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This was released Apr 20th,they have had some great news out lately.. Press Release Source: Ever-Glory International Group
Ever-Glory Passes Evaluation of Abercrombie & Fitch and Signs New Contract Thursday April 20, 10:00 am ET
LOS ANGELES, CALIFORNIA--(MARKET WIRE)--Apr 20, 2006 -- (PRIMEZONE) - Ever-Glory International Group (OTC BB:EGLY.OB - News) announced today the company has passed the evaluation of Abercrombie & Fitch's (NYSE:ANF - News) Product Quality Standard to become its producer. The production orders were signed through an agent and valued at over $500,000. Ever-Glory's reputation for quality products and responsible business practices are becoming firmly established throughout the apparel industry as deals with more top-tier apparel companies are in discussion. ADVERTISEMENT
In recent years, Ever-Glory has set up a specialized Quality Management and Supervision Group. Under its quality guideline of "99+(-1) equals 0," they have set out to prevent rejects and strictly control the manufacturing process, which in turn has boosted the quality and grade of their products. Ever-Glory attracts many customers from around the world and has expanded operations rapidly, due in part to this strong commitment to quality.
The deal with Abercrombie & Fitch, a popular brand among US college students, comes at a good time, as Ever-Glory has recently become a publicly traded company on the U.S. stock market. The manufacturing of such clothes will help them to further develop new clothing styles to fit U.S. trends.
"Manufacturing Abercrombie & Fitch's fashionable, immensely popular lines of clothing will be another step in the right direction for Ever-Glory, as we will continue to expand our reach in the U.S. market and further strengthen our expertise in establishing the best quality production possible," commented Edward Kang, President and CEO of Ever-Glory.
News of the new agreement should be welcomed by investors, as the company anticipates substantial revenue from the new production orders.
About Ever-Glory International Group
Ever-Glory International Group (OTC BB:EGLY.OB - News) is a U.S. publicly-traded company engaged in international garment manufacturing for well-known middle to high-grade casual, outer, and sportswear brands. The company's U.S. headquarters is based in Los Angeles, CA; although Ever-Glory also owns a full subsidiary company, Nanjing Goldenway Garments Co. Ltd. located in China. Ever-Glory has strategic marketing and logistics channels located in, Japan, Europe, and United States and has strategic business partners in countries and regions including China, Hong Kong, the U.S., and the U.K. The Company cooperates with well-respected garment retailer chains such as ITOYOKADO, UNIQLO, Debenhams, GAP, and ABERCROMBIE & FITCH (ANF), etc. in handling high and middle grade casual-wear and sportswear. The company entered into production and sale cooperation agreements with a number of internationally famous brands such as LEVI'S, GUESS (GES), OLDNAVY and others. The company employs about 700 people. At present, the market distribution is segmented as 35% in Japan, 50% in Europe and the 15% in United States.
For more information about Ever-Glory International Group, please visit: www.everglorygroup.com.
About Abercrombie & Fitch Co.:
Abercrombie & Fitch Co. (NYSE:ANF - News) was founded in 1892 and is headquartered in New Albany, Ohio. The Company is a leading specialty retailer encompassing four concepts - Abercrombie & Fitch, Abercrombie, Hollister Co., and RUEHL. The merchandise is sold in retail stores throughout the United States and through catalogs. As of April 1, 2006, it operated 850 stores in 49 states, the District of Columbia, and Canada. Its stores sell casual apparel, such as knit shirts, graphic t-shirts, jeans, woven shirts, and shorts; and personal care and other accessories for men, women, and kids under the Abercrombie & Fitch, abercrombie, Hollister, and RUEHL brands. The Company also operates e-commerce websites at:
http://www.abercrombie.com http://www.abercrombiekids.com http://www.hollisterco.com This press release contains certain "forward-looking statements," as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management's current expectations. Such factors are detailed from time to time in the Company's filings with the United States Securities and Exchange Commission and other regulatory authorities.
Contact: Contacts: Ever-Glory International Group Ms. Sarah Liu (626) 839-9116 info*everglorygroup.com http://www.everglorygroup.com
-------------------------------------------------------------------------------- Source: Ever-Glory International Group
pennystock31
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EGLY the 1.43 range is a great time to get in. Looking for more good things to happen soon.
Realm007
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Put this one on the radar for next week.
Realm007
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Volume high, Not sure if or when it will move but supposedly news and pr is on the way.
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