Home / Knowledge / News / Apparel/Garments / Hampshire's Q1 gross profit decline
Hampshire's Q1 gross profit decline
09
May '08
Hampshire Group Limited announced its first quarter 2008 results and that it has filed its quarterly report on Form 10-Q for the quarter ended March 29, 2008 with the United States Securities and Exchange Commission. This press release should be read in conjunction with the filed quarterly report referred to in this release.

As disclosed in previous filings, Hampshire Group sold certain assets of its Shane Hunter subsidiary on April 15, 2008. For the periods discussed herein, Shane Hunter's results of operations were reflected in discontinued operations and excluded from continuing operations.

Net sales from continuing operations for the three months ended March 29, 2008 decreased 2.0% to $39.8 million from $40.6 million for the same period last year.

The decline was the result of a decrease in volume due mainly to weak retail conditions and partially offset by higher average unit selling prices. If these retail conditions persist, which the Company believes appears likely for the balance of the year, net sales will be adversely affected in 2008.

The loss from continuing operations before income taxes for the three months ended March 29, 2008 was $5.5 million compared to $4.9 million for the same period last year, which included special costs associated with the previously announced Audit Committee investigation and related matters of $0.5 million and $2.1 million, respectively.

The increase in the loss from continuing operations in 2008 was due mainly to a decline in gross profit to $9.3 million or 23.5% of net sales for the three months ended March 29, 2008 compared with $10.4 million or 25.6% of net sales for the same period last year.

This decline in gross profit was due primarily to the combined effects of changes in the mix of product sold, fluctuations in currency rates, and the increase in the costs of production and transportation.

Must ReadView All

Courtesy: Christian Dior

Fashion | On 25th Apr 2017

LVMH to acquire Christian Dior Couture for €6.5bn

LVMH and Christian Dior, which holds directly and indirectly 41 per...

Apparel/Garments | On 25th Apr 2017

Walmart's Project Gigaton to help reduce emissions

Walmart has launched a sustainability platform called Project Gigaton ...

Courtesy: Arvind

Fashion | On 25th Apr 2017

The Arvind Store launches ready-to-wear brand for men

The Arvind Store has announced the launch of its own ready-to-wear...

Interviews View All

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Eric Scholler
Groz-Beckert

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

Rupa Sood and Sharan Apparao
Nayaab

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

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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
April 2017

April 2017

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

SUBSCRIBE


Browse Our Archives

GO


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