Home / Knowledge / News / Apparel/Garments / Apparel sales rise 3.4% at Ennis in nine months to Nov 30
Apparel sales rise 3.4% at Ennis in nine months to Nov 30
24
Dec '13
Ennis, Inc. reported financial results for the three and six months ended November 30, 2013.

Highlights for the quarter include:

- Consolidated gross profit margin increased 400 basis points for the quarter and 430 basis points for the period.
- Apparel gross profit margin increased 650 basis points for the quarter and 970 basis points for the period.
- Print gross profit margin increased 210 basis points for the quarter and 110 basis points for the period.
- Diluted EPS increased 50.0% to $0.36 per share for the quarter and 55.9% to $1.06 per share for the period.

Financial Overview

The Company’s consolidated net sales for the quarter were $136.6 million compared to $129.0 million for the same quarter last year. Print sales were up 10.1% on a comparable quarter basis, from $81.5 million to $89.7 million. Apparel sales decreased 1.1% for the comparable quarter, from $47.4 million to $46.9 million.

Although, apparel unit sales were up 5.5% for the quarter, average selling price was down 6.6%. Consolidated gross profit margin (“margin”) during the quarter increased 400 basis points over last year’s comparable quarter from 23.7% to 27.7%. On a quarter comparison basis, print margin increased 210 basis points, from 28.7% to 30.8%, while apparel margin increased 650 basis points, from 15.2% to 21.7%.

Apparel margin continued to improve on a comparable basis due to lower input costs and higher production levels. As a result, net earnings increased from $6.2 million, or 4.8% of net sales, for the quarter ended November 30, 2012 to $9.3 million, or 6.8% of net sales, for the quarter ended November 30, 2013. Diluted earnings per share increased 50.0% from $0.24 for the 2012 quarter to $0.36 for the 2013 quarter.

For the nine month period, consolidated net sales increased from $409.9 million to $410.3 million, or 0.1% from the same period last year. Print sales for the nine month period were $250.1 million, compared to $254.9 million for the same period last year, a decrease of $4.8 million, or 1.9%.

Apparel sales for the nine month period were $160.2 million, compared to $155.0 million for the same period last year, or an increase of $5.2 million or 3.4%. Apparel unit sales increased 9.8% for the period, while average selling price per unit decreased 6.4%. The consolidated margin increased from 22.6% to 26.9% for the nine months ended November 30, 2012 and 2013, respectively.

Print margin increased during the period from 29.1% to 30.2%, as a result of the elimination of duplicative costs associated with the integration of acquisitions. Apparel margin increased 970 basis points from 12.0% to 21.7% for the comparable nine month period, due to lower input costs and increased production levels.

Net earnings increased from $17.6 million, or 4.3% of net sales, for the nine months ended November 30, 2012 to $27.7 million, or 6.7% of net sales, for the nine months ended November 30, 2013. Diluted earnings per share increased 55.9% from $0.68 to $1.06 for the nine months ended November 30, 2012 and 2013, respectively.

During the third quarter, the Company generated $19.0 million in EBITDA (a non-GAAP financial measure calculated as net earnings before interest, taxes, depreciation, and amortization) compared to $13.2 million for the comparable quarter last year. For the nine month period ended November 30, 2013, the Company generated $54.9 million of EBITDA compared to $38.9 million for the comparable period last year.

Ennis

Must ReadView All

Courtesy: BGMEA

Apparel/Garments | On 27th Feb 2017

'Brands & buyers should help Bangladeshi factory owners'

Brands and buyers should come forward to help factory owners in...

Apparel/Garments | On 27th Feb 2017

Myanmar sets up new committee to revise minimum wage

The Government of Myanmar has set up a new committee, replacing an...

Courtesy: PT Indonesia Taroko Textile

Textiles | On 27th Feb 2017

Taiwan's Lealea to buy Tarako textile plant in Indonesia

Taiwan based textile manufacturer Lealea Enterprise Company, one of...

Interviews View All

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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
February 2017

February 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