Ennis, Featuring Alstyle Apparel
As we were preparing our Top Distributors issue, news broke of four major industry shakeups. In the span of two weeks, Ennis announced plans to sell off Alstyle Apparel to an undisclosed buyer (later revealed to be Gildan Activewear), Hanesbrands Inc. acquired Champion Europe and Pacific Brands Limited, Taylor Corp. bought Staples Print Solutions, and private equity…
Ennis Inc. announced that it has closed on the agreement to acquire the assets of Folder Express from Wright Printing Company of Omaha, Neb. The business produces folders and specialty folders for music stores and public schools. The closing occurred September 30, 2013 involving the purchase of assets and assumption of certain liabilities. Ennis will continue to stay in the current location in Omaha, Nebraska occupying the facility under a lease.
Ennis Inc. reports higher second-quarter earnings overall, but a drop in apparel revenue.
Ennis has been upgraded by TheStreet Ratings from hold to buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, attractive valuation levels and good cash flow from operations. We feel these strengths outweigh the fact that the company has had sub-par growth in net income.
The Midlothian Rotary Club heard a presentation from Ennis Inc. in Midlothian about the company's business and outlook on the future at its meeting July 10.
Ennis Inc. Vice President Ron Graham and Vice President of Marketing Steven Osterloh spoke to Rotarians about their apparel and printing wholesale company.
"When (U.S. Highway) 287 was just a two-lane road, Ennis Inc. moved out to Midlothian," Osterloh said. "In 1998 the company saw an explosion of growth through acquisitions, from 129 million to a 630 million run rate. Most of our products are recognized by other company names and brands that we have acquired."
Cleveland-based Proforma recognized its top vendors at the 2011 Annual Convention and Family Reunion in New Orleans. More than 19 vendors received awards for their commitment to furthering Proforma's vision of success.
Midlothian, Texas-based Ennis Inc. and Glatfelter are hosting the 5th Annual VIP Series Conference in three locations this August.
Midlothian, Texas-based Ennis Inc. announced the promotion of Bob Hagen to general manager of its newest acquisition, Atlas Tag & Label in Neenah, Wisconsin. Mr. Hagen is a 10-year industry veteran, serving in roles such as accounting manager and controller. He has been a part of the Ennis Inc. team since the Atlas acquisition in September 2010.
Ennis Inc., Midlothian, Texas, announced the promotion of Joe Thompson to general manager of the DeWitt, Iowa facility. Thompson is a 27-year print industry veteran with a specialty in labels.
Ennis Inc., owner of Alstyle Apparel, saw its first-quarter net income slip 12 percent, hampered by declining profit margins and rising cotton costs.
The company earned $11.4 million, or 44 cents per share, for the three months ended May 31. That's down from $13 million, or 50 cents per share, a year earlier.
Gross profit margin fell to 27.7 percent from 30 percent, while print margins dropped to 28.8 percent from 30.3 percent. Clothing margins declined to 26.8 percent from 29.7 percent.
Revenue climbed 2 percent to $143.3 million from $140.7 million, helped by increased clothing sales.