Home / Knowledge / News / Apparel/Garments / Nitche consolidated net sales down 6.5% in Q1
Nitche consolidated net sales down 6.5% in Q1
25
Jan '08
Nitches Inc announced its results for the three months ended November 30, 2007. Consolidated net sales for the first quarter of fiscal 2008 decreased 6.5% to $33.1 million versus $35.4 million for the first quarter of 2007.

The sales decrease was attributable primarily to a decrease in shipments of Fall men's sportswear product to Wal-Mart, offset partially by increased shipments of our women's sleepwear and private label apparel.

The Company earned consolidated net income of $458,000 for the first quarter of fiscal 2008 versus $1,217,000 in the prior year. First quarter earnings per basic share were $.08 versus income of $.25 per share for the first quarter of fiscal 2007.

Fully diluted earnings per share were $.08 in the current period versus $.24 in the prior quarter. Earnings were negatively impacted in the current period by lower realized gross margins due to pricing pressures from retailers amid a weakening retail environment.

At November 30, 2007, the Company had unfilled customer orders of $35.7 million compared to $26.4 million at the same time last year, with such orders generally scheduled for delivery by May 2008 and May 2007, respectively.

The increase of $9.3 million reflects sales order growth across all product lines. Most notably, the higher volume of orders for men's sportswear includes an increase in orders for Spring merchandise from Wal-Mart, while an increase in orders for home décor products reflects theinitial launch of Paula Deen licensed dinnerware and related items.


Must ReadView All

Uzbekistan, S Korea to launch textile techno park in Sept

Textiles | On 19th Feb 2018

Uzbekistan, S Korea to launch textile techno park in Sept

Uzbekistan and South Korea plan to launch a modern textile techno...

Hyosung to invest Rs 3,000 cr in Maharashtra spandex unit

Textiles | On 19th Feb 2018

Hyosung to invest Rs 3,000 cr in Maharashtra spandex unit

The largest global spandex producer Hyosung Corporation of South...

Courtesy: VF Corporation

Apparel/Garments | On 19th Feb 2018

VF Corp Q4 revenue climbs 20% to $3.6 billion

The revenue of VF Corporation, a global leader in branded lifestyle...

Interviews View All

Representatives
Textile & apparel industry

GST is a complicated and lengthy process

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

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

February 2018

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
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

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
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

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
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

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
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


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