Home / Knowledge / News / Apparel/Garments / Frederick's of Hollywood Q2'FY14 net sales dip 3.1%
Frederick's of Hollywood Q2'FY14 net sales dip 3.1%
29
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. 
 
Click here to view full results.

Frederick's of Hollywood Group


Must ReadView All

Apparel/Garments | On 27th Jun 2017

Vietnam to build fashion, textile, trading centres

Vietnam's Ho Chi Minh City will build large centres for designing...

Textiles | On 27th Jun 2017

Barcelona’s Unitin develops recycled Indigo yarns

Unitin, a trademark of Industrias Morera SA and a leading textile...

Information Technology | On 27th Jun 2017

ThreadSol to bring fabric solutions to Thailand

ThreadSol, an enterprise material management provider for the sewn...

Interviews View All

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Mohammad Hassan
Biax Fiberfilm

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

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Jay Ramrakhiani
Occasions Elegance Wear

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

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

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

news category


Related Categories:
July 2017

July 2017

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

SUBSCRIBE


Browse Our Archives

GO


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