Home / Knowledge / News / Apparel/Garments / Q1 profit falls at women's apparel firm OmniaLuo
Q1 profit falls at women's apparel firm OmniaLuo
30
May '09
OmniaLuo Inc, a China-based company engaged in the business of designing, developing, marketing and distributing fine women's apparel under the brand name OMNIALUO, announced record operating results for the first quarter ended March 31, 2009.

OmniaLuo reported revenue of approximately $3.0 million for the quarter ended March 31, 2009, representing a small increase even though we are facing the economic downturn, compared to approximately $2.5 million for the quarter ended March 31, 2008.

Revenue from sales to independent distributors for the quarter ended March 31, 2009 was approximately $1.7 million (58% of total sales revenue for the period), as compared to approximately $1.67 million for the quarter ended March 31, 2008, representing a 2% increase.

Revenue from sales from Company-owned and co-owned stores for the quarter ended March 31, 2009 was approximately $1.2 million (41.8% of total sales revenue for the period), as compared to approximately $0.87 million for the quarter ended March 31, 2008, representing a 40% increase.

OmniaLuo reported overall gross profit of approximately $1.6 million for the three months ended March 31, 2009, (representing an overall gross profit margin of 53.1%), as compared with overall gross profit of $1,465,919 for the three months ended March 31, 2008 (representing an overall gross profit margin of 57.6%).

The decrease in gross profit margin was mainly attributable to the aggressive discount promotions in most of the shopping malls. During the first quarter of 2009, due to negative impact of the global recession, consumers were unwilling to buy higher end clothes. As a result, most of the shopping malls were forced to deeply discount the merchandise to promote sales, which in turn cut into our overall gross profit margin for the first quarter of 2009.

OmniaLuo reported net income of approximately $0.3 million for the three months ended March 31, 2009, as compared with $0.5 million for the three months ended March 31, 2008, representing a decrease of 41.6% for the reasons described above.

Based on 22,840,000 shares outstanding on a weighted average basis as of March 31, 2009, OmniaLuo had a net income of approximately $0.01 per share for the quarter ended March 31, 2009, as compared to a net income of approximately $0.02 per share for the quarter ended March 31, 2008.

OmniaLuo Inc


Must ReadView All

GMAC urges Cambodia to push fabric-forward rule in RCEP

Apparel/Garments | On 17th Oct 2017

GMAC urges Cambodia to push fabric-forward rule in RCEP

Representatives from the Garment Manufacturers Association of...

Alibaba to invest $15 billion in DAMO Academy for research

Textiles | On 17th Oct 2017

Alibaba to invest $15 billion in DAMO Academy for research

Alibaba will invest $15 billion over the next several years in its...

Pressure on  Indian textiles exporters to ease by Q3: ICRA

Textiles | On 17th Oct 2017

Pressure on Indian textiles exporters to ease by Q3: ICRA

Pressures on the profit and debt levels of textiles exporters is...

Interviews View All

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Abhishek Ganguly
Puma India

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

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Steve Cole
Xerium Technologies

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

Larry L Kinn
Suominen Corporation

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

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Bani Batra

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

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

October 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
76.9%
No
13.8%
Skip
9.2%

Total Votes: 65

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
61.5%
No
27.7%
Skip
10.8%

Total Votes: 65

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
84.6%
No
10.8%
Skip
4.6%

Total Votes: 65

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
73.8%
No
12.3%
Skip
13.8%

Total Votes: 65


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