Enesco (NYSE:ENC)
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Enesco Group, Inc. (NYSE:ENC), a leader in the giftware,
and home and garden decor industries, today filed a motion for
preliminary injunction against Department 56, Inc. based on Enesco's
Amended Complaint in the United States District Court, Northern
District of Illinois, Eastern Division. Enesco seeks preliminary
injunctive relief relating to Enesco's claim that Department 56 has
been unfairly competing through allegedly false and misleading
statements and conduct.
The amended complaint alleges that the actions of Department 56
violate federal unfair competition laws, as well as the Illinois
Uniform Deceptive Trade Practices Act and the Illinois Consumer Fraud
and Deceptive Business Practices Act. The motion for preliminary
injunction seeks an order preliminarily prohibiting Department 56 from
engaging in conduct that constitutes unfair competition.
Enesco is vigorously pursuing adherence to its current license
agreement, and does not seek to terminate its license agreement with
Jim Shore Designs in the amended complaint.
About Enesco Group, Inc.
Enesco Group, Inc. is a world leader in the giftware, and home and
garden decor industries. Serving more than 30,000 customers globally,
Enesco distributes products to a wide variety of specialty card and
gift retailers, home decor boutiques as well as mass-market chains and
direct mail retailers. Internationally, Enesco serves markets
operating in Europe, Canada, Australia, Mexico, and Asia. With
subsidiaries located in Europe and Canada, and a business unit in Hong
Kong, Enesco's international distribution network is a leader in the
industry. The Company's product lines include some of the world's most
recognizable brands, including Heartwood Creek, Walt Disney Company,
Walt Disney Classics Collection, Jim Shore, Pooh & Friends,
Nickelodeon, Bratz, Halcyon Days, Lilliput Lane and Border Fine Arts,
among others. Further information is available on the Company's web
site at www.enesco.com.
This press release contains forward-looking statements, which
reflect management's current assumptions and beliefs and are based on
information currently available to management. The Company has tried
to identify such forward-looking statements by use of such words as
"expects," "intends," "anticipates," "could," "estimates," "plans,"
and "believes," and similar expressions, but these words are not the
exclusive means of identifying such statements. Such statements are
subject to various risks, uncertainties and other factors, which could
cause actual results to vary materially from those anticipated,
estimated, expected or projected. Important factors that may cause
actual future events or results to differ materially and adversely
from those described in the forward-looking statements include, but
are not limited to: the Company's success in developing new products
and consumer reaction to the Company's new products; the Company's
ability to secure, maintain and renew popular licenses, particularly
our Cherished Teddies, Heartwood Creek and Disney licenses; the
Company's ability to grow revenues in mass and niche market channels;
the Company's ability to comply with covenants contained in its credit
facility; the Company's ability to obtain a new global senior credit
facility; the Company's ability to effectively stablize the legacy
information system; changes in general economic conditions, as well as
specific market conditions; fluctuations in demand for our products;
manufacturing lead times; the timing of orders and shipments and our
ability to predict customer demands; inventory levels and purchase
commitments exceeding requirements based upon incorrect forecasts;
collection of accounts receivable; changes in the regulations and
procedures affecting the importation of goods into the United States;
changes in foreign exchange rates; price and product competition in
the giftware industry; variations in sales channels, product costs or
mix of products sold; and, possible future terrorist attacks,
epidemics, or acts of war. In addition, the Company operates in a
continually changing business environment and does not intend to
update or revise the forward-looking statements contained herein,
which speak only as of the date hereof. Additional information
regarding forward-looking statement risk factors is contained in the
Company's reports and filings with the Securities and Exchange
Commission. In light of these risks and uncertainties, the
forward-looking statements contained herein may not occur and actual
results could differ materially from those set forth herein.
Accordingly, you should not rely on these forward-looking statements
as a prediction of actual future results.