Home / Knowledge / News / Apparel/Garments / Net earnings nearly halve at Tailored Brands in Q2FY17
Net earnings nearly halve at Tailored Brands in Q2FY17
20
Sep '16
Courtesy: Tailor Brands
Courtesy: Tailor Brands
Net earnings for the second quarter ended July 30, 2016 at Tailored Brands nearly halved at $25.0 million as against net earnings of $47.8 million in the fiscal ago period, while diluted EPS was $0.51 compared to diluted EPS of $0.98 in the prior fiscal's second quarter. However, net sales declined slower by 1.1 per cent year over year to $909.7 million.

For the second quarter of fiscal 2017, gross profit amounted to $410.3 million, down 2.0 per cent; driven down by the drop in retail segment net sales.

As a percent of sales, gross margin fell 40 basis points to 45.1 per cent of net sales, primarily due to the impact of clearance activity as it exited the factory/outlet business.

Operating income for the reporting quarter totaled $59.6 million vis-à-vis operating income of $98.1 million in the second quarter of fiscal 2016.

Net interest expense for the quarter under reviews was higher at $25.8 million versus $26.5 million in the comparable period of earlier fiscal, while the effective tax rate 25.9 per cent as against 33.3 per cent. (AR)

Fibre2Fashion News Desk – India

Must ReadView All

Courtesy: Li & Fung

Textiles | On 24th Mar 2017

Li & Fung forms new supply chain partnership with PVH Corp

Li & Fung Limited, the world's leader in consumer goods design,...

Courtesy: Alizilla

Apparel/Garments | On 24th Mar 2017

Alibaba's eWTP finds first overseas base in Malaysia

In a step towards using the internet to bring small businesses around ...

Textiles | On 24th Mar 2017

BJMC to produce cotton-jute blended denim fabrics

To meet demand from the market, Bangladesh Jute Mills Corporation...

Interviews View All

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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:
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search