Home / Knowledge / News / Apparel/Garments / Ever-Glory Q1 total sales boost 35.4% to $106mn
Ever-Glory Q1 total sales boost 35.4% to $106mn
23
Jun '14
Ever-Glory International Group, Inc., a leading apparel supply chain manager and retailer based in China, reported its financial results for the first quarter ended March 31, 2014.
 
Total sales for the quarter were $106.0 million, an increase of 35.4% compared to $78.3 million in the first quarter of last year. This increase was primarily attributable to a 42.7% increased sales in retail business as well as a 24.6% increased sales in wholesale business.
 
Retail sales for the quarter from LA GO GO, the Company's branded retail division, increased 42.7% to $66.6 million, compared to $46.7 million last year. This increase was primarily due to the increase in new stores opened and same store sales. Ever-Glory had 976 LA GO GO stores as of March 31, 2014, compared to 755 LA GO GO stores as of March 31, 2013.
 
Wholesale sales generated from the Company's wholesale business for the quarter increased 24.6% to $39.4 million, compared to $31.7 million last year. This increase was primarily attributable to increased sales in the PRC, the Germany, France and Japan partially offset for decreased sales in the United Kingdom and United States.
 
Total gross profit for the quarter was $25.8 million, or 24.3% of total sales, compared to $20.3 million, or 25.9% of total sales last year.
 
Selling expenses for the quarter increased 36.0% to $16.1 million compared to $11.9 million last year. As a percentage of sales, selling expenses increased 10 basis points to 15.2% compared to 15.1% 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 quarter increased 41.4% to $6.4 million compared to $4.5 million last year. As a percentage of total sales, general and administrative expenses increased 30 basis points to 6.0% compared to 5.7% last year. The increase was attributable to an increase in payroll for additional management and design and marketing staff as a result of our business expansion.
 
Income from operations for the quarter decreased 16.1% to $3.3 million compared to $4.0 million last year. As a percentage of sales, income from operations accounted for 3.1% of our total sales for the quarter, a decrease of 2.0% compared to 5.1% last year.


Must ReadView All

Courtesy: Rieter

Textiles | On 22nd Aug 2017

Rieter unveils new generation of RDB-D 50 draw frame

Rieter, a producer of textile machinery and automobile components,...

Courtesy: Alizilla

Textiles | On 22nd Aug 2017

‘New Retail’ strategy Alibaba’s focus in next 15 years

Alibaba executive vice chairman Joe Tsai has said that the next 15...

Courtesy: Eurovet/ Interfiliere Shanghai

Textiles | On 22nd Aug 2017

Interfiliere Shanghai to focus on textile printing

Interfiliere Shanghai, the leading trade show for intimates,...

Interviews View All

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Kai Poehler
Voith Paper GmbH & Co. KG

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

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, 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

August 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
67.7%
No
16.1%
Skip
16.1%

Total Votes: 31

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
45.2%
No
35.5%
Skip
19.4%

Total Votes: 31

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
83.9%
No
6.5%
Skip
9.7%

Total Votes: 31

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
61.3%
No
9.7%
Skip
29.0%

Total Votes: 31


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