Home / Knowledge / News / Apparel/Garments / Weak sales dampen Erarat Lifestyle's Q3 profit
Weak sales dampen Erarat Lifestyle's Q3 profit
22
Jan '14
Amidst a subdued domestic economic scenario, Chinese apparel company Eratat Lifestyle Limited witnessed a dip in sales revenue and profitability in the third quarter of 2013.
 
The company, which is engaged in the design and distribution of lifestyle fashion apparel and fashion footwear, reported a 5 per cent dip in revenue at RMB 314 million in Q3 FY13 from RMB 330 million the same period a year ago amidst muted apparel sales and a decline in footwear sales.
 
Similarly, in the nine-months ended December 31, 2013 sales revenue dipped 1.2 per cent to RMB 738 million from RMB 746 million in the year ago period despite an increase in apparel sales.
 
Sluggish consumer spending amidst inflationary pressures and a slowdown in the Chinese economy has weakened appetite for discretionary spending, weighing on the Chinese apparels industry.
 
Revenue from apparels climbed by a muted 0.7 per cent to RMB 241.7 million in the three months ended December 31, 2013 from the same period a year ago. 
 
Sales from the apparel business, which has now become the prime focus of Eratat Lifestyle Limited, accounted for 77 per cent of the company’s total revenue in Q3 FY 2013, up from 72.6 per cent in the same period a year ago.
 
The company posted a 31.3 per cent dip in profit after tax at RMB 38.8 million in Q3 FY 2013 from RMB 56.4 million in the same period a year ago as revenue declined.
 
The company, which was formerly known as China Eratat Sports Fashion Limited distributes lifestyle fashion apparel under its well-established proprietary brand, “ERATAT”.
 

Fibre2fashion News Desk - India


Must ReadView All

Union Minister for finance Arun Jaitley chairing the 25th GST Council meeting, flanked by minister of state for finance Shiv Pratap Shukla (right) and finance secretary Dr Hasmukh Adhia. Courtesy: PIB

Textiles | On 20th Jan 2018

GST rate on velvet fabric reduced to 5%

The 25th Goods and Services Tax (GST) Council meeting, held under the ...

RIL petrochemicals’ revenue grows 47.6% in Q3 FY18

Textiles | On 20th Jan 2018

RIL petrochemicals’ revenue grows 47.6% in Q3 FY18

The revenue from the petrochemicals segment at Reliance Industries...

Courtesy: Cotton USA

Textiles | On 20th Jan 2018

US cotton bodies pledge to support CCI activities

Ten US cotton organisations have pledged industry contributions in...

Interviews View All

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Mark Paterson
Technical Absorbents Ltd

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

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Madhu Jain
Madhu Jain

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

Robert Brunner
Devereux

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

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

January 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
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

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
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

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
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

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
8.2%
Skip
9.3%

Total Votes: 97


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