Joe's Jeans sales surge 33% in Q4 FY'12

Net sales for our wholesale segment in the fourth quarter of fiscal 2012 increased 37% to $26.8 million compared to $19.5 million in the year ago period. Within our wholesale business, both of our men’s and women’s Joe’s sales channels experienced growth and we benefited from sales from our elsebrand.

Gross margins for our wholesale segment were 41% for the fourth quarter of fiscal 2012 compared to 40% in the prior year comparable quarter. For the fourth quarter, wholesale operating expense increased to $3.7 million compared to $3.2 million in the year ago period. Our wholesale operating income increased to $7.3 million in the fourth quarter of fiscal 2012 compared to $4.7 million in the prior year comparative period.

Mr. Crosman commented, “During the quarter, we were pleased to see our women’s Joe’s wholesale business increase as our Vintage Reserve and revamped core basics brought back customers. These items, layered in with a growing men’s business and our else brand, allowed our wholesale channel to have healthy growth for the quarter.”

Corporate and Other

For the fourth quarter of fiscal 2012, our corporate and other expenses were $4.7 million compared to $5.3 million in the fourth quarter a year ago. Corporate and other expenses decreased due to decreases in our advertising commitments for print and other advertising and professional fees.

Joe's Jeans