>>
Home / Knowledge / News / Apparel/Garments / Hanover reports net loss of $1.8 mn in Q1

Hanover reports net loss of $1.8 mn in Q1

17
May '06
Hanover Direct Inc announced that it reported a net loss of approximately $1.8 million applicable to common shareholders for first fiscal quarter ended April 1, 2006, compared to net income applicable to common shareholders of approximately $3.1 million for same period last year.

Net revenues for first fiscal quarter of 2006 were $100.3 million, compared to net revenues of $89.7 million for same period last year.

The 2005 results included a gain from discontinued operations from sale of Gump's in March 2005 of $3.0 million (including a $3.6 million gain recognized on the sale).

The increase in net revenues was primarily driven by an increase in catalog circulation levels and higher response rates. In addition, net revenues grew because of higher postage and handling rates, which we put into effect to offset an increase in US Postal Service rates that occured in early January 2006.

These increases were partially offset by lower average order sizes. We experienced higher demand in our Domestications and Silhouettes catalogs, and lower demand in The Company Store and the International Male catalogs.

The principal factors which negatively impacted the operating results for first quarter of 2006 included the lower demand in The Company Store, the continuation of diminished productivity in our distribution center which started in the Fall of 2005 has led to higher product fulfillment costs, higher catalog postage costs due to postal rate increase and higher catalog paper costs which started in the Fall of 2005.


Must ReadView All

Pic: Shutterstock

Textiles | On 19th Jan 2022

Supply bottlenecks, high prices, omicron affect growth prospects: ECB

The global economy is on a recovery path, although persisting supply...

Pic: Shutterstock

Textiles | On 19th Jan 2022

Inflation peaks months earlier in Turkey than expected

Turkish finance minister Nureddin Nebati said inflation would peak in ...

Pic: Shutterstock

Textiles | On 18th Jan 2022

Singapore, Bangladesh agree to conclude FTA early

Bangladesh and Singapore have agreed to accelerate the process of...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Good tidings expected for textile industry

Textile Industry, Head honchos

Textile Industry
Head honchos

Always best to produce under own supervision

Water stewardship, Stakeholders

Water stewardship
Stakeholders

Water use efficiency remains relatively unexplored

Simone Morgante,

Simone Morgante

Based out of Como, Italy, and with technological expertise of nearly 70...

Alberto Gotti,

Alberto Gotti

Danitech was born from the will of a group of technicians to offer the...

Kriti Kanodia,

Kriti Kanodia

A TV show in 2012 where actor Sonam Kapoor customises her own pair of...

Serkan Gogus, Mogul Nonwovens

Serkan Gogus
Mogul Nonwovens

Mogul is a global player ranked among the top 40 nonwoven producers in the ...

Sameer Sonkusale & Rachel Owyeung, Tufts University

Sameer Sonkusale & Rachel Owyeung
Tufts University

A team at the Tufts University in Massachusetts was recently in news for...

Shaan Sethi, Jaanuu

Shaan Sethi
Jaanuu

Jaanuu, a vertically integrated e-commerce company, has reimagined the...

Megha Kumari & Jigar Mali, Label Megha & Jigar

Megha Kumari & Jigar Mali
Label Megha & Jigar

New Delhi based label Megha & Jigar blends India's unique handcrafts...

Gaurang Shah, Label Gaurang Shah

Gaurang Shah
Label Gaurang Shah

Hyderabad based designer <b>Gaurang Shah</b>, has been traversing the...

Payal Singhal, Label - Payal Singhal

Payal Singhal
Label - Payal Singhal

Leading South Asian fashion designer, <b>Payal Singhal </b>known for her...

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

ESTEEMED CLIENTS

Alison Hayes Romania
Walmart
BIRLA CENTURY A DIVISION OF CENTURY TEXTILES AND INDUSTRIES
Hirdaramani International Export Private Limited
Lifestyle
Amazon China
NITI Aayog
Sateri (Jiujiang) Fiber Co.,Ltd
Page Industries Limited (Bangalore)
Lacoste (Wanchai)
SHAHI Exports Pvt Ltd
Desigual - ABASIC, S.A.
THE BOMBAY DYEING ;& MFG.CO. LTD
Huntsman (Singapore) Pte Ltd
Alix Partners
Abit
Sainsbury's Argos Asia Limited
Green Fibre

January 2022

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


Advanced Search