Home / Knowledge / News / Apparel/Garments / Innovo's Q2 loss deepens

Innovo's Q2 loss deepens

Jun '06
Branded apparel and accessory consumer Innovo Group Inc announced its results from continuing operations for the second quarter ended May 27, 2006. The Company anticipates filing its Form 10-Q for the period ended May 27, 2006 on or before its due date of July 6, 2006 with its full financial results for the second quarter.

For the quarter ended May 27, 2006, net sales from continuing operations were $9.8 million compared to net sales from continuing operations of $9.7 million in the prior year period.

The company reported a loss from continuing operations of ($2.5 million), or ($0.08) per share, versus a loss from continuing operations of ($950,000), or ($0.03) per share in the corresponding period a year ago. During the second quarter, the company took a write down of approximately $469,000 related to remaining raw materials for indie™ apparel that the Company did not produce due to its exit from this line of business.

Marc Crossman, President and Chief Executive Officer of Innovo, commented, "We are very pleased with the increase in Joe's Jeans domestic sales we experienced during the second quarter compared to both the prior year comparative period and on a sequential basis, which was fueled by strong department store growth in our women's business and meaningful sales of our newly launched Joe's Jeans men's line.

However, weaker international sales slightly offset our domestic results and led to a small decline in our overall Joe's Jeans business compared to the period a year ago. We move forward committed to improving our international business while at the same time capitalizing on the positive momentum we have created for the Joe's brand here in the U.S."

Must ReadView All

Pic: Riddell

Apparel/Garments | On 24th Feb 2020

Riddell sells part of apparel business to BSN Sports

Riddell, leader in football helmet technology, has sold certain...

Pic: Agfa

Textiles | On 24th Feb 2020

Agfa and TFL collaborating to develop Alussa

Agfa and TFL are collaborating to develop Alussa, an inkjet printing...


Textiles | On 24th Feb 2020

FESPA to see latest in printing

FESPA Global Print Expo 2020 will see the international print...

Interviews View All

Top executives, Indian retail players

Top executives
Indian retail players

Walmart's acquisition of Flipkart endorses the humongous opportunities in...

Yash Agarwal, Hitansh Online

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Textile industry, Head honchos

Textile industry
Head honchos

GenNext is slowly but surely adapting to global trends and practices

Tom Adeyoola,

Tom Adeyoola

Describing itself as the best body shape and garment fit company in the...

Marcello Galvanin,

Marcello Galvanin

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

Paolo Toricella,

Paolo Toricella

Electronics for Imaging (EFI) is a global technology company, based in...

Georg Reinhold, Trützschler  Nonwovens & Man-Made Fibers

Georg Reinhold
Trützschler Nonwovens & Man-Made Fibers

Trützschler Nonwovens & Man-Made Fibers, a part of the Trützschler Group,...

Mr Ambrose Chan, DSG International (Thailand) PLC

Mr Ambrose Chan
DSG International (Thailand) PLC

Johann-Philipp Dilo, Dilo Group

Johann-Philipp Dilo
Dilo Group

German company Dilo Group is one of the leading equipment suppliers of...

Niti Singhal, Twee In One

Niti Singhal
Twee In One

Best known for convertible clothing, Indian brand Twee In One by designer...

Rajesh Pratap Singh, Rajesh Pratap Singh

Rajesh Pratap Singh
Rajesh Pratap Singh

<div>Ace fashion designer <b>Rajesh Pratap Singh</b> has used Tencel to...

Cigdem Akin, Cigdem Akin

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

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 2020

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

Advanced Search