Westaff Wins Paris Accessories Account
WALNUT CREEK, Calif.--(BUSINESS WIRE)--Westaff, Inc. (NASDAQ:WSTF), a leading provider of staffing services, announced today that it has established a business relationship with Paris Accessories. Paris Accessories is a privately-held company that distributes their products to large department store chains and food and drug stores such as Macy's, Nordstrom, Kohl's, Gottschalks, Walmart and Longs Drugs. Paris Accessories specializes in the manufacturing and distribution of men's and women's accessories, primarily in the production of products such as socks, shirts, t-shirts, hats, nylons and scarves. Westaff will now be providing a large volume of temporary workers for their Los Angeles distribution center, which is located in the city of Commerce and distributes products nation-wide.
"We are very excited to have the opportunity to become Paris Accessories' staffing agency of choice," commented Westaff SVP of Field Operations Kristi Kennedy. "This is another positive step in our growth and transformation of Westaff, and we are pleased to be able to offer our services and partnership with Paris Accessories."
Marie Covarrubias, the Office Manager and Human Resource Specialist for Paris Accessories, commented, "I have worked with Westaff in the past in a different capacity, and have been very pleased with the level and quality of service received. I feel quite confident that Paris Accessories will be able to forge a long-lasting relationship which will grow over time. We are excited to have Westaff fill positions immediately, and plan to continue using them for a long time to come."
Westaff provides staffing services and employment opportunities for businesses in global markets. Westaff annually employs in excess of 125,000 people and services more than 20,000 client accounts from 204 offices located throughout the United States, Australia and New Zealand. For more information, please visit the company Web site at www.westaff.com.
This press release contains forward-looking statements within the meaning of the U.S. securities laws. Forward-looking statements in this release are generally identified by words such as "expects," "believes," "will," "should" and similar expressions that are intended to identify forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement. Forward-looking statements contained herein include, but are not limited to, statements regarding Westaff's expectation of its continuing business relationship with Paris Accessories. The forward-looking statements contained herein involve a number of assumptions, risks and uncertainties that could cause actual results to differ materially from those expressed or implied by these forward-looking statements. Many of these risks and uncertainties cannot be controlled by the Company. These risks and uncertainties include, but are not limited to: an intensely priced competitive market; our ability to maintain our customer relationships; our significant working capital needs and our ability to borrow to meet those needs; our ability to borrow under our credit facilities and our compliance with their debt covenants; variability of the amount of collateral that we are required to maintain to support our workers' compensation obligation; the sufficiency of our workers' compensation claims reserve; variability of employee-related costs, including workers' compensation liabilities; possible adverse effects of fluctuations in the general economy; our ability to collect on our accounts receivable; risks related to franchise agent operations; risks related to international operations and fluctuating exchange rates; reliance on executive management and key personnel; our ability to attract and retain the services of qualified temporary personnel; the ability of our customers to terminate our service agreement on short notice; variability of the cost of unemployment insurance for our temporary employees; any difficulty with our information technology system; government regulation; potential exposure to employment-related claims; the volatility of the Company's stock price; increased regulatory compliance costs; and litigation and other claims. Additional information concerning the risks and uncertainties listed above, and other factors you may wish to consider, is contained in the Company's filings with the Securities and Exchange Commission, including the Company's most recent Annual Report on Form 10-K for the year ended November 3, 2007 and Quarterly Report on Form 10-Q for the quarterly period ended April 19, 2008.
Forward-looking statements are based on the beliefs and assumptions of the Company's management and on currently available information. The Company undertakes no responsibility to publicly update or revise any forward-looking statement except as required by applicable laws and regulations.
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