Home / Knowledge / News / Apparel/Garments / Monte Carlo Fashions Q1FY16 sales decline 5.9%
Monte Carlo Fashions Q1FY16 sales decline 5.9%
11
Aug '15
Monte Carlo Fashions (MCFL), a retailer of branded apparels reported that its sales declined 5.9 per cent year over year for the first quarter ended June 30, 2015.

In a press release, MCFL said its revenue fell 5.9 per cent from a fiscal ago period to Rs 68.8 crore for the quarter ended June 30, 2015.

According to MCFL, revenues have been impacted, as it includes adjustments for stock correction and unsold inventory returned primarily from the woolen segment from large format stores.

It also added that as a prudent accounting policy, the auditors have considered the value of inventory returned till the cut-off date of the partial audit in the month of July or end of quarter whichever is higher.

“Last year it was considered as of end of the quarter and due to the new accounting policy revenue has been impacted to the tune of Rs. 53.3 million in the quarter under review,” it explained.

MCFL further added that EBIDTA has been impacted due to increase in advertising & marketing expenses which is part of the company's strategy for pan-India brand visibility as well as penetration in the South India.

“This would help the company in the long run and also the advertisement expenses are expected to rationalise over the course of the year,” MCFL added.

In terms of its business operations, MCFL has added six exclusive retail outlets which are primarily in the Southern part of the country, due to which EBOs numbers as on June 30, 2015 has reached 220.

MCFL also informed that it has been receiving good response from the customers as the share of South India has increased to almost 5.1 per cent of the overall revenue during the reporting quarter.

Monte Carlo Fashions Ltd is a manufacturer and retailer of woolen products, including sweaters and cardigans, and cotton knitted garments such as t-shirts, track suits, ties, innerwear, thermal wear, etc.

MCFL's manufacturing facilities are primarily located in Ludhiana, Punjab, and are fully backed by capabilities in product development, design studio and an efficient sampling infrastructure.

It follows an asset-light model for its cotton knitted garments and woven garments by primarily outsourcing the production of its knitted and woven products. (AR)

Fibre2Fashion News Desk – India

Must ReadView All

Textiles | On 28th Mar 2017

India may impose duty on elastomeric filament yarn

The Government of India is likely to impose anti-dumping duty on...

Courtesy: Lee Cooper

Apparel/Garments | On 28th Mar 2017

CCI clears FLFL proposal to divest Lee Cooper

The Competition Commission (CCI) of India has approved the proposal...

Textiles | On 28th Mar 2017

Bardoli CEFC to benefit south Gujarat MSMEs

India’s first common engineering facility centre (CEFC) at Bardoli,...

Interviews View All

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Binoy Ravjani
Hero's Fashion

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

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Paolo Ocleppo
Sandvik Hyperion

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

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Wendell Rodricks
Wendell Rodricks

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

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Karan Arora
Karan Arora

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

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