NEW YORK — Despite the rocky economy, R.G. Barry reported strong second-quarter earnings today.
The Pickerington, Ohio-based company said net income rose 48 percent, to $6.1 million, or 56 cents a diluted share, from $4.1 million, or 38 cents a diluted share, in the year-ago quarter.
Sales increased 27 percent, to $48.9 million from $38.6 million last year.
“Considering the difficult and highly promotional 2008 retail environment, our second-quarter performance was exceptionally good,” said Greg Tunney, president and CEO, in a statement.
The exec said strong slipper sales across retail channels lifted the firm during the holiday season, traditionally the company’s strongest period.
Looking ahead, Tunney said R.G. Barry is eyeing acquisitions that “can add meaningfully to our top line, are accretive to earnings and can further balance out the seasonal and demographic aspects of our business model.”
And Tunney said he is seeing more opportunities in the marketplace that could make sense for the firm.