Home / Knowledge / News / Apparel/Garments / Weak sales dampen Erarat Lifestyle's Q3 profit
Weak sales dampen Erarat Lifestyle's Q3 profit
22
Jan '14
Amidst a subdued domestic economic scenario, Chinese apparel company Eratat Lifestyle Limited witnessed a dip in sales revenue and profitability in the third quarter of 2013.
 
The company, which is engaged in the design and distribution of lifestyle fashion apparel and fashion footwear, reported a 5 per cent dip in revenue at RMB 314 million in Q3 FY13 from RMB 330 million the same period a year ago amidst muted apparel sales and a decline in footwear sales.
 
Similarly, in the nine-months ended December 31, 2013 sales revenue dipped 1.2 per cent to RMB 738 million from RMB 746 million in the year ago period despite an increase in apparel sales.
 
Sluggish consumer spending amidst inflationary pressures and a slowdown in the Chinese economy has weakened appetite for discretionary spending, weighing on the Chinese apparels industry.
 
Revenue from apparels climbed by a muted 0.7 per cent to RMB 241.7 million in the three months ended December 31, 2013 from the same period a year ago. 
 
Sales from the apparel business, which has now become the prime focus of Eratat Lifestyle Limited, accounted for 77 per cent of the company’s total revenue in Q3 FY 2013, up from 72.6 per cent in the same period a year ago.
 
The company posted a 31.3 per cent dip in profit after tax at RMB 38.8 million in Q3 FY 2013 from RMB 56.4 million in the same period a year ago as revenue declined.
 
The company, which was formerly known as China Eratat Sports Fashion Limited distributes lifestyle fashion apparel under its well-established proprietary brand, “ERATAT”.
 

Fibre2fashion News Desk - India


Interviews View All

Kaizad Hansotia, GetNatty

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Top executives, Textile industry, India

Top executives
Textile industry, India

Such fairs are a must for industry to showcase new innovations

Mohammad Mamun Ar Rashid, UL VS Bangladesh Ltd

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Maya Simova,

Maya Simova

Inter Expo and Congress Center (IEC) is a prominent exhibition centre in...

Marcello Galvanin,

Marcello Galvanin

Galvanin has more than 50 years of experience in the production of textile ...

Iacopo Pardini,

Iacopo Pardini

Founded in 1953, Italian engineering company Arioli Spa started...

Kevin Nelson, TissueGen

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Suresh Patel, Sidwin Fabric

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Larry L Kinn, Suominen Corporation

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Divvya and Nidhhi Gambhir, Walnut

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Sweta Agarwal, A Humming Way

Sweta Agarwal
A Humming Way

A Humming Way (AHW) is inspired by the old-world regalia of Rajasthan...

Igor Chapurin, Chapurin

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


November 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search