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

Textiles | On 25th Aug 2016

GST rate of 18% should be ideal: CII President

Goods and Services Tax (GST) rate of 18 per cent would be ideal, and...

Courtesy: Sybly Industries

Textiles | On 25th Aug 2016

Sybly starts manufacturing recycled polyester yarn

Polyester yarn manufacturer Sybly Industries Limited has started...

Textiles | On 25th Aug 2016

Prepare development strategy to 2025: VITAS tells govt

The Vietnam Textile and Garment Association (VITAS) has urged the...

Interviews View All

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Mark Paterson
Technical Absorbents Ltd

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

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Steve Cole
Xerium Technologies

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

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Silvia Venturini Fendi
Fendi s.r.l

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

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
August 2016

F2F Magazine

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search