Home / Knowledge / News / Apparel/Garments / Joe's Jeans posts 8% rise in Q4 FY'11 sales
Joe's Jeans posts 8% rise in Q4 FY'11 sales
29
Feb '12
Joe's Jeans Inc. announced financial results for the fourth quarter ended November 30, 2011.

Highlights:
- Consolidated fourth quarter net sales increased 8% to $25.4 million;
- Sales from our retail stores increased 44%;
- Retail same store sales increased 12%;
- Sales from the Company's retail stores represented 23% of overall net
- Sales for the fourth quarter of fiscal 2011; and
- Sales from our wholesale division were flat.

For the fourth quarter ended November 30, 2011, overall net sales were $25.4 million compared to $23.6 million from the prior year comparative period, or an 8% increase.

Our overall gross profit for the quarter increased to $11.7 million from $11.5 million in the prior year comparative period, or a 1% increase.

Our overall gross margin in the fourth quarter of fiscal 2011 was 46% compared to 49% in the prior year fourth quarter. Our fourth quarter of fiscal 2011 gross margin was lower due to lower gross margins in our wholesale business.

Operating expense in the fourth quarter of fiscal 2011 was $11.8 million compared to $9.6 million a year ago. Operating expenses increased primarily as a result of a $1.8 million increase in advertising and professional fees.

Marc Crossman, President and Chief Executive Officer, commented, "Our net income was impacted by the advertising and related expenses associated with the launch of our '55 Colors' campaign. As evidenced by our sales, the campaign and the associated product are having a very positive impact on our business."

Crossman continued, "With a majority of the advertising commitments already underway, we expect advertising costs to decrease in future quarters." We incurred a net loss of $268,000 compared to operating income of $817,000 in the prior year comparative period and fully diluted loss per share of $0.00 for the fourth quarter of fiscal 2011 compared to earnings per share of $0.01 in same period a year ago.

Joe's Jeans


Must ReadView All

US merchandise trade with India, 2012–16; Courtesy: USITC

Textiles | On 27th Jul 2017

India becomes US’ 9th largest trading partner in 2016

In 2016, India became the United States’ 9th-largest single-country...

Textiles | On 27th Jul 2017

GST will lead to further increase of MMF prices

The Goods & Services Tax (GST) rolled out on July 1, 2017 is not...

Textiles | On 27th Jul 2017

Global yarn production improved 30% q-o-q in Q1: ITMF

In the first quarter of 2017, global yarn production rose by almost...

Interviews View All

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Madhu Jain
Madhu Jain

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

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

July 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


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



X