Home / Knowledge / News / Apparel/Garments / West 49 Q1 net loss widens despite higher sales

West 49 Q1 net loss widens despite higher sales

Jun '06
Leading action sport retailer West 49 Inc has reported its financial results for its first quarter of fiscal 2007, ended April 29th 2006.

The quarter was the first to reflect a full quarter of contributions from all of the company's acquired businesses. All figures are reported in Canadian dollars.

Financial and operational highlights for the first quarter include:

-- Strong sales growth of 87.8 percent, including comparable store sales growth of 8.5 percent;
-- Gross margins increased 143.8 percent compared with the first quarter of last year;
-- EBITDA(1) improved 18.8 percent compared with the first quarter of last year;
-- Opened five new stores during the quarter; and
-- Addition of retail veterans to senior management team.

"We had an overall solid first quarter considering the seasonality inherent in our business," said Sam Baio, CEO of West 49 Inc.

"We are very pleased with our sales growth, which benefited significantly from the strong performance of our acquired businesses. Our buying and markdown strategies continued to deliver positive results, as our gross margin improved over the same period a year before. Additionally, over the past few months we improved the breadth, depth and structure of our senior management team, adding key personnel with proven capabilities in the retail sector," he added.

Net sales for the first quarter of fiscal 2007 increased 87.8 percent to $35.5 million from $18.9 million for the same period of fiscal 2006. Two thirds of the growth was attributable to last year's acquisitions of banners Off the Wall, Amnesia/Arsenic, D-Tox, and the online business under the domain name www.boardzone.com.

Must ReadView All

Pic: Shutterstock

Textiles | On 1st Mar 2021

AfCFTA rules of origin talks to conclude in June: Egyptian

Talks are currently under way between member states of the African...

Pic: Fraser Group

Retail | On 1st Mar 2021

Frasers Group anticipates £100-mn hit from lockdown

Frasers Group recently said it could take a hit in excess of £100...

Pic: Shutterstock

Retail | On 1st Mar 2021

TJX Companies FY21 sales fall 4% to $32 bn

The TJX Companies, a US-based leading off-price apparel and home...

Interviews View All

Top executives, Textile industry, India

Top executives
Textile industry, India

The event should be organised every year

Office bearers, Textile industry

Office bearers
Textile industry

There might be negative impact on garment exports

Textile Industry, Head honchos

Textile Industry
Head honchos

Opportunity now to reimagine processes & systems in a digital environment

Tony Naschberger,

Tony Naschberger

With production sites in Klagenfurt and Kufstein, Zimmer Austria is a...

KK Lalpuria,

KK Lalpuria

Indo Count Industries is an India-based home textile company engaged in...

Vikram Saria,

Vikram Saria

Shanghai-based Aura Designs Ltd is a leading manufacturer of textile and...

Madison Maxey, Loomia

Madison Maxey

Loomia designs and manufactures soft circuit systems that can be produced...

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...

Urs Stalder, Sanitized AG

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Sandeep and Sarah Shaikh Gonsalves, SS Homme

Sandeep and Sarah Shaikh Gonsalves
SS Homme

SS Homme celebrates the craft of traditional tailoring through the bespoke ...

Nisha Chanda, Whistling Woods International School of Fashion

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Chandani Sahi, By Chandani

Chandani Sahi
By Chandani

By Chandani is a womenswear prêt couture brand with fusion silhouettes by...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

February 2021

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

Advanced Search