Home / Knowledge / News / Apparel/Garments / Net earnings nearly halve at Tailored Brands in Q2FY17
Net earnings nearly halve at Tailored Brands in Q2FY17
09
Sep '16
For the three months ended July 30, 2016, net earnings at apparel marketer Tailored Brands nearly halved to $25 million compared to net earnings of $47.8 million in the earlier fiscal's same period. Total gross margin amounted to $410.3 million, down $8.4 million, or 2.0 per cent, due primarily to the decrease in retail segment net sales. 

Diluted EPS at the company, which has brands like Men's Warehouse, Jos. A. Bank and Moores in its portfolio, was down to $0.51 as against $0.98 in the prior fiscal's second quarter.

Total net sales declined marginally by 1.1 per cent year on year or $10.4 million, to $909.7 million in the second quarter of fiscal 2017. Of this, retail segment net sales decreased 3.4 per cent, while corporate apparel sales surged 30.0 per cent over the fiscal ago quarter.

As a percent of sales, total gross margin dropped 40 basis points to 45.1 per cent of net sales, mainly from the impact of clearance activity as Tailored Brands exited the factory/outlet business.

Operating income for the quarter under review stood at $59.6 million, also down from operating income of $98.1 million in the second quarter of fiscal 2016. (AR)

Fibre2Fashion News Desk – India

Must ReadView All

Textiles | On 29th May 2017

Special package creates 7,50,000 jobs in garment sector

The special garment package of Rs 6,000 crore that was introduced by...

Md Siddiqur Rahman, president, BGMEA, addressing a press conference with other dignitaries. Courtesy: BGMEA

Apparel/Garments | On 29th May 2017

BGMEA asks govt for 5% incentive for 2 years in Budget

The Bangladesh Garment Manufacturers and Exporters Association...

Textiles | On 29th May 2017

Tintex, Bruckner bring new effects to knitted fabric

The textile company Tintex has joined hands with the system supplier...

Interviews View All

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search