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New Duck Head is Ex-Brooks Brothers Chief

Apparel company announces new president, quarterly income gain

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A few hours after announcing the appointment of a new president, Duck Head Apparel Company (Winder, Ga.) reported a modest net income of $545,000 for its first quarter ended Sept. 30, 2000, despite an 18.6 percent decrease in net sales. A year ago, the company had reported a net loss for the quarter of $1.75 million. One of the reasons for the income turnaround was the reduction of $2.1 million of interest expense a year ago. The company said the significant decrease in interest expense was primarily due to the contribution to capital of intercompany debt by Delta Woodside in connection with the spin-off of the company.

“We are pleased to report continuing progress in returning the company to profitable operations,” said Robert D. Rockey, chairman and ceo. “The decline in sales was primarily due to a substantial reduction in shipments with two major accounts as a result of ongoing negotiations to reduce or eliminate margin support agreements.”

Earlier in the day, the company announced that William V. Roberti had agreed to serve as president and coo, with Rockey remaining chairman and ceo, effective immediately. Roberti was president and ceo of the Plaid Clothing Group, Inc., which was engaged in the menswear business from 1996 to 1998. Most of the company's assets were acquired by Hartmarx Corp. in 1996. From 1987 to 1994, he served as president and ceo of Brooks Brothers, Inc. Before that, he was division chairman and CEO of the Emerging GrowthBusiness Group at Zale Corp.

Duck Head, which was spun off as a separate public reporting company on June 30 by Delta Woodside Industries, manufactures and sells men's and boys'apparel under the Duck Head brand. It also operates 26 retail outlet stores, primarily in the Southeast.

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