Total company net sales for the three months ended September 30, 2017, increased 3 per cent to $42.4 million, reflecting 1 per cent increase in wholesale segment sales and 5 per cent increase in consumer direct segment sales. The wholesale increase was driven by over 40 per cent growth at SWIMS, as well as by modest growth from the Hudson brand, primarily at full price Specialty doors. The increase in the consumer direct segment was led by e-commerce sales growth of 12 per cent.
For the reported period, the company's operating income was $1.2 million. This compared to an operating loss of $2.4 million for the same period last year. Adjusted EBITDA was $3.2 million as compared to $1.8 million in the same quarter last year.
"During the third quarter, we continued to grow sales and expand gross margin, resulting in an adjusted EBITDA improvement of $1.4 million. Our consumer direct segment growth rate continued to out-pace our wholesale segment, with double digit e-commerce growth this year, which came on top of more than 50 per cent growth in the comparable quarter last year. The increase was driven largely by higher conversion rates and more units sold per order across our brands’ websites," Michael Buckley, chief executive officer, said.
Total company net sales for the nine months ended September 30, 2017, increased 11 per cent to $118.9 million compared to $107.2 million for same period in the prior year, reflecting an 11 per cent increase in wholesale segment sales and 10 per cent increase in consumer direct segment sales. Gross profit was $52.9 million for the nine months ended September 30, 2017, compared to $44.5 million for the same period last year. Total gross margin was 44.5 per cent compared to 41.5 per cent for the nine months ended September 30, 2016.
"Overall, we continue to navigate the sales distribution shift in our industry from traditional brick and mortar channels, especially at department stores, to e-commerce driven sales on both our brands’ sites and our partners’ sites, and to new and innovative digital marketplaces around the globe," Buckley concluded. (RR)
Fibre2Fashion News Desk – India
Textiles | On 2nd Mar 2021
China plans to build a global rapid logistics circle for goods by...
Retail | On 2nd Mar 2021
The National Retail Federation has projected that US retail sales...
Apparel/Garments | On 2nd Mar 2021
Exports of garments and hard goods in the Philippines may reach $2...
Priyanka Studio Priyanka Rajiv
‘To reinvent the age-old tradition of embroidery to suit demographics and...
Nishank Patel Shri Dinesh Mills Limited
Broad range of fabrics will sell well this financial year
Nitin Bhatia Trend Arrest
Setting up a brand for online selling is easy, but running the brand is not
Abhishek Ralli
Guide group is a government recognised manufacturing house engaged in the...
Xavier Martinez
CADT Software & Drafting was founded in Spain in 1987 by Josep...
Tom Adeyoola
Describing itself as the best body shape and garment fit company in the...
Isabel Herranz European School of Business & innovation
Cutting-edge ideas like the Internet of Things and artificial intelligence ...
Matthew Kolmes Supreme Corporation
Supreme Corporation manufactures innovative specialty yarns and safety...
Steve McCullough & Marco Weichert Functional Fabric Fair & Design and Development GmbH Textile Consult respectively
Functional Fabric Fair is a trade-exclusive event showcasing the latest...
Sweta Agarwal A Humming Way
A Humming Way (AHW) is inspired by the old-world regalia of Rajasthan...
Suman Nathwani Suman Nathwani
<span style="font-size: 12px;">Designer <b>Suman Nathwani</b> talks about...
Sarah Denise Cordery Sarah Denise Studio
Manchester, England-based Sarah Denise Studio provides relevant fashion...
Press Release
Letter to Editor
RSS Feed
Search Companies
editorial@fibre2fashion.com
Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.
Subscribe today and get the latest information on Textiles, Fashion, Apparel.