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People's Liberation delivers strong Q1 gross margin
18 May '10
4 min read
• In the first half of Q3, the Company expects to open a new William Rast branded retail store, also located at the Aventura Mall in Miami, Florida.
• During Fashion Week in February, Justin Timberlake and Trace Ayala presented their Fall/Winter 2010 William Rast collection at a fashion show held at Cedar Lake in NYC. The show launched a capsule collection of William Rast footwear with boots complementing the William Rast DNA and reflecting the biker and Americana influences, which are designed to work with William Rast denim.
Total operating expenses for the first quarter of 2010 were $5.4 million, compared to $4.7 million a year ago. The increase was primarily related to the fashion show expenses. Amounts received as a result of the Company's sponsorship agreement, and included in net revenue, offset the cost of the Company's fashion show held in Q1-2010.
Net loss for the first quarter of 2010 was approximately $1.0 million, compared to a net loss of $1.4 million in the first quarter of 2009. Net loss attributable to common stockholders for the first quarter of 2010 was approximately $1.2 million, compared with a net loss attributable to common stockholders of $1.6 million in the first quarter of 2009. The decrease in net loss to common stockholders was due primarily to increased net revenue and gross margin, partially offset by increased operating expenses, as discussed above.
• During Fashion Week in February, Justin Timberlake and Trace Ayala presented their Fall/Winter 2010 William Rast collection at a fashion show held at Cedar Lake in NYC. The show launched a capsule collection of William Rast footwear with boots complementing the William Rast DNA and reflecting the biker and Americana influences, which are designed to work with William Rast denim.
Total operating expenses for the first quarter of 2010 were $5.4 million, compared to $4.7 million a year ago. The increase was primarily related to the fashion show expenses. Amounts received as a result of the Company's sponsorship agreement, and included in net revenue, offset the cost of the Company's fashion show held in Q1-2010.
Net loss for the first quarter of 2010 was approximately $1.0 million, compared to a net loss of $1.4 million in the first quarter of 2009. Net loss attributable to common stockholders for the first quarter of 2010 was approximately $1.2 million, compared with a net loss attributable to common stockholders of $1.6 million in the first quarter of 2009. The decrease in net loss to common stockholders was due primarily to increased net revenue and gross margin, partially offset by increased operating expenses, as discussed above.
People's Liberation Inc
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