FGX International Holdings Limited, Q1 2009 Earnings Call Transcript

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2009-05-07 08:45:34.0

Tags: Point-of-sale, Class, Call Transcript, Earnings, Jefferies & Co., Fgx International Ltd., Seeking Alpha

Question-and-Answer Session

Operator

Thank you, sir. (Operator Instructions) We will take our first question from Mr. Doug Lane with Jeffries. Please go ahead sir.

Douglas Lane - Jefferies & Company

Yeah, hi, good morning, Alec and Anthony.

Alec Taylor

Hey Doug, how are you?

Douglas Lane - Jefferies & Company

And, Jack. Can you give us some sort of a feel for what you think the difference was between your shipments for readers, I mean ex Wal-Mart I guess it was up 4% where do you think the consumer uptick was given the destocking?

Alec Taylor

Well, I think if you look at it, go back and look at our performance over the counter, it probably had what I consider to be a needless performance at retail. I can't tell you any one class of trade was better than another even within classes and trade we had some customer that will if business was fairly robust it was below our plan.

From the consumer point of view I think the demand is certainly still there. Keep in mind, we came up Q1 last year, I think have increased over the we are in the 15% to 16% range and right now we are tracking relatively flat in the last year. We can speculate but we do not really our average price point has held up nearly well. And again this is uneven by customer and by class of trade.

I think the destocking has probably had some minor impact to a level. Somethings were delayed some shipments were less than we thought. We had to make some modular changes et cetera. But pretty uneven right with the POS from the consumers' point of view.

Douglas Lane - Jefferies & Company

I know Nielsen does interact the category how much insight do you have? How much POS data do you get from your retailers? What percentage do you think of your distribution you actually get POS data?

Anthony Di Paola

We probably get POS data for probably 90% of our customer right now.

Alec Taylor

We do not see the piece we does have. Doug, we think we are 60% plus of the category, so more or less focused the category. We think we are doing at probably better than others in the category, but we have a good visibility just reinforced what Jack says it's interesting to use you look at even, within class we have some account in the drug class are still up, high single low double-digit some other that are almost just pure flat year-over-year.

 

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