Home / Knowledge / News / Apparel/Garments / Frederick's of Hollywood Group Q4 FY'13 sales down 19%
Frederick's of Hollywood Group Q4 FY'13 sales down 19%
28
Oct '13
Frederick's of Hollywood Group Inc. announced the financial results for its fiscal 2013 fourth quarter and year ended July 27, 2013.

"The financial results for fiscal 2013 reflect the previous financial challenges we have faced, which impacted our ability to fully deliver on our merchandising strategy and overall brand strategy. However, we believe that these challenges can be overcome given the ongoing support we've received from certain vendors, partners and our lenders, and their commitment to the Frederick's of Hollywood brand," stated Thomas Lynch, the Company's Chairman and Chief Executive Officer.

Fiscal 2013 Fourth Quarter Compared to Fiscal 2012 Fourth Quarter:

-Net loss applicable to common shareholders was $7.6 million or $(0.19) per basic and diluted share, compared with a net loss of $4.0 million or $(0.10) per basic and diluted share.
-Net sales decreased 19.0% to $16.5 million from $20.3 million.
-Comparable store sales decreased 12.6%.
-Total store sales decreased 16.0% to $11.4 million.
-Direct sales (e-commerce and catalog) decreased 22.0% to $4.8 million.
-Other revenue, consisting of shipping revenue, commissions earned on direct sell-through programs, breakage on gift cards and product sales to the Company's licensing partner in the Middle East, decreased 57.9% to $0.2 million.
-Gross margin, as a percentage of net sales, decreased to 24.1% from 32.4%.
-Selling, general and administrative expenses decreased to $9.1 million, or 55.3% of sales, from $9.5 million or 46.7% of sales.

Fiscal Year Ended July 27, 2013 Compared with Fiscal Year Ended July 28, 2012:

-Net loss applicable to common shareholders was $23.5 million, or $(0.60) per basic and diluted share, compared with a net loss of $6.5 million, or $(0.17) per basic and diluted share.
-Net sales decreased 22.3% to $86.5 million from $111.4 million.
-Comparable store sales decreased 16.7%.
-Total store sales decreased 20.1% to $56.5 million.
-Direct sales (e-commerce and catalog) decreased 23.5% to $27.4 million.
-Other revenue decreased 46.5% to $2.5 million.
-Gross margin, as a percentage of net sales, decreased to 29.1% from 37.4%
-Selling, general and administrative expenses decreased to $43.0 million, or 49.7% of sales, from $45.8 million or 41.1% of sales.

Frederick's of Hollywood


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