Iconix Brand Group, Inc. announced it has entered into a multi-year license agreement with J. C. Penney Company, Inc., one of America's leading retailers for its home brand, Royal Velvet. Royal Velvet is a premium home brand offering classic and sophisticated 
designs with an updated touch to consumers at every stage of their lives from first apartment and beyond.
The initial launch of Royal Velvet at JCPenney will consist of sheets, fashion bedding, blankets, pillows, towels, rugs, bath coordinates and windows to debut spring 2012 in all JCPenney stores and online at jcp's website. The launch will be supported with a multi-media marketing campaign including print, digital, outdoor and in-store collaterals.
"JCPenney is recognized by consumers as the go-to destination for home goods and this is an immense opportunity for Royal Velvet," commented Neil Cole, CEO, Iconix. "We are thrilled to be working with JCPenney on our Royal Velvet brand as we share the same vision and recognize the growth potential for this iconic brand," Cole added.
Read more about Iconix Partners with J.C. Penney on Royal Velvet @ Fibre2fashion
Tempur-Pedic International Inc, the leading manufacturer, marketer and distributor of premium mattresses and pillows worldwide, announced financial results for the third quarter ended September 30, 2011. The Company also increased full year 2011 financial guidance and announced an increase to its existing share repurchase authorization.
Financial Summary
Earnings per diluted share (EPS) increased 45% to $0.90 in the third quarter of 2011 as compared to $0.62 in the third quarter of 2010. The Company reported net income of $61.9 million in the third quarter of 2011 as compared to $44.2 million in the third quarter of 2010.
Net sales increased 30% to $383.1 million in the third quarter of 2011 from $295.8 million in the third quarter of 2010. On a constant currency basis, net sales increased 26%. Net sales in the North American segment increased 30%, while International segment net sales increased 28%. On a constant currency basis, International segment net sales increased 15%.
Mattress sales increased 28% globally.
Mattress sales increased 28% in the North American segment and 31% in the International segment. On a constant currency basis, International mattress sales increased 18%. Pillow sales increased 12% globally. Pillow sales increased 5% in North America and 21% in the International segment. On a constant currency basis, International pillow sales increased 9%.
Read more about Tempur Pedic International's CEO Discusses Q3 2011 Results @ Fibre2fashion
American Textile Company (ATC) officially marks the opening of its new Tifton, Ga. manufacturing facility with a grand opening celebration. As a major manufacturer of basic bedding, ATC chose Tifton as a manufacturing location to strategically service the Company's customers in the Southeast. The 218,000 sq. ft. state-of-the-art facility will manufacture bed pillows, one of the key product categories for future product expansion by the Company. The opening of the Tifton facility finalizes ATC's nationwide pillow manufacturing strategy.
The facility will employ 65 people initially. "In a remarkably short time, the Company has completed facility renovations and brought manufacturing capabilities online. The efforts of these dedicated employees have enabled us to begin manufacturing pillows immediately," commented Mark Bachner, Senior Vice President of Operations for ATC.
"Today's grand opening symbolizes American Textile Company's commitment to providing quality service to our customers throughout the U.S. and Canada," said Lance Ruttenberg, President and Chief Operating Officer. "By manufacturing and shipping pillows from strategically planned locations throughout the country, we have reduced transportation costs for many of our customers and reduced delivery times."
American Textile Company is a leading supplier of quality mattress and pillow protectors, bed pillows and mattress pads that improve the quality of sleep.
