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 24th Jun 2017

Applied DNA to tag cotton for 2017/18 US ginning season

Applied DNA, provider of DNA-based supply chain security,...

Apparel/Garments | On 24th Jun 2017

NPD Group launches Trend Tracker for apparel trends

Global information company the NPD Group has launched Trend Tracker,...

Textiles | On 24th Jun 2017

Cotton USA’s first innovation competition in UK ends

Cotton USA has announced the successful close to its first innovation ...

Interviews View All

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Eric Scholler
Groz-Beckert

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

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Marcel Alberts
Eurofibers

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

Yash P. Kotak
Bombay Hemp Company

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

Sonam & Paras Modi
SVA

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

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

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

news category


Related Categories:
June 2017

June 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