Home / Knowledge / News / Apparel/Garments / Operating income up at Joe's Jeans
Operating income up at Joe's Jeans
09
Apr '10
Joe's Jeans Inc announced financial results for the first quarter ended February 28, 2010.

Highlights were:

• Net sales increased 41% to $23.2 million over the prior year comparative period
• Gross profit increased 38% to $11.4 million over the prior year comparative period
• Operating income increased 36% to $1.4 million over the prior year comparative period

For the first quarter ended February 28, 2010, overall net sales were $23.2 million compared to $16.5 million from the prior year comparative period, a 41% increase. Marc Crossman, President and Chief Executive Officer, commented, "We are pleased to report for the second consecutive quarter, all of our distribution channels, namely, domestic women's, domestic men's, international and retail experienced healthy sales increases."

Our gross profit for the quarter increased to $11.4 million from $8.3 million from the prior year comparative period, or a 38% increase. Our gross margins decreased by one percentage point to 49% compared to 50% in the prior year period. Our gross margin was impacted by the addition of lower margin new product lines as we continue to expand into new classifications. First quarter SG&A was $9.7 million compared to $7.1 million a year ago. The increase over last year is mostly attributable to additional headcount and rent costs associated with our retail strategy and marketing and advertising expenses as we launched a new campaign to support our expansion into other product lines.

In the first quarter, our operating income was up 36% to $1.4 million compared to $1.0 million in the prior year comparative period. Marc Crossman, President and Chief Executive Officer, commented, "We were pleased with our ability to achieve such a healthy increase in our operating income for our first quarter in light of additional marketing and advertising expenses of approximately $700,000 during this period. With the media campaign around the launch of our new product classifications ending, we do not expect to see significant increases in this area in future periods."

Crossman continued, "Our first quarter continued the momentum from our fourth quarter, as we signed leases for nine additional branded retail stores, added a new shoe licensee, expanded our product offerings and continued top line and operating income growth."

Joe's Jeans Inc


Must ReadView All

Textiles | On 20th Jul 2017

Provide safety net for cotton growers: Congress to Trump

A bipartisan Congressional coalition has called attention of...

Courtesy: ITMF

Textiles | On 20th Jul 2017

ITMF'17 themed on tech, trade, climate in disruptive times

The International Textile Manufacturers Federation (ITMF), an...

Textiles | On 20th Jul 2017

RIL’s Q1 FY18 petrochemicals revenue up 22.9% y-o-y

Reliance Industries Limited (RIL) has reported its financial...

Interviews View All

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Larry L Kinn
Suominen Corporation

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

Mohammad Hassan
Biax Fiberfilm

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

Ashok Desai
Bombay Textile Research Association

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

Sonam & Paras Modi
SVA

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

Rupa Sood and Sharan Apparao
Nayaab

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

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

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

July 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

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


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



X