Darn Tough Vermont – Q3 2012 Results Exceed Projections, Strongest in Company History
For Immediate Release
PMG Public Relations
Phone: (802) 863-3929 ext: 104
NORTHFIELD, VT, Oct 22, 2012 -
Darn Tough Vermont, American manufacturer of the only premium, performance socks with an unconditional lifetime guarantee, reports that Q3 2012 sales and profitability were the best ever in its, and parent Cabot Hosiery’s, 34-year history. Year to date Q3 topline growth was up 54% versus the corresponding period in 2011, a highly successful year that itself saw revenue up 82% over 2010. The month of September marked the company’s largest ever shipping month as it heads into its busiest season.
“These results are a validation of our strategy, the skill and dedication of our employees, and the fact that it IS possible to develop and manufacture a world-class product in the USA, with top notch American ingenuity and labor. We’ve been aggressively expanding our distribution both nationally and internationally, partnered with retailers that have extensive reach, redesigned our packaging, diversified our markets, and invested in our infrastructure here at the Vermont mill,” said Ric Cabot, founder and president of Darn Tough Vermont. “We reinvested heavily in our company in 2011 and 2012, and the results bear out our strategy. We are on track to close out 2012 with exceptional performance on both the top and bottom lines, which will facilitate the implementation of a number of important strategies that we have in the works for 2013.”
The company that aims to bring the “Sock Capital of the World” title back to the U.S. says the relentless pursuit of three sock qualities – comfort, fit and durability – are the foundation of its success. But it takes more than just good intentions to produce the best product in the category, says Cabot. “It’s easy to make a sock, as evidenced by the number of companies doing it all over the world. It’s even easier to have someone make it for you, then stamp your logo on it and market it. But making a great sock and standing behind it for life, now that’s tough, and something we wouldn’t be able to do if we weren’t doing it ourselves here in Vermont.”
A number of recent changes have contributed to the company’s growth. An ever-expanding women’s lifestyle line has helped open new accounts and grow others, the addition of True-Seamless™ technology to all Ultra Light and the newly released Light Cushion socks has reinforced the brand’s position as the leader in performance socks, and contemporary new packaging has given the product extra pop on the shelf. That combined with a veteran manufacturing team and meticulous attention to detail allow Darn Tough to consistently produce its best-in-class product.
“Making every pair of socks in-house not only affords us the utmost quality control, but it makes us nimble. We can adjust our inline manufacturing processes in real time. That’s an advantage you don’t have when someone is making your socks for you, inside or outside of the U.S.” said Cabot.
For more information about Darn Tough Vermont socks, please visit: www.darntough.com