NEXT designs and markets licensed, branded, and private line promotional items and sportswear. The company's private line comprises the American Biker, American Wildlife, Campus Traditions USA, Class Threads, Ragtops Sportswear, and Cadre Athletic brands. The company's licensing agreements have included automakers Chevy, Dodge, and Ford, as well as Chuck E. Cheese and GRITS (Girls Raised In The South). NEXT distributes its products through mass merchandisers, warehouse clubs, department stores, sporting goods chains, college bookshops, and automotive dealers. Customers include Wal-Mart, Sears, Dillard's, Sam's Club, and Dollar General. It also sells through its own brands' websites.
NEXT is looking to sports fans to expand its licensed apparel business. The company hopes to add both amateur and professional sports teams to its roster of clients and roll out team-logoed clothing and headwear. This would complement Cadre Athletic's and Campus Traditions' collegiate-branded sportswear operations, which maintain agreements with most major colleges and universities in the US. NEXT is also boosting marketing of its proprietary brands and non-licensed casual apparel featuring screen-printed and embroidered designs. The moves are intended to boost NEXT's revenues, which have fallen in recent years as consumers curtailed spending on discretionary items like apparel.
In August 2010, the company sold off its marketing subsidiary, Next Marketing, to T-Shirt International, based in West Virginia. The deal included inventory, intangible assets such as trademarks, contracts, licenses, and other assets. NEXT used the proceeds from the sale to pay off debt. Soon after, CFO David Cole stepped down and president and CEO Robert Budd added the chief financial function to his role. Director Dan Cooke (also former CEO and chairman of NEXT) and director Charles Reed each own about 20% of stock. – less