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Differential Brands Group slips into Q3 net loss
17
Nov '16
For the three months ended September 30, 2016, Differential Brands Group, a marketer of premium apparel and footwear brands slipped into a net loss. Net loss in the third quarter of 2016 was $2.8 million, or $0.22 loss per share. As against this, the marketer reported net income of $36,000, or $0.00 net earnings per share in the prior year's third quarter.

In the reporting quarter, net sales grew to $41.2 million compared to $17.6 million in the same period of the earlier year, driven by the inclusion of $19.5 million from the addition of sales from Hudson and $3.5 million from the addition of sales from SWIMS, both, which were acquired in 2016.

Gross profit for the third quarter of 2016 too rose to $20.3 million from $11.0 million in the comparable quarter of 2015, which the company attributed to the addition of $10.3 million in gross profit from the Hudson brand and $1.6 million in gross profit from the SWIMS brand.

Adjusted EBITDA for the quarter under review was also higher at $1.8 million vis-à-vis $1.2 million in the third quarter of previous year. (AR)

Fibre2Fashion News Desk – India
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