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

Textiles | On 25th Mar 2017

GST to positively impact retail value chain: CBRE

The implementation of the Goods and Services Tax (GST) bill in India...

Textiles | On 25th Mar 2017

MEGlobal to build first ever US MEG plant

Monoethylene glycol (MEG) producer MEGlobal plans to construct a new...

Courtesy: Ulster Carpet

Textiles | On 25th Mar 2017

Ulster Carpets acquires Griffith Textile Machines

Northern Ireland based manufacturer of carpets, Ulster Carpets said...

Interviews View All

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Marcel Alberts
Eurofibers

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

Suresh Patel
Sidwin Fabric

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

Karan Arora
Karan Arora

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

Tony Ward
Tony Ward

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

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

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
March 2017

March 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