Home / Knowledge / News / Apparel/Garments / Fashion apparel sales tumble at Sport-Haley
Fashion apparel sales tumble at Sport-Haley
21
Feb '09
Sport-Haley Inc reported unaudited earnings for its second fiscal quarter and six months ended December 31, 2008.

Net sales of fashion apparel for the three months ended December 31, 2008, were $3,225,000, a decrease of $1,160,000, or 26%, from net fashion apparel sales of $4,385,000 for the comparable three-month period in the prior fiscal year. Net sales of fashion apparel for the six months ended December 31, 2008, were $6,049,000, a decrease of $1,744,000, or 22%, from net fashion apparel sales of $7,793,000 for the comparable six-month period in the prior fiscal year.

Net sales of branded apparel were $26,000 and $146,000 for the three months and six months ended December 31, 2007, respectively, were comprised of shipments to a retailer for a test in 50 of its stores. We discontinued marketing branded apparel bearing the Top-Flite label in November 2007, and in March 2008 our license agreement with Callaway was amended to remove the Top-Flite brand, effective January 1, 2008.

As a percentage of net sales, gross profit of our fashion apparel was 32% and 30% for the three months and six months ended December 31, 2008, and was 41% and 38%, for the three months and six months ended December 31, 2007, as corrected, respectively. As a percentage of net sales, gross profit of our branded apparel was 0% and 0% for the three months and six months ended December 31, 2008, and was (77%) and 3% for the three months and six months ended December 31, 2007, as corrected, respectively.

Net loss for the three months ended December 31, 2008, was ($142,000), a difference of ($119,000), or 517%, as compared with the net loss of ($23,000) for the three months ended December 31, 2007, as corrected. Net loss for the six months ended December 31, 2008, was ($1,182,000), a difference of ($490,000), or 71%, as compared with the net loss of ($692,000) for the six months ended December 31, 2007, as corrected. Basic and diluted losses per share were ($0.06) and ($0.01) for the three-month periods ended December 31, 2008 and 2007, as corrected, respectively.

Basic and diluted losses per share were ($0.52) and ($0.30) for the six-month periods ended December 31, 2008 and 2007, as corrected, respectively. All securities options were anti-dilutive and therefore excluded from the per share calculations with respect to periods in which net losses were incurred.

Sport-Haley Inc

Must ReadView All

Apparel/Garments | On 18th Jan 2017

Government considering 100% FDI in single brand retail

The Government of India is looking at allowing 100 per cent foreign...

Courtesy: Walmart

Apparel/Garments | On 18th Jan 2017

Walmart to create 34,000 new jobs in the US

The world’s biggest retailer and also the biggest US private sector...

Courtesy: UN Department of Public Information

Textiles | On 18th Jan 2017

World economy expanded by just 2.2% in 2016: UN

The world economy expanded by just 2.2 per cent in 2016, the slowest...

Interviews View All

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Steve Cole
Xerium Technologies

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

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Robert Brunner
Devereux

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

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

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
January 2017

January 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