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Joe's Jeans gross profit up by 16%
11 Feb '11
4 min read
Retail
Net sales from our retail segment in the fourth quarter increased 156% to $4.1 million compared to $1.6 million in the prior year comparative period. The growth in retail sales was driven by revenue contribution from growing our store base from six to 17 in the comparative periods. Gross margins for our retail segment were 61% compared to 65% in the respective comparative periods.
Beginning in June through September, the beginning of our fourth quarter, we liquidated remnants of old collection items at our outlet stores which impacted our overall retail gross margins. Retail operating expense increased as a result of additional store payroll and rent costs associated with operating 17 retail stores compared to six in the prior year period and pre-opening costs associated with new store openings in the quarter. As a result, our retail operating loss was $145,000 compared to $43,000 a year ago.
Corporate and Other
For the fourth quarter of fiscal 2010, our corporate and other expense was $4.1 million compared to $4.7 million a year ago. Corporate and other expenses decreased due to advertising expenses in the fourth quarter of fiscal 2009 that we did not have in the fourth quarter of fiscal 2010.
Net sales from our retail segment in the fourth quarter increased 156% to $4.1 million compared to $1.6 million in the prior year comparative period. The growth in retail sales was driven by revenue contribution from growing our store base from six to 17 in the comparative periods. Gross margins for our retail segment were 61% compared to 65% in the respective comparative periods.
Beginning in June through September, the beginning of our fourth quarter, we liquidated remnants of old collection items at our outlet stores which impacted our overall retail gross margins. Retail operating expense increased as a result of additional store payroll and rent costs associated with operating 17 retail stores compared to six in the prior year period and pre-opening costs associated with new store openings in the quarter. As a result, our retail operating loss was $145,000 compared to $43,000 a year ago.
Corporate and Other
For the fourth quarter of fiscal 2010, our corporate and other expense was $4.1 million compared to $4.7 million a year ago. Corporate and other expenses decreased due to advertising expenses in the fourth quarter of fiscal 2009 that we did not have in the fourth quarter of fiscal 2010.
Joe's Jeans Inc
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