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

Textiles | On 18th Aug 2017

Turkey imposes temporary duty on POY from 7 countries

Turkish ministry of economy has announced imposition of provisional...

Textiles | On 18th Aug 2017

GST return filing deadline for transitional credit

For businesses who want to avail the transitional input tax credit...

Apparel/Garments | On 18th Aug 2017

AEPC wants clarity on minimum wages for garment sector

The Apparel Export Promotion Council (AEPC) has urged the Indian...

Interviews View All

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Larry L Kinn
Suominen Corporation

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

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Judy Frater
Somaiya Kala Vidya

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

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

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
66.7%
No
16.7%
Skip
16.7%

Total Votes: 30

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
43.3%
No
36.7%
Skip
20.0%

Total Votes: 30

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
83.3%
No
6.7%
Skip
10.0%

Total Votes: 30

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
60.0%
No
10.0%
Skip
30.0%

Total Votes: 30


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