Home / Knowledge / News / Apparel/Garments / Nitches to celebrate grand opening of eighth Backwoods store
Nitches to celebrate grand opening of eighth Backwoods store
26
Apr '08
Nitches Inc announced its results for the three and six months ended February 29, 2008.

Nitches reported that consolidated net sales for the second quarter of fiscal 2008 increased 13.1% to $16.1 million versus $14.3 million for the second quarter of 2007.

The sales increase was attributable primarily to an increase in shipments of men's sportswear and women's sleepwear product.

Consolidated net sales for the six months ended February 29, 2008 decreased 1% to $49.3 million versus $49.7 million for the six months ended February 28, 2007. The sales decrease was attributable primarily to a decrease in shipments of men's sportswear in the first quarter of fiscal 2008.

The Company reported a consolidated net loss of $1.9 million for the second quarter of fiscal 2008 versus a net loss of $530,000 in the prior year.

Second quarter loss per basic and diluted share were $.32 versus a loss of $.10 per basic and diluted share for the second quarter of fiscal 2008.

Consolidated net loss of $1.4 million for the six months ended February 29, 2008 compares with net income of $689,000 for the six months ended February 28, 2007.

For the current year period, the loss was $.25 per basic and diluted share versus earnings of $.14 per basic share and $.13 per diluted share for the first half of fiscal 2007.

Net sales and consequently earnings were negatively impacted during the current three and six month periods by lower realized gross margins due to pricing pressures and higher sales allowances granted to significant customers amid a weakening retail environment.

Must ReadView All

Textiles | On 7th Dec 2016

New Texprocil chairman bats for increased UPI adoption

Ujwal Lahoti, the new Cotton Textile Export Promotion Council...

RBI Governor Urjit Patel addressing a press conference. Courtesy: Youtube

Textiles | On 7th Dec 2016

Defying expectations, RBI keeps repo rate unchanged

Defying market expectations, the Monetary Policy Committee (MPC) of...

The new OJ 59/1 B. Courtesy: Karl Mayer

Textiles | On 7th Dec 2016

Karl Mayer unveils new LACE.EXPRESS model for apparel

Germany’s leading textile machinery firm, Karl Mayer, has launched a...

Interviews View All

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Victor Chao
Esmetex

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

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Mark Paterson
Technical Absorbents Ltd

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

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Yash P. Kotak
Bombay Hemp Company

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

Silvia Venturini Fendi
Fendi s.r.l

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

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
December 2016

December 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search