Home / Knowledge / News / Apparel/Garments / Frederick's of Hollywood Q2 FY'14 sales disappoint
Frederick's of Hollywood Q2 FY'14 sales disappoint
12
Mar '14
Frederick's of Hollywood Group Inc. announced the financial results for its second quarter of fiscal 2014.
 
"We are moving ahead with our strategy to maximize higher performing retail locations, which will allow us to reduce overall costs and effectively utilize limited resources. Over the past three months, we have closed 15 underperforming stores and one additional store at the end of its lease.  This activity will continue into April, as we plan to close an additional two stores," stated Thomas Lynch, the Company's Chairman and Chief Executive Officer.
 
Fiscal 2014 Second Quarter Compared to Fiscal 2013 Second Quarter:
-Net loss applicable to common shareholders was $5.1 million or $0.13 per basic and diluted share, compared with a net loss of $10.0 million or $0.26 per basic and diluted share. 
-Net sales decreased 3.1% to $23.5 million from $24.3 million.
-Direct sales (e-commerce and catalog) increased 9.7% to $8.9 million
-Comparable store sales decreased 4.1%
-Total store sales decreased 8.0% to $14.2 million
-Other revenue decreased by $0.3 million, or 45.9%. The decrease is primarily attributable to a decrease in shipping revenue due to an increase in online promotional shipping offers to stimulate retail sales and compete more effectively
-Gross margin, as a percentage of net sales, was 27.0% as compared to 24.1%.
-Selling, general and administrative expenses decreased to $9.3 million, or 39.4% of sales, from $13.7 million, or 56.4% of sales.
 
Fiscal Six Months Ended January 25, 2014 Compared to Fiscal Six Months Ended January 26, 2013:
-Net loss applicable to common shareholders was $12.8 million or $0.33 per basic and diluted share, compared with a net loss of $15.2 million or $0.39 per basic and diluted share. 
-Net sales decreased 7.4% to $43.3 million from $46.7 million.
-Direct sales (e-commerce and catalog) increased 5.4% to $15.4 million
Comparable store sales decreased 7.7%
-Total store sales decreased 11.5% to $27.1 million
-Other revenue decreased by $0.7 million, or 50.1%. The decrease is primarily attributable to a decrease in shipping revenue due to an increase in online promotional shipping offers to stimulate retail sales and compete more effectively.
-Gross margin, as a percentage of net sales, was 24.5% as compared to 25.5%.
-Selling, general and administrative expenses decreased to $19.1 million, or 44.2% of sales, from $23.8 million, or 50.9% of sales.

Frederick's of Hollywood Group

Must ReadView All

Courtesy: Delta Apparel

Apparel/Garments | On 31st Aug 2016

Delta Apparel acquires clothing brand Coast

Delta Apparel said it has bought a majority of assets in clothing...

Textiles | On 31st Aug 2016

Trützschler showing new technologies at ITMA ASIA

German textile machinery producer Trützschler will be showing new and ...

Courtesy: Textile Asia

Textiles | On 31st Aug 2016

$350mn worth of deals struck at Textile Asia fair in

The 16th International Textile Asia Exhibition in Pakistan ended with ...

Interviews View All

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Marcel Alberts
Eurofibers

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

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

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