Home / Knowledge / News / Apparel/Garments / Frederick's of Hollywood posts 6.9% sales dip in FY'12
Frederick's of Hollywood posts 6.9% sales dip in FY'12
Oct '12
Frederick's of Hollywood Group Inc. announced the financial results for its fiscal 2012 fourth quarter and year ended July 28, 2012.

"We have made significant adjustments to our operations over the past few years that have led to improvements in our overall business model.  While there is no question that executing our turnaround strategy has been challenging, we have steadily reduced operating losses and believe that we are on a path toward achieving long-term profitability," stated Thomas Lynch, the Company's Chairman and Chief Executive Officer.

"We are focused on continuing to strategically utilize our resources to drive more profitable sales through disciplined expense management, proper inventory levels and an innovative promotional strategy.  We believe that executing our fiscal 2013 operating initiatives also will improve our business. 

“These initiatives include expanding our product categories, augmenting our product mix to include more branded products, offering a broader assortment of merchandise at varying price points, and implementing a new marketing strategy that utilizes a 'brandzine,' or branded magazine for mailings, and the latest digital marketing tools online such as digital display advertising, email retargeting and increased search marketing," concluded Mr. Lynch.

The Company also announced that it will no longer report monthly comparable store sales after reporting them for the past year and will return to just reporting its quarterly financial results.  "We believe that returning to reporting our comparable store sales quarterly will enable investors to focus more on our longer-term overall financial performance," stated Mr. Lynch.

Fiscal Year Ended July 28, 2012 Compared to Fiscal Year Ended July 30, 2011:

  • Net loss applicable to common shareholders was $6.5 million, or $(0.17) per diluted share, compared to a net loss of $12.1 million, or $(0.31) per diluted share.
  • Net sales decreased 6.9% to $ 111.4 million from $119.6 million.
    • Comparable store sales increased 0.5%.
    • Total store sales decreased 2.0% to $70.8 million.
    • Direct sales decreased 9.7% to $35.8 million.
    • Other revenue decreased 33.3% to $4.7 million.
  • Gross margin, as a percentage of net sales, increased to 37.4% from 35.9%, which was primarily attributable to a $4.0 million increase in vendor allowances for the year ended July 28, 2012 as compared to the year ended July 30, 2011.
  • Selling, general and administrative expenses decreased by 8.0% to $45.8 million, or 41.1% of sales, from $49.8 million or 41.6% of sales.

Must ReadView All

Textiles | On 26th May 2017

Lenzing unleashes new eco-friendly fibre

There's a new eco-friendly fibre on the anvil—Austrian speciality...

Apparel/Garments | On 26th May 2017

Benetton seeks approval for FDI in single-brand retail

Global fashion brand Benetton Group, has sought Indian government's...

Apparel/Garments | On 26th May 2017

Walmart to conduct GST workshops for SME suppliers

With the objective of supporting its small and medium-sized (SME)...

Interviews View All

Poojaa Kumar Deepak

Zeven's performance sports apparel is designed for the Indian body type,...

Kaizad Hansotia

Competition is the best thing that can happen to a startup

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Ashok Desai
Bombay Textile Research Association

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

Giorgio Mantovani
Corman S.p.A

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

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Silvia Venturini Fendi
Fendi s.r.l

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

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

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


Letter To Editor

(Max. 8000 char.)

Search Companies


news category

Related Categories:
May 2017

May 2017

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


Browse Our Archives


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