Home / Knowledge / News / Apparel/Garments / Ever-Glory sales surge 31.6% to $368.1mn in 2013
Ever-Glory sales surge 31.6% to $368.1mn in 2013
29
Apr '14
Ever-Glory International Group, Inc., a leading apparel supply chain manager and retailer based in China, reported its financial results for its fiscal year ended December 31, 2013.
 
Total sales for the year ended December 31, 2013 were $368.1 million, an increase of 31.6% from the year ended December 31, 2012. This increase was primarily attributable to a 74.7% increased sales in retail business as well as a 4.3% increased sales in wholesale business.
 
In 2013, retail sales from LA GO GO, the Company's branded retail division, increased 74.7% to $189.7 million, compared to $108.6 million in 2012. This increase was primarily due to the increase in new stores opened and same store sales. Ever-Glory had 960 LA GO GO stores as of December 31, 2013, compared to 727 LA GO GO stores at December 31, 2012.
 
In 2013, wholesale sales generated from the Company's wholesale business increased 4.3% to $178.3 million, compared to $171.0 million in 2012. This increase was primarily attributable to increased sales in the PRC, the United Kingdom and Europe partially offset by decreased sales in Germany, Japan and the United States.
 
Total gross profit for the year 2013 was $94.6 million, or 25.7% of total sales, compared to $65.1 million, or 23.3% of total sales last year.
 
Selling expenses for the year 2013 increased 53.5% to $51.8 million compared to $33.7 million last year. As a percentage of sales, selling expenses increased 200 basis points to 14.1% compared to 12.1% last year. The increase was attributable to the increased number of stores, leading to increased numbers of retail employees and increased average salaries, as well as the increased store decoration and marketing expenses associated with the promotion of the LA GO GO brand.
 
General and administrative expenses for the year 2013 increased 51.9% to $24.7 million compared to $16.2 million last year. As a percentage of sales, general and administrative expenses increased 90 basis points to 6.7% compared to 5.8% last year. The increase was attributable to an increase in the number of wholesale and retail management personnel.
 
Income from operations increased by 20.3% to $18.1 million in 2013 from $15.1 million in 2012. As a percent of sales, income from operations accounted for 4.9% of our total sales in 2013, a decrease of 0.5% compared to 2012.


Must ReadView All

Textiles | On 30th May 2016

Uttarakhand to launch new textile parks

The Uttarakhand government is setting up three textile parks in the...

Apparel/Garments | On 30th May 2016

Youngone Corp to invest in Ethiopia’s textile sector

Youngone Corporation, a South Korea based textile and footwear...

Courtesy: Lakshmi Machine Works

Textiles | On 30th May 2016

LMW’s net sales up 5.41% in Q4 ended March 31

Lakshmi Machine Works (LMW) posted a rise of 5.41 per cent in net...

Interviews View All

Siddharth Biyani
Mangalam Industries Pvt Ltd

How is the man-made fibre (MMF) industry shaping up? How is Mangalam...

Veronique Lee
Modavanti

Sustainable fashion is not necessarily pocket- friendly. Are consumers...

Pinkesh Jain
Everflow Petrofils Ltd

What are the latest technological innovations in the spinning industry?...

Kevin Nelson
TissueGen

<b><i>Kevin Nelson, Chief Scientific Officer, TissueGen discusses the...

Kai Poehler
Voith Paper GmbH & Co. KG

<b><i>The glass mat industry is growing by five to eight per cent...

Eric Scholler
Groz-Beckert

<b><i>The Indian market has huge potential in technical textiles, and by...

Mike Hoffman
Gildan Activewear SRL

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

Tony Ward
Tony Ward

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

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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
May 2016

F2F Magazine

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search