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

Textiles | On 22nd Apr 2017

Strong rupee & weak trade to affect textile exporters

Textile and apparel exporters' earnings and EBITDA margins will be...

Textiles | On 22nd Apr 2017

Myntra acquires InLogg

With an aim to strengthen supply chain and logistics, Flipkart-owned...

Textiles | On 22nd Apr 2017

Aditya Birla Group launches new variant Liva Crème

After its successful launch of high quality fabric Liva in 2015,...

Interviews View All

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

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

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Ashok Desai
Bombay Textile Research Association

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

Giorgio Mantovani
Corman S.p.A

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

Kerem Durdag
Biovation II LLC

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

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Mike Hoffman
Gildan Activewear SRL

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

Silvia Venturini Fendi
Fendi s.r.l

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

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