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

Innovo's Q2 loss deepens

30
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: Infinited Fiber Company

Textiles | On 21st Apr 2021

Infinited Fiber plans to build €220 mn flagship factory in Finland

Circular fashion and textile technology group Infinited Fiber Company ...

Pic: Fespa

Textiles | On 21st Apr 2021

Print production technology will continue to evolve: FESPA CEO

Print production technology will continue to evolve, and new...

Pic: Sundry Photography / Shutterstock.com

Retail | On 21st Apr 2021

US omnichannel retailer Kohl’s and Investor Group reach agreement

Kohl’s Corporation, a leading omnichannel retailer in the US, has...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Fashion tech has to be lean and very productive

Textile Industry, Head honchos

Textile Industry
Head honchos

Blockchain is not a silver bullet for each and every problem in supply...

Textile Industry, Head honchos

Textile Industry
Head honchos

Social media critical in regeneration of businesses

Subrata Ghosh,

Subrata Ghosh

Nandan Denim, part of leading conglomerate Chiripal Group, commenced its...

Benedetta Terraneo,

Benedetta Terraneo

Miko Srl, a subsidiary of US-based Sage Automotive Interiors and a member...

Himanshu Fogla,

Himanshu Fogla

Jumac, pioneers in spinning can manufacturing in India, was founded in...

Karan Bose, Hula Global

Karan Bose
Hula Global

Hula Global, a leading isolation gown manufacturer in India, has been...

Kevin Young & Tom Lucas, Web Industries

Kevin Young & Tom Lucas
Web Industries

Web Industries is a precision formatter of nonwoven materials used in baby ...

Brad Holschuh, Wearable Technology Lab, University of Minnesota

Brad Holschuh
Wearable Technology Lab, University of Minnesota

A new study led by researchers at the University of Minnesota's Design of...

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...

Seema Agrawal, Artisan Saga

Seema Agrawal
Artisan Saga

Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...

Aprajita Toor, Aprajita Toor

Aprajita Toor
Aprajita Toor

The creations by Aprajita Toor were born out of a deep desire to create...

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


April 2021

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


Advanced Search