Home / Knowledge / News / Apparel/Garments / Joe's Jeans retail store sales rise 23% in Q1 FY'13
Joe's Jeans retail store sales rise 23% in Q1 FY'13
16
Apr '13
Joe’s Jeans Inc. announced financial results for the first quarter ended February 28, 2013.

Highlights were:
- Consolidated first quarter net sales increased 13% to $29.4 million;
- Wholesale net sales increased 11%;
- Retail store net sales increased 23%; and
- Operating income increased 30%, excluding the one-time charge for contingent consideration buy-out expense.

For the first quarter of fiscal 2013, overall net sales were $29.4 million compared to $26.0 million from the prior year comparative period, or a 13% increase. Our overall gross profit for the quarter increased to $14.3 million from $13.1 million in the prior year comparative period, or a 9% increase.

Our overall gross margin in the first quarter of fiscal 2013 was 49% compared to 50% in the prior year period. Operating expense in the first quarter of fiscal 2013 was $20.7 million compared to $11.3 million in the prior year period.

Excluding the impact of a one-time charge of $8.7 million that represents the net present value of the contingent consideration buy-out expense, operating expenses would have been $12.0 million.

Also excluding this charge, our operating income would have increased to $2.3 million for the quarter and our fully diluted earnings per share would have been $0.03 per share instead of a loss of $0.10 per share for the first quarter of fiscal 2013.

Marc Crossman, President and Chief Executive Officer, commented, “Our first quarter of fiscal 2013 continued another strong quarter of sales and income increases.” Crossman continued, “With that said, both our wholesale and retail segments posted healthy double digit growth for the quarter which translated into strong consolidated revenue and earnings growth for us, excluding the one-time charge.”

Joe's Jeans


Must ReadView All

India’s e-commerce policy framework in 6 months: official

Apparel/Garments | On 26th Apr 2018

India’s e-commerce policy framework in 6 months: official

In the next six months, India will come out with a framework for a...

MSME secretary Arun Kumar Panda presenting 'friend of India' plaque to a delegate from Malawi at the first International SME Convention. Courtesy: PIB

Apparel/Garments | On 26th Apr 2018

India to set up Digital Trade Desk for SME collaboration

India’s ministry of micro, small and medium enterprises (MSMEs) has...

Courtesy: Kai Pilger from Pexels

Apparel/Garments | On 26th Apr 2018

FOBAP in the Philippines trying for garments sector revival

The Foreign Buyers Association of the Philippines (FOBAP), a body...

Interviews View All

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Marcel Alberts
Eurofibers

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

Iago Castro Asensio
RCfil Distribuciones S.L.

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

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Sonam & Paras Modi
SVA

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

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

Leave your Comments


April 2018

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

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

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

Yes No

Active Poll

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

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

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

Yes No

Active Poll

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

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

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

Active Poll

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

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


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