net sales were up 5.7% to US$36.2 million.
The Maine-based company said it had also offered to buy Antigua Enterprises Inc for US$1.5 million in shares on the assumption of US$18 million debt. The deal would give
Chairman and CEO, James Reidman said he was pleased to be able to announce increased revenues against the backdrop of one of the most difficult trading seasons in decades, adding that in 2003 the Trotter and Softwalk brands would continue to provide the mainstay of the company’s business.
